What does each GDS (GDS) American Depositary Share represent?

Each American Depositary Share (ADS) of GDS Holdings Ltd represents eight Class A ordinary shares . This ratio defines how the company’s ordinary shares are packaged and traded as ADSs in international markets.

GDS Holdings Ltd (GDS) director receives 1,370 ADS award via RSUs

Q: What insider transaction did GDS (GDS) report for Yu Bin?

Yu Bin, a director of GDS Holdings Ltd , received a grant of 1,370 American Depositary Shares (ADSs) on 2026-07-15. The award came from fully vested Restricted Stock Units that settled in ADSs as equity compensation.

Q: How many GDS (GDS) shares does Yu Bin hold after this Form 4 transaction?

Following the award, Yu Bin directly owns 74,790 American Depositary Shares of GDS Holdings Ltd. This total reflects the addition of 1,370 ADSs from the fully vested RSU settlement reported in the filing.

Q: Was Yu Bin’s GDS (GDS) transaction a market purchase or a grant?

The transaction was a grant/award acquisition , not an open-market purchase. Yu Bin acquired 1,370 ADSs upon settlement of Restricted Stock Unit awards that were fully vested immediately upon their grant as part of compensation.

Q: Did Yu Bin dispose of any GDS (GDS) shares in this Form 4?

No. The Form 4 reports only an acquisition of 1,370 ADSs via RSU settlement. There were no reported sales or dispositions in this filing; the transaction increased Yu Bin’s direct ADS holdings.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

GDS Holdings Ltd director Yu Bin received a grant of 1,370 American Depositary Shares (ADSs) on 2026-07-15 as a fully vested RSU award settled in ADSs. After this compensation-related acquisition, Yu Bin directly holds 74,790 ADSs. Each ADS represents eight Class A ordinary shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider YU BIN

Role Director

Type	Security	Shares	Price	Value
Grant/Award	American Depositary Shares	1,370	$0.00	--

Holdings After Transaction: American Depositary Shares — 74,790 shares (Direct)

Footnotes (1)

Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares. Reflects the acquisition of ADSs upon settlement of Restricted Stock Unit ("RSU") awards fully vested immediately upon their grant.

Key Figures

ADSs granted: 1,370 American Depositary Shares Holdings after transaction: 74,790 American Depositary Shares ADS to ordinary share ratio: 1 ADS = 8 Class A ordinary shares

3 metrics

ADSs granted 1,370 American Depositary Shares Grant/award acquisition to director Yu Bin on 2026-07-15

Holdings after transaction 74,790 American Depositary Shares Total ADSs directly owned by Yu Bin following the award

ADS to ordinary share ratio 1 ADS = 8 Class A ordinary shares Structure of GDS Holdings Ltd American Depositary Shares

Key Terms

American Depositary Shares, Restricted Stock Unit, Class A ordinary shares

3 terms

American Depositary Shares financial

"Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares."

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

Restricted Stock Unit financial

"Reflects the acquisition of ADSs upon settlement of Restricted Stock Unit ("RSU") awards"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

Class A ordinary shares financial

"Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares."

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/15/2026 - 06:36 AM Accepted by SEC EDGAR 07/15/2026 - 06:35 AM

FAQ

What insider transaction did GDS (GDS) report for Yu Bin?

Yu Bin, a director of GDS Holdings Ltd, received a grant of 1,370 American Depositary Shares (ADSs) on 2026-07-15. The award came from fully vested Restricted Stock Units that settled in ADSs as equity compensation.

How many GDS (GDS) shares does Yu Bin hold after this Form 4 transaction?

Following the award, Yu Bin directly owns 74,790 American Depositary Shares of GDS Holdings Ltd. This total reflects the addition of 1,370 ADSs from the fully vested RSU settlement reported in the filing.

Was Yu Bin’s GDS (GDS) transaction a market purchase or a grant?

The transaction was a grant/award acquisition, not an open-market purchase. Yu Bin acquired 1,370 ADSs upon settlement of Restricted Stock Unit awards that were fully vested immediately upon their grant as part of compensation.

Did Yu Bin dispose of any GDS (GDS) shares in this Form 4?

No. The Form 4 reports only an acquisition of 1,370 ADSs via RSU settlement. There were no reported sales or dispositions in this filing; the transaction increased Yu Bin’s direct ADS holdings.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

YU BIN

(Last)

(First)

(Middle)

C/O F4/F5, BLDG C, SUNLAND INTERNATIONAL

NO. 999 ZHOUHAI ROAD, PUDONG

(Street)

SHANGHAI

200137

(City)

(State)

(Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
GDS Holdings Ltd [ GDS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol
[9698]

3. Date of Earliest Transaction (Month/Day/Year)
07/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
American Depositary Shares⁽¹⁾	07/15/2026		A⁽²⁾		1,370	A	$0	74,790⁽²⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares.

2. Reflects the acquisition of ADSs upon settlement of Restricted Stock Unit ("RSU") awards fully vested immediately upon their grant.

	/s/ Bin Yu	07/15/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR