GDS: Jonathan Allen King acquires 210 depositary shares

The executive committee member's reported direct holdings stood at 17,217 ADSs after the award settlement.

Rhea-AI Filing Summary

GDS Holdings Ltd executive committee member Jonathan Allen King acquired 210 American Depositary Shares (ADSs) on October 15, 2026, upon settlement of Restricted Stock Unit (RSU) awards that vested immediately upon grant. The ADSs were held directly, and his reported direct holdings after the transaction were 17,217 ADSs. Each ADS represents eight Class A ordinary shares. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Grant/Award: 210 shares

Grant/Award 1 txn

Insider KING JONATHAN ALLEN

Role Insider

Type	Security	Shares	Price	Value
Grant/Award	American Depositary Shares F1, F2	210	$0.00	$0.00

Holdings After Transaction: American Depositary Shares — 17,217 shares (Direct)

Footnotes (2)

1. F1. Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares.
2. F2. Reflects the acquisition of ADSs upon settlement of Restricted Stock Unit ("RSU") awards fully vested immediately upon their grant.

Key Figures

ADSs acquired: 210 ADSs Direct ADS holdings after transaction: 17,217 ADSs Class A ordinary shares per ADS: 8 Class A ordinary shares per ADS

3 metrics

ADSs acquired 210 ADSs October 15, 2026; upon settlement of RSU awards

Direct ADS holdings after transaction 17,217 ADSs Reported following the October 15, 2026 transaction

Class A ordinary shares per ADS 8 Class A ordinary shares per ADS ADS ratio stated in the transaction footnote

Key Terms

American Depositary Share, Restricted Stock Unit, settlement

3 terms

American Depositary Share financial

"Each American Depositary Share ("ADS") represents eight"

An American Depositary Share (ADS) is a U.S.-listed certificate that represents a specified number of shares in a foreign company, held by a custodian bank; it works like a receipt that allows U.S. investors to buy and trade foreign equity on American exchanges without dealing with another country’s markets. Investors care because ADSs make foreign stocks easier to access, improve liquidity and settlement in dollars, and can affect dividend payments, voting rights and regulatory oversight compared with buying the underlying foreign shares directly.

Restricted Stock Unit financial

"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.

settlement financial

"acquisition of ADSs upon settlement"

Settlement is the process of completing a financial transaction, like buying or selling a stock, by transferring money and ownership between parties. It ensures that both the buyer gets the asset and the seller gets paid, making the deal official. Without settlement, the transaction wouldn't be finalized or legally recognized.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many GDS ADSs did Jonathan Allen King acquire?

Jonathan Allen King acquired 210 ADSs on October 15, 2026, upon settlement of RSU awards that vested immediately upon grant.

How many Class A ordinary shares does each GDS ADS represent?

Each ADS represents eight Class A ordinary shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 10/15/2026 - 08:21 AM EDT Accepted by SEC EDGAR 10/15/2026 - 08:21 AM EDT Learn about SEC filing dates

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^*

KING JONATHAN ALLEN

(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)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member, executive committee

2a. Foreign Trading Symbol
[9698]

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2026

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)
			Code	V	Amount	(A) or (D)	Price
American Depositary Shares(1)	10/15/2026		A(2)		210	A	$0	17,217(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

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/ Jonathan Allen King	10/15/2026
	** 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)