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GDS Holdings Ltd (GDS) executive sells 10,000 ADS and retains 66,865

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

GDS Holdings Ltd executive Qian Yixin reported an open-market sale of 10,000 American Depositary Shares (ADS). The sale took place at an average price of $35.2521 per ADS. Following this transaction, Qian directly holds 66,865 ADS.

Each ADS represents eight Class A ordinary shares, so the filing reflects trading in a depositary instrument linked to the company’s ordinary equity.

Positive

  • None.

Negative

  • None.
Insider Qian Yixin
Role Executive VP, operation
Sold 10,000 shs ($353K)
Type Security Shares Price Value
Sale American Depositary Shares 10,000 $35.2521 $353K
Holdings After Transaction: American Depositary Shares — 66,865 shares (Direct)
Footnotes (1)
  1. F1. Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares.
ADS sold 10,000 ADS Open-market sale on 2026-06-10
Sale price per ADS $35.2521 per ADS Average transaction price
Holdings after transaction 66,865 ADS Direct ownership following sale
ADS to ordinary share ratio 1 ADS = 8 Class A shares Footnote disclosure
American Depositary Shares financial
"security_title: "American Depositary 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.
open-market sale financial
"transaction_action: "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
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.

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

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What insider transaction did GDS (GDS) report in this Form 4?
GDS reported that executive Qian Yixin completed an open-market sale of 10,000 American Depositary Shares. The trade involved the company’s ADS equity instrument and reflects a routine insider disposition disclosed under U.S. securities rules.

At what price did the GDS (GDS) insider sell shares?
The insider sale was executed at an average price of $35.2521 per American Depositary Share. This price applies to the 10,000 ADS sold in the open-market transaction reported in the Form 4 filing.

How many GDS (GDS) shares does the insider hold after the sale?
After the reported transaction, executive Qian Yixin directly holds 66,865 American Depositary Shares. This post-transaction balance is disclosed in the Form 4 as the total direct ownership following the 10,000 ADS sale.

What does each GDS (GDS) American Depositary Share represent?
Each American Depositary Share of GDS represents eight Class A ordinary shares. This ratio, disclosed in the Form 4 footnote, links the U.S.-traded ADS instrument to the underlying ordinary equity issued by the company.

Was the GDS (GDS) insider transaction a buy or a sell?
The Form 4 shows a sell transaction coded as an open-market sale. Executive Qian Yixin disposed of 10,000 American Depositary Shares, with the filing classifying the direction as a sale rather than an acquisition.
SEC Form 4
FORM 4UNITED 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*
Qian Yixin
(Last)(First)(Middle)
C/O F4/F5, BLDG C, SUNLAND INTL
NO. 999 ZHOUHAI ROAD, PUDONG
(Street)
SHANGHAI200137
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
Executive VP, operation
2a. Foreign Trading Symbol
[9698]
3. Date of Earliest Transaction (Month/Day/Year)
06/10/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
American Depositary Shares(1)06/10/2026S10,000D$35.252166,865D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares.
/s/ Yixin Qian06/11/2026
** Signature of Reporting PersonDate
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