GDS Holdings director granted 1,500 ADSs

GDS Holdings Ltd director Bruno Lopez reported an acquisition of 1,500 American Depositary Shares (ADSs) on July 15, 2026, as a grant/award at $0.00 per ADS, upon settlement of RSU awards that fully vested immediately.

Rhea-AI Filing Summary

GDS Holdings Ltd director Bruno Lopez reported an acquisition of 1,500 American Depositary Shares (ADSs) on July 15, 2026, as a grant/award at $0.00 per ADS, upon settlement of RSU awards that fully vested immediately. Following this grant, he directly holds 108,384 ADSs. Each ADS represents eight Class A ordinary shares.

Insider Trade Summary

Grant/Award: 1,500 shares

Grant/Award 1 txn

Insider LOPEZ BRUNO

Role Director

Type	Security	Shares	Price	Value
Grant/Award	American Depositary Shares F1, F2	1,500	$0.00	$0.00

Holdings After Transaction: American Depositary Shares — 108,384 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: 1,500 American Depositary Shares Transaction price per ADS: $0.0000 per share Holdings after transaction: 108,384 American Depositary Shares +1 more

4 metrics

ADSs acquired 1,500 American Depositary Shares Grant/award acquisition on July 15, 2026

Transaction price per ADS $0.0000 per share Price for the 1,500 ADS grant/award

Holdings after transaction 108,384 American Depositary Shares Total direct ADS holdings following the grant

ADS to ordinary share ratio 1 ADS = 8 Class A ordinary shares Each American Depositary Share represents eight Class A ordinary shares

Key Terms

American Depositary Shares, Restricted Stock Unit, Class A ordinary shares, grant/award acquisition

4 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

"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.

grant/award acquisition financial

"transaction_action": "grant/award acquisition""

FAQ

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

What insider transaction did Bruno Lopez report for GDS (GDS) on this Form 4?

Director Bruno Lopez reported acquiring 1,500 American Depositary Shares (ADSs) of GDS Holdings Ltd on July 15, 2026. The transaction was a grant/award acquisition at $0.00 per ADS, rather than an open-market purchase or sale.

How many GDS (GDS) shares does Bruno Lopez hold after the reported transaction?

After the reported grant, Bruno Lopez directly holds 108,384 American Depositary Shares of GDS Holdings Ltd. This figure reflects his total direct ADS holdings immediately following the acquisition of 1,500 ADSs reported in the Form 4 filing.

What type of GDS (GDS) security did Bruno Lopez acquire in this Form 4 filing?

Bruno Lopez acquired American Depositary Shares (ADSs) of GDS Holdings Ltd. Each ADS represents eight Class A ordinary shares, providing a way for investors to hold an interest in the company through a depositary share structure.

Was the GDS (GDS) insider transaction by Bruno Lopez a market purchase or a grant?

The transaction was a grant/award acquisition, not a market purchase. The 1,500 ADSs were acquired at $0.00 per ADS upon settlement of Restricted Stock Unit (RSU) awards that fully vested immediately at the time of grant.

How are the GDS (GDS) ADSs reported by Bruno Lopez related to the company’s ordinary shares?

Each GDS Holdings Ltd American Depositary Share (ADS) reported by Bruno Lopez represents eight Class A ordinary shares. This ratio means ADS holders have an economic interest tied to multiple underlying ordinary shares through the depositary structure.

What is the nature of the RSU settlement in Bruno Lopez’s GDS (GDS) Form 4?

The filing states the 1,500 ADSs reflect the acquisition upon settlement of RSU awards that fully vested immediately upon their grant. This indicates the RSUs converted into ADSs without a vesting schedule beyond the grant date.

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

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Accepted by SEC EDGAR 07/15/2026 - 06:41 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^*

LOPEZ BRUNO

(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)
			Code	V	Amount	(A) or (D)	Price
American Depositary Shares(1)	07/15/2026		A(2)		1,500	A	$0	108,384(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/ Bruno Lopez	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)