GDS director reports 1,190 ADS RSU settlement

GDS Holdings Ltd director Yu Bin reported an internal share-related transaction involving company stock.

Rhea-AI Filing Summary

GDS Holdings Ltd director Yu Bin reported an internal share-related transaction involving company stock. The filing shows 1,190 American Depositary Shares (ADSs) were received at no cash cost in connection with the settlement of fully vested Restricted Stock Unit (RSU) awards. After this transaction, Yu Bin directly holds 73,420 ADSs. Each ADS represents eight Class A ordinary shares, so the filing reflects routine equity compensation turning into traded shares rather than an open-market purchase or sale.

Insider Trade Summary

Other: 1,190 shares

Other 1 txn

Insider YU BIN

Role Director

Type	Security	Shares	Price	Value
Other	American Depositary Shares	1,190	$0.00	$0.00

Holdings After Transaction: American Depositary Shares — 73,420 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 fully vested Restricted Stock Unit ("RSU") awards.

Key Figures

ADSs received: 1,190 ADSs Price per ADS: $0.0000 per ADS Holdings after transaction: 73,420 ADSs +1 more

4 metrics

ADSs received 1,190 ADSs Settlement of fully vested RSU awards

Price per ADS $0.0000 per ADS RSU settlement, non-cash acquisition

Holdings after transaction 73,420 ADSs Direct ownership following Form 4 transaction

ADS to ordinary share ratio 1 ADS = 8 Class A ordinary shares Equity structure for GDS ADSs

Key Terms

American Depositary Share ("ADS"), Restricted Stock Unit ("RSU") awards, Class A ordinary shares, Other acquisition or disposition

4 terms

American Depositary Share ("ADS") financial

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

An American Depositary Share (ADS) is a U.S.-listed certificate issued by a U.S. bank that represents one or more ordinary shares of a foreign company, letting U.S. investors buy and sell that foreign stock in dollars on U.S. markets. It matters because ADSs make access to overseas companies easier and more convenient—like a local ticket that stands in for a foreign product—while affecting liquidity, dividend payments, currency conversion and the regulatory disclosures investors rely on.

Restricted Stock Unit ("RSU") awards financial

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

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.

Other acquisition or disposition financial

"transaction_code_description: "Other acquisition or disposition""

FAQ

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

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

Yu Bin reported receiving 1,190 American Depositary Shares (ADSs) of GDS at no cash cost. The ADSs were delivered upon settlement of fully vested Restricted Stock Unit (RSU) awards, reflecting routine equity compensation rather than an open-market trade.

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

Following the reported transaction, Yu Bin directly holds 73,420 American Depositary Shares of GDS. This total includes the 1,190 ADSs received upon settlement of fully vested RSU awards, as disclosed in the Form 4 insider filing.

Was Yu Bin’s GDS (GDS) transaction a market buy or sell?

The transaction was not an open-market buy or sell. It reflects receipt of 1,190 ADSs at a price of $0.0000 per share upon settlement of fully vested RSU awards, categorized as an “other acquisition or disposition.”

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

Each American Depositary Share (ADS) of GDS represents eight Class A ordinary shares. This ratio is specified in the footnotes to the Form 4 and helps investors understand the underlying ordinary share exposure represented by the ADS position.

How is the RSU settlement described in Yu Bin’s GDS (GDS) Form 4?

The Form 4 notes that the 1,190 ADSs “reflect the acquisition of ADSs upon settlement of fully vested Restricted Stock Unit (RSU) awards.” This language indicates equity compensation vesting, not a discretionary purchase or sale in the open market.

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

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Accepted by SEC EDGAR 05/15/2026 - 06:43 AM 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^*

YU BIN

(Last) (First) (Middle)

C/O F4/F5, BUILDING C, SUNLAND INTL

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
[9,698]

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

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)	05/15/2026		J(2)		1,190	A	$0	73,420(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 fully vested Restricted Stock Unit ("RSU") awards.

	/s/ Bin Yu	05/15/2026
	** 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)