GDS Holdings (GDS) director granted 980 ADSs through RSU settlement

Rhea-AI Filing Summary

GDS Holdings Ltd director Gary J. Wojtaszek reported a compensation-related share issuance. He received 980 American Depositary Shares at no stated price upon settlement of fully vested Restricted Stock Unit awards. After this transaction, he directly holds 88,219 ADSs. Each ADS represents eight Class A ordinary shares.

Insights

Insider transactions analyst

Routine RSU settlement granted 980 ADSs to a GDS director.

The filing shows Gary J. Wojtaszek, a director of GDS Holdings Ltd, receiving 980 American Depositary Shares at a zero-dollar price when fully vested RSUs settled. This is a standard equity compensation event, not an open-market trade.

Following the transaction, his direct holdings total 88,219 ADSs, indicating the grant is small relative to his existing position. Because this is a non-cash, compensation-driven issuance with no buying or selling in the market, it carries limited informational value about his view of the stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Wojtaszek Gary J

Role null

Type	Security	Shares	Price	Value
Other	American Depositary Shares	980	$0.00	--

Holdings After Transaction: American Depositary Shares — 88,219 shares (Direct, null)

Footnotes (1)

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

Key Figures

RSU settlement ADSs: 980 ADSs Price per ADS: $0.0000 per ADS Holdings after transaction: 88,219 ADSs +1 more

4 metrics

RSU settlement ADSs 980 ADSs ADSs issued upon settlement of fully vested RSUs

Price per ADS $0.0000 per ADS Reported transaction price for RSU settlement

Holdings after transaction 88,219 ADSs Direct holdings following Form 4 transaction

ADS to ordinary share ratio 1 ADS = 8 Class A shares Economic equivalence stated in Form 4 footnote

Key Terms

American Depositary Share, Restricted Stock Unit ("RSU"), Class A ordinary shares

3 terms

American Depositary Share financial

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

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 ("RSU") 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.

Form 4 Insider Transactions: What Each Field Means →

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^*

Wojtaszek Gary J

(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)		980	A	$0	88,219(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/ Gary J. Wojtaszek	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)

FAQ

What insider transaction did GDS (GDS) director Gary J. Wojtaszek report?

Gary J. Wojtaszek reported receiving 980 American Depositary Shares of GDS. These ADSs were issued at no stated price upon settlement of fully vested Restricted Stock Unit awards, representing routine equity compensation rather than an open-market purchase or sale.

How many GDS (GDS) shares does Gary J. Wojtaszek hold after this Form 4?

After the reported transaction, Gary J. Wojtaszek directly holds 88,219 American Depositary Shares of GDS. This total reflects his position following the settlement of 980 ADSs from fully vested RSU awards disclosed in the Form 4 filing.

Was the GDS (GDS) insider transaction a market buy or sell?

The transaction was not a market buy or sell. It reflects the issuance of 980 American Depositary Shares to Gary J. Wojtaszek upon settlement of fully vested RSU awards, with a reported price per share of $0.0000 in the Form 4.

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

Each GDS American Depositary Share represents eight Class A ordinary shares. This ratio is stated in the Form 4 footnotes, explaining how ADS holdings relate to the underlying Class A ordinary share count for investors tracking economic exposure.

What does transaction code J mean in the GDS (GDS) Form 4 filing?

Transaction code J in this Form 4 indicates another type of acquisition or disposition. Here it represents the settlement of fully vested Restricted Stock Units into 980 American Depositary Shares, a compensation-related event rather than an open-market trading decision.