GDS Holdings director acquires 2,500 depositary shares

Each American Depositary Share represents eight Class A ordinary shares.

Rhea-AI Filing Summary

GDS Holdings Ltd director Tat Hiang Sio acquired 2,500 American Depositary Shares on October 15, 2026, through Restricted Stock Unit awards that vested fully upon grant. Direct holdings after the acquisition were 211,678 ADSs. A further 4,000 ADSs were held indirectly by the director’s spouse. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Grant/Award: 2,500 shares

Grant/Award 2 txns

Insider SIO TAT HIANG

Role Director

Type	Security	Shares	Price	Value
Grant/Award	American Depositary Shares F1, F2	2,500	$0.00	$0.00
holding	American Depositary Shares F1	--	--	--

Holdings After Transaction: American Depositary Shares — 211,678 shares (Direct); American Depositary Shares — 4,000 shares (Indirect, By spouse)

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: 2,500 shares Direct ADS holdings after acquisition: 211,678 shares ADSs held indirectly by spouse: 4,000 shares +1 more

4 metrics

ADSs acquired 2,500 shares Tat Hiang Sio’s award acquisition on October 15, 2026

Direct ADS holdings after acquisition 211,678 shares Tat Hiang Sio’s reported direct holdings

ADSs held indirectly by spouse 4,000 shares Reported as held by spouse

Class A ordinary shares per ADS 8 shares Each American Depositary Share represents this number of Class A ordinary shares

Key Terms

American Depositary Share ("ADS"), Restricted Stock Unit ("RSU"), fully vested

3 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") financial

"settlement of Restricted Stock Unit ("RSU") awards"

fully vested financial

"awards fully vested immediately upon their grant"

FAQ

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

How many ADSs did GDS director Tat Hiang Sio acquire?

Tat Hiang Sio acquired 2,500 American Depositary Shares on October 15, 2026, through Restricted Stock Unit awards that vested fully upon grant. No Rule 10b5-1 plan is reported.

What does one GDS ADS represent?

Each American Depositary Share 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 - 08:22 AM EDT Accepted by SEC EDGAR 10/15/2026 - 08:22 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^*

SIO TAT HIANG

(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)
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)		2,500	A	$0	211,678(2)	D
American Depositary Shares(1)								4,000	I	By spouse

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/ Sio Tat Hiang	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)