Hesai Group (HSAI) VP Yang Cailian reports options, RSUs and ADS stake

Rhea-AI Filing Summary

Hesai Group director and Vice President of Operations Yang Cailian filed an initial Form 3 reporting existing equity interests in the company. The filing shows direct holdings of options over 181,042 Class B ordinary shares at an exercise price of $2.10 per share expiring on July 3, 2028, along with additional option grants at exercise prices of $3.30, $1.63, and $0.90 per share with expirations extending to November 18, 2031. It also discloses restricted share units that vest annually from December 1, 2026 through December 1, 2029, each representing a contingent right to receive Class B ordinary shares upon vesting, and direct ownership of 122,632 American depositary shares, each representing one Class B ordinary share. The Form 3 does not reflect new market purchases or sales but establishes Yang’s baseline ownership position.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Yang Cailian

(Last) (First) (Middle)

10TH FLOOR, BUILDING A

NO. 658 ZHAOHUA ROAD, CHANGNING DISTRICT

(Street)

SHANGHAI 200050

(City) (State) (Zip)

CHINA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Hesai Group [ HSAI ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Vice President of Operations

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
American depositary shares(1)	122,632	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Options (right to buy)	07/03/2021	07/03/2028	Class B ordinary shares	181,042	$2.1	D
Options (right to buy)	08/31/2022	11/22/2028	Class B ordinary shares	9,441	$3.3	D
Options (right to buy)	08/31/2023	11/22/2028	Class B ordinary shares	9,441	$3.3	D
Options (right to buy)	08/31/2024	11/22/2028	Class B ordinary shares	9,441	$3.3	D
Options (right to buy)	08/31/2025	11/22/2028	Class B ordinary shares	9,443	$3.3	D
Options (right to buy)	05/01/2025	06/05/2030	Class B ordinary shares	9,090	$1.63	D
Options (right to buy)	05/01/2026	06/05/2030	Class B ordinary shares	9,090	$1.63	D
Options (right to buy)	05/01/2027	06/05/2030	Class B ordinary shares	9,093	$1.63	D
Options (right to buy)	(2)	06/05/2030	Class B ordinary shares	2,993	$1.63	D
Options (right to buy)	01/31/2026	11/18/2031	Class B ordinary shares	8,000	$0.9	D
Options (right to buy)	01/31/2027	11/18/2031	Class B ordinary shares	8,000	$0.9	D
Options (right to buy)	01/31/2028	11/18/2031	Class B ordinary shares	8,000	$0.9	D
Options (right to buy)	01/31/2029	11/18/2031	Class B ordinary shares	8,000	$0.9	D
Restricted share units	(3)	(3)	Class B ordinary shares	1,000	(3)	D
Restricted share units	(4)	(4)	Class B ordinary shares	1,000	(4)	D
Restricted share units	(5)	(5)	Class B ordinary shares	1,000	(5)	D
Restricted share units	(6)	(6)	Class B ordinary shares	1,000	(6)	D

Explanation of Responses:

1. Each American depositary share represents one Class B ordinary share.

2. Option to purchase 2,108 Class B ordinary shares has vested as of the date of this filing, and the remaining option will vest on a monthly basis since April 1, 2026, with 62 Class Bordinary shares vesting each month until April 1, 2027 and 79 Class B ordinary shares vesting on May 1, 2027.

3. Represents restricted share units granted to the reporting person pursuant to the issuer's share incentive plan, which will vest on December 1, 2026 and do not have expiration dates. These restricted share units evidence the contingent right to receive Class B ordinary shares upon vesting.

4. Represents restricted share units granted to the reporting person pursuant to the issuer's share incentive plan, which will vest on December 1, 2027 and do not have expiration dates. These restricted share units evidence the contingent right to receive Class B ordinary shares upon vesting.

5. Represents restricted share units granted to the reporting person pursuant to the issuer's share incentive plan, which will vest on December 1, 2028 and do not have expiration dates. These restricted share units evidence the contingent right to receive Class B ordinary shares upon vesting.

6. Represents restricted share units granted to the reporting person pursuant to the issuer's share incentive plan, which will vest on December 1, 2029 and do not have expiration dates. These restricted share units evidence the contingent right to receive Class B ordinary shares upon vesting.

	/s/ Cailian Yang	03/18/2026
	** 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 5 (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 3: SEC 1473 (03-26)

FAQ

What does Hesai Group (HSAI) disclose about Yang Cailian in this Form 3?

The Form 3 shows that Yang Cailian, a director and Vice President of Operations, holds options, restricted share units, and American depositary shares of Hesai Group. It establishes Yang’s baseline ownership position but does not report any new trades or market transactions.

How many Hesai Group ADS does Yang Cailian report holding on Form 3?

Yang Cailian reports holding 122,632 American depositary shares of Hesai Group. A footnote states each ADS represents one Class B ordinary share, giving investors a clear view of this direct equity stake separate from options and restricted share units.

What stock options in Hesai Group (HSAI) are reported by Yang Cailian?

The filing lists options over 181,042 Class B ordinary shares at an exercise price of $2.10 expiring on July 3, 2028, plus additional option grants at $3.30, $1.63, and $0.90 per share with expirations extending through 2031, all held directly.

How do Yang Cailian’s restricted share units in Hesai Group vest?

Restricted share units are granted under Hesai Group’s share incentive plan and vest on December 1 of each year from 2026 through 2029. Each unit represents a contingent right to receive Class B ordinary shares once vesting conditions are satisfied, without an exercise price.

Does this Hesai Group (HSAI) Form 3 show insider buying or selling?

No new insider buying or selling is shown. The Form 3 records existing holdings—options, restricted share units, and ADS—held directly by Yang Cailian. Transaction counts for open-market purchases and sales are zero, indicating this is a baseline ownership disclosure, not a trading report.

What do the footnotes in Hesai Group’s Form 3 reveal about the securities?

Footnotes clarify that each ADS equals one Class B ordinary share and describe vesting schedules for restricted share units, which vest annually on December 1 from 2026 to 2029. They also detail monthly vesting mechanics for part of an option grant beginning April 1, 2026.