What are the terms of Liu Qianli’s restricted share units in Luckin Coffee (LKNCY)?

Liu Qianli holds 9,727 restricted share units, each representing a contingent right to receive one Luckin Coffee ADS. These RSUs are scheduled to vest on May 31, 2026 and carry no conversion or exercise price, making them straightforward equity awards upon vesting.

Luckin Coffee director reports ADS and RSU holdings

Luckin Coffee Inc. director Liu Qianli has filed an initial ownership report showing existing equity interests in the company.

Accepted by SEC EDGAR 03/18/2026 - 04:14 PM EDT

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

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Form Type

Rhea-AI Filing Summary

Luckin Coffee Inc. director Liu Qianli has filed an initial ownership report showing existing equity interests in the company. The filing lists direct holdings of 36,291 American Depositary Shares (ADS), with each ADS representing eight Class A ordinary shares. Liu also holds 9,727 restricted share units (RSUs), each representing a contingent right to receive one ADS. These RSUs are scheduled to vest on May 31, 2026 and have no conversion or exercise price.

Insider Trade Summary

Holdings reported, no transactions

Holdings

Insider Liu Qianli

Role Director

Type	Security	Shares	Price	Value
Holding	American Depositary Shares	--	--	--
Holding	Restricted Share Units	--	--	--

Holdings: American Depositary Shares — 36,291 shares (Direct); Restricted Share Units — 9,727 shares (Direct)

Footnotes (2)

F1. Each American Depositary Share ("ADS") represents eight Class A Ordinary Shares.
F2. Each restricted share unit represents a contingent right to receive one ADS. The restricted share units will vest on May 31, 2026 with no conversion or exercise price.

FAQ

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

What insider position does Liu Qianli report in Luckin Coffee (LKNCY)?

Liu Qianli reports holding 36,291 American Depositary Shares of Luckin Coffee and 9,727 restricted share units. These positions reflect existing equity interests as a director, rather than new purchases or sales, and provide baseline information on Liu’s direct stake in the company.

How many Luckin Coffee ADS does director Liu Qianli hold?

Liu Qianli holds 36,291 American Depositary Shares of Luckin Coffee. Each ADS represents eight Class A ordinary shares, so this position reflects a substantial equity interest and serves as the reported baseline ownership in this initial insider filing.

Do the reported holdings for Liu Qianli involve recent buying or selling of Luckin Coffee stock?

The disclosure reflects holdings rather than recent buying or selling activity. It lists Liu Qianli’s existing positions in 36,291 ADS and 9,727 RSUs, providing a snapshot of current ownership rather than documenting open-market transactions or option exercises.

How do Luckin Coffee ADS relate to the company’s Class A ordinary shares?

Each Luckin Coffee American Depositary Share represents eight Class A ordinary shares. This means Liu Qianli’s 36,291 ADS correspond economically to a larger number of underlying ordinary shares, though the filing focuses on the ADS level for reporting purposes.

When will Liu Qianli’s Luckin Coffee RSUs vest and what will he receive?

Liu Qianli’s 9,727 restricted share units are scheduled to vest on May 31, 2026. Upon vesting, each unit entitles him to receive one Luckin Coffee ADS, with no additional conversion or exercise price required to obtain the shares.

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

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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

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Liu Qianli

(Last)

(First)

(Middle)

28TH FL, BUILDING T3, HAIXI JINGU PLAZA

1-3 TAIBEI ROAD, SIMING DISTRICT

(Street)

XIAMEN

361008

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

3. Issuer Name and Ticker or Trading Symbol
Luckin Coffee Inc. [ LKNCY ]

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
	Officer (give title below)	Other (specify below)

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⁾	36,291	D
Restricted Share Units⁽²⁾	9,727	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)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	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)

Explanation of Responses:

1. Each American Depositary Share ("ADS") represents eight Class A Ordinary Shares.

2. Each restricted share unit represents a contingent right to receive one ADS. The restricted share units will vest on May 31, 2026 with no conversion or exercise price.

	/s/ Qianli Liu	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)

Source: View Original Filing on SEC EDGAR