Noah Holdings (NOAH) director Wang Jingbo details large indirect stake

Rhea-AI Filing Summary

Noah Holdings Ltd director and major shareholder Wang Jingbo (Norah) filed an initial insider report detailing her indirect ownership in the company. The filing shows indirect holdings of 68,533,770 ordinary shares through Jing Investors Co., Ltd., over which she has voting and disposal power as sole director.

The report also lists several restricted share unit (RSU) awards. One award covers 13,234 RSUs, each representing 10 ordinary shares, with 11,012 RSUs vested on December 29, 2023 and the remainder vesting monthly until full vesting on June 29, 2026. A second award covers 50,000 RSUs, vesting annually through March 29, 2027, and a third covers 30,000 RSUs, vesting annually through March 31, 2028.

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^*

Wang Jingbo (Norah)

(Last) (First) (Middle)

34TH FLOOR, TOWER TWO, TIMES SQUARE

1 MATHESON STREET, CAUSEWAY BAY

(Street)

HONG KONG K3 00000

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/16/2026

3. Issuer Name and Ticker or Trading Symbol
NOAH HOLDINGS LTD [ NOAH ]

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

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

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

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)
ORDINARY SHARES	68,533,770	I	See Footnote(1)

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
RESTRICTED STOCK UNIT	(2)	(2)	ORDINARY SHARES	2,985	$0.0	I	See Footnote(1)
RESTRICTED STOCK UNIT	(3)	(3)	ORDINARY SHARES	250,000	$0.0	I	See Footnote(1)
RESTRICTED STOCK UNIT	(4)	(4)	ORDINARY SHARES	225,000	$0.0	I	See Footnote(1)

Explanation of Responses:

1. By Jing Investors Co., Ltd., a British Virgin Islands company wholly owned by Magic Beams Enterprises Ltd., a British Virgin Islands company, which is in turn wholly owned by Ark Trust (Singapore) Ltd. as trustee of Norah Family Trust, with Ms. Jingbo Wang as settlor and Ms. Jingbo Wang and her family members as beneficiaries. Ms. Wang is the sole director of Jing Investors Co., Ltd. and as such has power to vote and dispose of the ordinary shares of the Issuer held by Jing Investors Co., Ltd.

2. Represents an award of 13,234 restricted share units ("RSUs"), each representing the right to receive 10 ordinary shares. 11,012 RSUs vested on December 29, 2023. The remaining 2,222 RSUs vest in equal monthly installments of 74 RSUs at the end of each month, commencing January 29, 2024. The award will be fully vested on June 29, 2026.

3. Represents an award of 50,000 RSUs, each representing the right to receive 10 ordinary shares. 12,500 RSUs vested on June 12, 2024. The remaining 37,500 RSUs vest in equal annual installments of 12,500 RSUs on March 29 of each year thereafter, commencing March 29, 2025. The award will be fully vested on March 29, 2027.

4. Represents an award of 30,000 RSUs, each representing the right to receive 10 ordinary shares. 7,500 RSUs vested on March 31, 2025. The remaining 22,500 RSUs vest in equal annual installments of 7,500 RSUs on March 31 of each year thereafter, commencing March 31, 2026. The award will be fully vested on March 31, 2028.

	/s/ JINGBO WANG	03/16/2026
	** 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).
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FAQ

What does the NOAH Form 3 filing by Wang Jingbo report?

The Form 3 reports Wang Jingbo’s initial insider ownership in Noah Holdings Ltd. It details her indirect holdings of ordinary shares through Jing Investors Co., Ltd. and outlines multiple restricted share unit awards with specific vesting schedules extending through 2028.

How many Noah Holdings ordinary shares does Wang Jingbo indirectly hold?

The filing shows indirect ownership of 68,533,770 ordinary shares. These shares are held through Jing Investors Co., Ltd., a British Virgin Islands company ultimately associated with the Norah Family Trust, where Wang serves as settlor and has authority to vote and dispose the shares.

How are Wang Jingbo’s Noah Holdings shares held according to the Form 3?

The shares are held indirectly through Jing Investors Co., Ltd. That entity is wholly owned by Magic Beams Enterprises Ltd., which is in turn owned by Ark Trust (Singapore) Ltd. as trustee of the Norah Family Trust, with Wang retaining voting and disposal power.

What RSU awards related to NOAH are disclosed for Wang Jingbo?

The report discloses three restricted share unit awards. They cover 13,234, 50,000, and 30,000 RSUs, each RSU representing 10 ordinary shares, with vesting beginning in 2023 and continuing through June 29, 2026, March 29, 2027, and March 31, 2028 respectively.

Do the RSU awards for NOAH shares have detailed vesting schedules?

Yes, each RSU grant includes a clear vesting schedule. One vests monthly through June 29, 2026, another in annual installments each March 29 through 2027, and the third in annual installments each March 31 through 2028, subject to continued service conditions implied.

Does the NOAH Form 3 show any recent share purchases or sales by Wang Jingbo?

No, the Form 3 functions as an initial ownership report. The structured data categorizes the entries as holdings with unknown transaction codes, and the transaction summary shows zero buy or sell transactions, focusing instead on existing indirect ownership and RSU positions.