Noah Holdings (NOAH) CFO details initial share and RSU ownership

Rhea-AI Filing Summary

Noah Holdings Ltd chief financial officer Pan Qing reported her initial ownership of the company’s equity. She directly holds 699,090 ordinary shares and three restricted stock unit (RSU) awards that are tied to 4,200, 450,460 and 125,000 underlying ordinary shares. The RSU grants, each structured so one unit represents 10 ordinary shares, vest in scheduled installments through June 29, 2026, March 29, 2027 and December 20, 2027.

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^*

Pan Qing

(Last) (First) (Middle)

7TH FLOOR, BLOCK B, NOAH WEALTH CENTER,

1226 SHENBIN SOUTH ROAD, MINHANG

(Street)

SHANGHAI F4 201107

(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)

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

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	699,090	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
RESTRICTED STOCK UNIT	(1)	(1)	ORDINARY SHARES	4,200	$0.0	D
RESTRICTED STOCK UNIT	(2)	(2)	ORDINARY SHARES	450,460	$0.0	D
RESTRICTED STOCK UNIT	(3)	(3)	ORDINARY SHARES	125,000	$0.0	D

Explanation of Responses:

1. Represents an award of 6,383 restricted share units ("RSUs"), each representing the right to receive 10 ordinary shares. 3,272 RSUs vested on December 29, 2023. The remaining 3,111 RSUs vest in equal monthly installments of 103 RSUs at the end of each month, commencing January 29, 2024. The award will be fully vested on June 29, 2026.

2. Represents an award of 90,092 RSUs, each representing the right to receive 10 ordinary shares. 22,523 RSUs vested on March 29, 2024. The remaining 67,569 RSUs vest in equal annual installments of 22,523 RSUs on March 29 of each year thereafter, commencing March 29, 2025. The award will be fully vested on March 29, 2027.

3. Represents an award of 25,000 RSUs, each representing the right to receive 10 ordinary shares. 6,250 RSUs vested on December 20, 2024. The remaining 18,750 RSUs vest in equal annual installments of 6,250 RSUs on December 20 of each year thereafter, commencing December 20, 2025. The award will be fully vested on December 20, 2027.

	/s/ QING PAN	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).
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.

FAQ

What does the Pan Qing Form 3 for NOAH disclose?

The Form 3 discloses CFO Pan Qing’s initial ownership in Noah Holdings, including 699,090 ordinary shares and multiple restricted stock unit awards that convert into ordinary shares over several years according to specified vesting schedules.

How many ordinary shares does NOAH CFO Pan Qing hold directly?

Pan Qing directly holds 699,090 ordinary shares of Noah Holdings. This position is in addition to her restricted stock unit awards, which are tied to additional underlying ordinary shares that will be delivered as the RSUs vest over time.

What restricted stock unit awards are reported for NOAH CFO Pan Qing?

The filing reports three RSU awards linked to 4,200, 450,460 and 125,000 underlying ordinary shares. Each RSU represents the right to receive 10 ordinary shares, creating a structured equity-based compensation package tied to future vesting milestones.

When do Pan Qing’s NOAH restricted stock units vest?

The RSUs vest in tranches through three key dates: June 29, 2026, March 29, 2027, and December 20, 2027. Portions vest monthly or annually, rewarding continued service and aligning the chief financial officer’s compensation with longer-term company performance.

What is the purpose of a Form 3 filing for NOAH’s CFO?

Form 3 is used to report an insider’s initial ownership when they become subject to Section 16 reporting. For Noah Holdings, it details CFO Pan Qing’s starting holdings in ordinary shares and RSUs, creating a baseline for tracking any future reportable transactions.