On Holding (NYSE: ONON) CEO details share, option and RSU holdings

Rhea-AI Filing Summary

On Holding AG CEO Martin Hoffmann has filed an initial statement of his equity interests in the company. He reports direct ownership of 1,361,170 Class A Shares and 1,625,000 Class B Shares, with the Class B Shares subject to transfer restrictions and a shareholders' agreement that can require their conversion into Class A Shares at a rate of ten Class B Shares for one Class A Share.

He also holds several fully vested non-qualified stock options granted under the 2020 long-term incentive plan, including options over 1,051,966 and 2,110,534 Class B Shares at an exercise price of 0.7730, and options over 36,329 and 211,054 Class A Shares at 7.7300. In addition, he holds 122,539 restricted stock units, each representing a contingent right to receive one Class A Share, with one award granted on October 1, 2025 that vests in three equal annual installments beginning April 1, 2028. The filing reflects existing holdings and awards rather than new market transactions.

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^*

Hoffmann Martin

(Last) (First) (Middle)

C/O ON HOLDING AG

FORRLIBUCKSTRASSE 190

(Street)

ZURICH 8005

(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
On Holding AG [ ONON ]

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)

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

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)
Class A Shares	1,361,170	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
Class B Shares	(1)	(1)	Class A Shares	1,625,000	(1)	D
Non-Qualified Stock Option (Right to Buy)	12/06/2022(2)	12/06/2029	Class B Shares(1)	1,051,966	$0.773	D
Non-Qualified Stock Option (Right to Buy)	11/29/2021(2)	11/29/2028	Class A Shares	36,329	$7.73	D
Non-Qualified Stock Option (Right to Buy)	12/06/2022(2)	12/06/2029	Class A Shares	211,054	$7.73	D
Restricted Stock Units	(3)	(3)	Class A Shares	122,539	(4)	D
Non-Qualified Stock Option (Right to Buy)	11/29/2021(2)	11/29/2028	Class B Shares(1)	2,110,534	$0.773	D

Explanation of Responses:

1. The Class B Shares are subject to transfer restrictions and rights of first refusal in favor of the other members of the Issuer's extended founder team pursuant to a shareholders' agreement. Upon the occurrence of certain individual or general sunset events specified in the shareholders' agreement, the Class B Shares are subject to mandatory conversion into Class A Shares within a specified timeframe. Conversion of Class B Shares into Class A Shares results in ten (10) Class B Shares being converted into one (1) Class A Share.

2. Stock Option granted under the Issuer's Long Term Incentive Plan 2020 (the "LTIP 2020"). All options granted under the LTIP 2020 met their full vesting requirements in connection with the Issuer's initial public offering in September 2021, which constituted an exit event. Outstanding awards under the LTIP 2020 are fully vested and exercisable. Vested options may be exercised until the seventh anniversary of the contractual granting date.

3. This award was granted on October 1, 2025 and vests on the following schedule: one-third of the shares on each of April 1, 2028, April 1, 2029, and April 1, 2030.

4. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Shares.

	/s/ Zlatina Iliev, Attorney-in-Fact	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 equity holdings in On Holding AG (ONON) does CEO Martin Hoffmann report?

Martin Hoffmann reports direct ownership of 1,361,170 Class A Shares and 1,625,000 Class B Shares. These positions represent his existing equity stake and do not reflect new market purchases or sales, but rather his current ownership snapshot.

What stock options does On Holding (ONON) CEO Martin Hoffmann hold?

Martin Hoffmann holds several fully vested non-qualified stock options, including options over 1,051,966 and 2,110,534 Class B Shares at 0.7730, and 36,329 and 211,054 Class A Shares at 7.7300, all granted under the 2020 long-term incentive plan.

How are On Holding (ONON) CEO Martin Hoffmann’s Class B Shares treated under the shareholders’ agreement?

His Class B Shares are subject to transfer restrictions and rights of first refusal in favor of other extended founder team members. Certain sunset events can require mandatory conversion into Class A Shares at a rate of ten Class B Shares for one Class A Share.

What restricted stock units does On Holding (ONON) CEO Martin Hoffmann hold?

He holds 122,539 restricted stock units, each representing a contingent right to receive one Class A Share. One RSU award was granted on October 1, 2025 and vests in three equal installments on April 1, 2028, April 1, 2029, and April 1, 2030.

Does the On Holding (ONON) CEO Form 3 show any stock purchases or sales?

The Form 3 shows holdings and awards only, with no buy or sell transactions. It records his existing Class A and Class B Shares, options, and restricted stock units rather than new open-market trades or disposals.