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PDD Holdings Inc. (PDD) director logs RSU vesting, ADS acquisition, grant

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

PDD Holdings director George Yeo reported the vesting and settlement of 1045 and 539 Restricted Share Units into a total of 1584 ADSs on August 1, 2026, plus a new award of 423 RSUs. Earlier RSUs continue to vest in 270-unit tranches in 2027 and 2028, while the new grant vests from 2028 through 2030.

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Insider Yeo George Yong-Boon
Role Director
Type Security Shares Price Value
Exercise Restricted Share Units (RSUs) F2, F4, F1 1,045 $0.00 $0.00
Exercise Restricted Share Units (RSUs) F2, F5, F1 539 $0.00 $0.00
Grant/Award Restricted Share Units (RSUs) F2, F6, F1 423 $0.00 $0.00
Exercise ADSs F1, F2 1,584 -- --
holding ADSs F1, F3 -- -- --
Holdings After Transaction: Restricted Share Units (RSUs) — 963 shares (Direct); ADSs — 87,212 shares (Direct)
Footnotes (6)
  1. F1. Each American depositary share ("ADS") of the Issuer represents four (4) Class A ordinary shares.
  2. F2. Each RSU represents the right to receive, at settlement after vesting, one American depositary share ("ADS").
  3. F3. These ADSs are jointly owned with the Reporting Person's spouse.
  4. F4. These RSUs vested on August 1, 2026 and were settled in ADSs on the same date.
  5. F5. 539 of these RSUs vested on August 1, 2026 and were settled in ADSs on the same date. 270 of these RSUs are scheduled to vest on each of August 1, 2027 and August 1, 2028, subject in each case to continued service through each vesting date.
  6. F6. 50% of these RSUs are scheduled to vest on August 1, 2028 and 25% of these RSUs are scheduled to vest on each of August 1, 2029 and August 1, 2030, subject in each case to continued service through each vesting date.
RSUs settled 1045 RSUs RSUs vested and settled into ADSs on August 1, 2026
Additional RSUs settled 539 RSUs RSUs vested and settled into ADSs on August 1, 2026
ADSs acquired 1584 ADSs ADSs received upon RSU settlement on August 1, 2026
RSUs granted 423 RSUs New RSU award granted on August 1, 2026
Future vesting tranches 270 RSUs Scheduled to vest on each of August 1, 2027 and August 1, 2028
ADS to share ratio 1 ADS = 4 Class A ordinary shares Each ADS represents four Class A ordinary shares
New grant vesting split 50%, 25%, 25% New RSU grant vests 50% in 2028 and 25% in 2029 and 2030
Restricted Share Units (RSUs) financial
"Each RSU represents the right to receive, at settlement after vesting, one ADS."
Restricted share units (RSUs) are a form of employee pay where a company promises to give shares (or their cash value) to workers after certain conditions, usually time or performance, are met. For investors, RSUs matter because they can increase the number of shares outstanding and signal how management is being paid and incentivized—think of them as delayed bonuses that convert into ownership when vesting conditions are satisfied.
American depositary share ("ADS") financial
"Each American depositary share ("ADS") of the Issuer represents four Class A ordinary shares."
An American Depositary Share (ADS) is a U.S.-listed certificate issued by a U.S. bank that represents one or more ordinary shares of a foreign company, letting U.S. investors buy and sell that foreign stock in dollars on U.S. markets. It matters because ADSs make access to overseas companies easier and more convenient—like a local ticket that stands in for a foreign product—while affecting liquidity, dividend payments, currency conversion and the regulatory disclosures investors rely on.
Class A ordinary shares financial
"represents four Class A ordinary shares."
Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.
vested financial
"These RSUs vested on August 1, 2026 and were settled in ADSs on the same date."

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FAQ

What transactions did PDD (PDD) director George Yeo report on August 1, 2026?
George Yeo reported RSU vesting and settlement into 1584 ADSs and a 423-RSU grant on August 1, 2026. The filing reflects equity compensation activity rather than open-market share purchases or sales.

How many ADSs did PDD (PDD) director George Yeo receive from RSU settlements?
He received 1584 ADSs, reflecting the vesting and settlement of 1045 and 539 Restricted Share Units. Each vested RSU converted into one ADS as described in the filing footnotes.

What new RSU grant did PDD (PDD) award to director George Yeo?
George Yeo received a new award of 423 RSUs, each representing one ADS. The grant vests 50% on August 1, 2028 and 25% on each of August 1, 2029 and August 1, 2030, subject to continued service.

What is the future vesting schedule for George Yeo’s earlier RSUs at PDD (PDD)?
From an earlier RSU award, 270 RSUs are scheduled to vest on August 1, 2027 and another 270 RSUs on August 1, 2028. These future vestings remain subject to continued service through each vesting date.

How do PDD (PDD) ADSs relate to Class A ordinary shares in this filing?
The filing states that each American depositary share (ADS) represents four Class A ordinary shares. RSUs settle into ADSs, so underlying Class A share exposure is four times the number of ADSs received.

Are any of PDD (PDD) director George Yeo’s ADSs jointly owned?
Yes. A footnote explains that certain ADS holdings are jointly owned with his spouse. This clarifies the nature of ownership but does not change the number of ADSs reported as associated with the director.
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Yeo George Yong-Boon
(Last)(First)(Middle)
FIRST FLOOR, 25 ST STEPHEN'S GREEN
(Street)
DUBLIN 2D02 XF99
(City)(State)(Zip)
IRELAND
(Country)		2. Issuer Name and Ticker or Trading Symbol
PDD Holdings Inc. [ PDD ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
ADSs(1)08/01/2026M1,584A(2)27,212D
ADSs(1)60,000(3)D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Share Units (RSUs)(2)08/01/2026M1,045 (4) (4)ADSs(1)1,045$0.000D
Restricted Share Units (RSUs)(2)08/01/2026M539 (5) (5)ADSs(1)539$0.00540D
Restricted Share Units (RSUs)(2)08/01/2026A423 (6) (6)ADSs(1)423$0.00423D
Explanation of Responses:
1. Each American depositary share ("ADS") of the Issuer represents four (4) Class A ordinary shares.
2. Each RSU represents the right to receive, at settlement after vesting, one American depositary share ("ADS").
3. These ADSs are jointly owned with the Reporting Person's spouse.
4. These RSUs vested on August 1, 2026 and were settled in ADSs on the same date.
5. 539 of these RSUs vested on August 1, 2026 and were settled in ADSs on the same date. 270 of these RSUs are scheduled to vest on each of August 1, 2027 and August 1, 2028, subject in each case to continued service through each vesting date.
6. 50% of these RSUs are scheduled to vest on August 1, 2028 and 25% of these RSUs are scheduled to vest on each of August 1, 2029 and August 1, 2030, subject in each case to continued service through each vesting date.
/s/ George Yong-Boon Yeo08/04/2026
** Signature of Reporting PersonDate
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 4 (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 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR