Pony AI (PONY) director Fei Zhang lists indirect Class A share holdings

Rhea-AI Filing Summary

Pony AI Inc. director Fei (F.) Zhang filed an initial Form 3 reporting indirect holdings of Class A Ordinary Shares. The filing shows 882,116 shares held through Neumann Capital and 149,764 shares held through Cassini Partners, L.P. Zhang has discretionary investment power but disclaims beneficial ownership beyond his economic interest.

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^*

ZHANG FEI (F.)

(Last) (First) (Middle)

1301 PEARL DEVELOPMENT BLDG, 1 MINGZHU

1ST STREET, HENGLI TOWN, NANSHA DISTRICT

(Street)

GUANGZHOU 511458

(City) (State) (Zip)

CHINA

(Country)

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

3. Issuer Name and Ticker or Trading Symbol
Pony AI Inc. [ PONY ]

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)
Class A Ordinary Shares	882,116	I	By Neumann Capital(1)
Class A Ordinary Shares	149,764	I	By Cassini Partners, L.P.(2)

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

Explanation of Responses:

1. Mr. Fei Zhang has the discretionary power in investment decision making in Neumann Capital. Mr. Fei Zhang disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

2. Mr. Fei Zhang has the discretionary power in investment decision making in Cassini Partners, L.P. Mr. Fei Zhang disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Tian Gao, Attorney-in-Fact for Fei Zhang	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 does Pony AI (PONY) disclose in Fei Zhang’s Form 3?

The Form 3 shows Fei (F.) Zhang as a director of Pony AI Inc. with indirect holdings of Class A Ordinary Shares through two investment entities. It establishes his initial reportable position under Section 16 without indicating any recent share purchases or sales.

How many Pony AI (PONY) shares are reported as held by Neumann Capital?

The filing reports 882,116 Class A Ordinary Shares of Pony AI Inc. held indirectly through Neumann Capital. Fei Zhang has discretionary investment decision power for Neumann Capital but disclaims beneficial ownership of these securities except to the extent of his pecuniary, or economic, interest.

How many Pony AI (PONY) shares are reported as held by Cassini Partners, L.P.?

The Form 3 lists 149,764 Class A Ordinary Shares of Pony AI Inc. held indirectly through Cassini Partners, L.P. Fei Zhang exercises discretionary investment decision-making for this partnership but disclaims beneficial ownership beyond any pecuniary interest he may have in the reported securities.

Did Fei Zhang buy or sell Pony AI (PONY) shares in this Form 3?

This Form 3 does not report any new purchases or sales of Pony AI shares. It is an initial ownership statement that records existing indirect holdings through Neumann Capital and Cassini Partners, L.P., rather than documenting market transactions or changes in his overall position.

What does it mean that Fei Zhang disclaims beneficial ownership of Pony AI (PONY) shares?

The disclaimer means Fei Zhang does not concede full beneficial ownership of the reported shares, even though he has discretionary investment power. He recognizes only his pecuniary interest, so the holdings are primarily attributed to Neumann Capital and Cassini Partners, L.P., which legally hold the securities.

Are the Pony AI (PONY) shares held directly by Fei Zhang or by related entities?

All reported Class A Ordinary Shares are held indirectly through Neumann Capital and Cassini Partners, L.P. The Form 3 specifies indirect ownership with the notation “By Neumann Capital” and “By Cassini Partners, L.P.” rather than showing any directly owned Pony AI shares in Zhang’s personal name.