Vipshop (VIPS) director Liu Chun details initial share and option holdings

Rhea-AI Filing Summary

Vipshop Holdings Ltd director Liu Chun filed an initial ownership report showing existing equity interests rather than new trades. The filing lists Class A ordinary shares held directly, including 4,307 shares issuable from restricted share awards that were granted on April 1, 2024 and are scheduled to vest quarterly until April 1, 2028 under their award terms. It also records indirect holdings through Big Dream Investments Limited, a controlled corporation, including share options giving the right to buy Class A ordinary shares at an exercise price of $0.50 per share that are fully vested and exercisable and expire on January 1, 2028, as well as additional indirectly held Class A ordinary shares. This Form 3 establishes Liu’s starting ownership position and compensation-linked equity awards as a director.

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^*

Liu Chun

(Last) (First) (Middle)

TOWER B, POSCO CENTER,

HONGTAI EAST STREET, CHAOYANG DISTRICT

(Street)

BEIJING 100102

(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
Vipshop Holdings Ltd [ VIPS ]

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	2,131	D
Class A ordinary shares(1)	4,307	D
Class A ordinary shares	10,113	I	See Footnote(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
Share Options (Right to Buy)	(3)	01/01/2028	Class A ordinary shares	10,000	$0.5	I	See Footnote(2)

Explanation of Responses:

1. Represents 4,307 Class A ordinary shares issuable upon vesting of the underlying restricted share awards that remain outstanding as of the date hereof. The underlying restricted share awards were granted by the Issuer on April 1, 2024. The remaining restricted share awards will vest in equal installments on a quarterly basis until April 1, 2028, subject to the terms and conditions of the underlying award agreement.

2. These securities are directly held by Big Dream Investments Limited, a controlled corporation of the reporting person.

3. All options granted have been fully vested and exercisable as of the date hereof.

	/s/ Chun Liu	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 Vipshop (VIPS) director Liu Chun report on this Form 3?

Liu Chun reports existing ownership in Vipshop Class A ordinary shares and related equity awards. The filing lists direct shares, unvested restricted share awards vesting through 2028, and indirect holdings and options via Big Dream Investments Limited, establishing Liu’s starting ownership position as a director.

Are there any buy or sell transactions in Liu Chun’s Vipshop (VIPS) Form 3?

No, this Form 3 does not show new buy or sell transactions. It is an initial ownership statement listing existing direct and indirect holdings, restricted share awards, and fully vested options, rather than reporting open-market purchases or sales of Vipshop Class A ordinary shares.

What restricted share awards does Liu Chun hold in Vipshop (VIPS)?

Liu Chun holds 4,307 Class A ordinary shares issuable upon vesting of restricted share awards granted on April 1, 2024. These awards remain outstanding and are scheduled to vest in equal quarterly installments until April 1, 2028, subject to their award agreement terms and conditions.

What stock options related to Vipshop (VIPS) does Liu Chun report?

The filing shows share options with an exercise price of $0.50 per Class A ordinary share, expiring January 1, 2028. All options granted are fully vested and exercisable as of the reporting date and are held indirectly through Big Dream Investments Limited, a controlled corporation.

How are Liu Chun’s indirect Vipshop (VIPS) holdings structured?

Liu Chun’s indirect holdings are reported as being directly held by Big Dream Investments Limited, described as a controlled corporation of the reporting person. These indirect positions include fully vested share options and additional Class A ordinary shares attributed to that entity.

What is the significance of this Vipshop (VIPS) Form 3 for investors?

This Form 3 simply establishes Liu Chun’s initial equity stake and compensation-related awards as a Vipshop director. It clarifies direct and indirect ownership, unvested restricted shares vesting through 2028, and fully vested options, but does not indicate new trading activity or changes in ownership direction.