VNET SVP reports 158,400 RSUs in Form 3

VNET Group, Inc. senior vice president of operational finance, Zhang Zhihua, has filed an initial ownership statement showing holdings of restricted share units.

Rhea-AI Filing Summary

VNET Group, Inc. senior vice president of operational finance, Zhang Zhihua, has filed an initial ownership statement showing holdings of restricted share units. The filing reports 158,400 RSUs tied to Class A ordinary shares. These awards were granted under the company’s share incentive plans.

According to the vesting schedule, 79,200 RSUs are scheduled to vest on October 31, 2026 and the remaining 79,200 RSUs on October 31, 2027. Each RSU represents the right to receive one Class A ordinary share upon vesting, and the RSUs do not have an expiration date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider ZHANG ZHIHUA

Role SVP, Operational Finance

Type	Security	Shares	Price	Value
holding	Restricted Share Units (RSUs)	--	--	--

Holdings After Transaction: Restricted Share Units (RSUs) — 158,400 contracts (Direct)

Footnotes (2)

1. F1. Represents RSUs granted to the reporting person pursuant to the issuer's share incentive plans, of which 79,200 RSUs will vest on October 31, 2026 and the remaining 79,200 RSUs will vest on October 31, 2027. Each RSU represents the contingent right to receive one (1) Class A ordinary share of the issuer upon vesting.
2. F2. These RSUs do not have an expiration date.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the VNET (VNET) Form 3 filing by Zhang Zhihua report?

The Form 3 filing reports that SVP of Operational Finance Zhang Zhihua holds 158,400 restricted share units. These RSUs were granted under VNET’s share incentive plans and represent future rights to Class A ordinary shares, subject to the stated vesting schedule.

How many RSUs does VNET executive Zhang Zhihua hold according to the Form 3?

The filing shows Zhang Zhihua holds 158,400 restricted share units. These RSUs are linked to Class A ordinary shares and are structured to vest in two equal installments, providing equity-based compensation over time rather than an immediate share position.

What is the vesting schedule for Zhang Zhihua’s VNET restricted share units?

The RSUs vest in two tranches: 79,200 RSUs on October 31, 2026 and 79,200 RSUs on October 31, 2027. Vesting means the executive becomes entitled to receive the underlying Class A ordinary shares on those dates.

What does each RSU in the VNET Form 3 represent for Zhang Zhihua?

Each RSU represents a contingent right to receive one Class A ordinary share of VNET upon vesting. Until vesting, RSUs are not actual shares, but a promise of future equity, aligning the executive’s compensation with the company’s long-term performance.

Do Zhang Zhihua’s VNET RSUs reported on Form 3 have an expiration date?

The filing notes that these RSUs do not have an expiration date. Instead, they are governed by the specified vesting dates and the issuer’s share incentive plan terms, after which vested units convert into Class A ordinary shares for the executive.

Is the VNET Form 3 for Zhang Zhihua a buy or sell transaction?

The Form 3 is an initial ownership report, not a buy or sell trade. It discloses existing holdings of 158,400 RSUs granted as equity compensation, providing transparency into the executive’s derivative-based interest in VNET’s Class A ordinary shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/17/2026 - 08:57 AM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

ZHANG ZHIHUA

(Last) (First) (Middle)

GUANJIE BUILDING, SOUTHEAST 1ST FL 10#

JIUXIANQIAO EAST ROAD, CHAOYANG DISTRICT

(Street)

BEIJING F4 100016

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026

3. Issuer Name and Ticker or Trading Symbol
VNET Group, Inc. [ VNET ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Operational Finance

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)

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 Share Units (RSUs)	(1)	(2)	Class A ordinary shares	158,400	(1)	D

Explanation of Responses:

1. Represents RSUs granted to the reporting person pursuant to the issuer's share incentive plans, of which 79,200 RSUs will vest on October 31, 2026 and the remaining 79,200 RSUs will vest on October 31, 2027. Each RSU represents the contingent right to receive one (1) Class A ordinary share of the issuer upon vesting.

2. These RSUs do not have an expiration date.

	/s/ Zhihua Zhang	03/17/2026
	** 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.