VNET Group (VNET) director David Chen discloses RSUs and share holdings

Rhea-AI Filing Summary

VNET Group, Inc. director David Lifeng Chen filed an initial ownership report showing significant equity holdings in the company. He holds 584,796 Restricted Share Units (RSUs), each representing the right to receive one Class A ordinary share upon vesting with no expiration date.

According to the vesting schedule, 83,544 RSUs will vest on each of April 30, 2026, July 31, 2026, January 31, 2027, April 30, 2027 and October 31, 2027, and 83,538 RSUs will vest on October 31, 2026 and July 31, 2027. He also directly holds 417,708 Class A ordinary shares, held in the form of American depositary shares, with each ADS representing six Class A ordinary shares.

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^*

Chen David Lifeng

(Last) (First) (Middle)

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)

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

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)
Class A ordinary shares(1)	417,708	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
Restricted Share Units (RSUs)	(2)	(3)	Class A ordinary shares	584,796	(2)	D

Explanation of Responses:

1. The Class A ordinary shares are held in the form of American depositary shares, each representing six Class A ordinary shares of the issuer.

2. Represents RSUs granted to the reporting person pursuant to the issuer's share incentive plans, of which 83,544 RSUs will on April 30, 2026, July 31, 2026, January 31, 2027, April 30, 2027 and October 31, 2027, respectively, and 83,538 RSUs will vest on October 31, 2026 and July 31, 2027, respectively. Each RSU represents the contingent right to receive one (1) Class A ordinary share of the issuer upon vesting.

3. These RSUs do not have an expiration date.

	/s/ David Lifeng Chen	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.

FAQ

What does the VNET Form 3 filing by David Lifeng Chen report?

The Form 3 for VNET reports director David Lifeng Chen’s initial ownership in the company. It shows 584,796 RSUs and 417,708 Class A ordinary shares held directly, establishing his starting equity position as a company insider.

How many RSUs does David Lifeng Chen hold in VNET Group (VNET)?

David Lifeng Chen holds 584,796 Restricted Share Units (RSUs) linked to VNET’s Class A ordinary shares. Each RSU represents the right to receive one Class A ordinary share when it vests, providing him with a substantial potential future equity stake.

What is the vesting schedule of David Lifeng Chen’s VNET RSUs?

Chen’s VNET RSUs vest in tranches: 83,544 RSUs on April 30, 2026, July 31, 2026, January 31, 2027, April 30, 2027 and October 31, 2027, and 83,538 RSUs on October 31, 2026 and July 31, 2027, assuming continued eligibility.

How many VNET Class A shares does David Lifeng Chen already own?

He directly owns 417,708 Class A ordinary shares of VNET. These are held in the form of American depositary shares, where each ADS represents six Class A ordinary shares, giving him a meaningful existing equity position in the company.

Do David Lifeng Chen’s VNET RSUs have an expiration date?

The filing states that these RSUs do not have an expiration date. Instead of expiring, they are designed to vest on specific dates between 2026 and 2027, after which each vested RSU converts into one VNET Class A ordinary share.

What underlying security is linked to David Lifeng Chen’s VNET RSUs?

Chen’s RSUs are tied to VNET Class A ordinary shares. Each RSU represents a contingent right to receive one Class A ordinary share upon vesting, aligning his potential future equity directly with the company’s primary listed share class.