VNET director awarded 731,304 RSUs

VNET Group, Inc. director UENO Yoshihisa reported an award of 731,304 Restricted Share Units (RSUs) indirectly held through Synapse Partners Limited, which is wholly owned by him.

Rhea-AI Filing Summary

VNET Group, Inc. director UENO Yoshihisa reported an award of 731,304 Restricted Share Units (RSUs) indirectly held through Synapse Partners Limited, which is wholly owned by him. The RSUs were granted under the company’s share incentive plans and carry no exercise price.

According to the award terms, 243,768 RSUs are scheduled to vest on each of December 13, 2026, December 13, 2027, and December 13, 2028. Each RSU gives a contingent right to receive one Class A ordinary share upon vesting, and the filing notes these RSUs do not have an expiration date.

Insider Trade Summary

Grant/Award: 731,304 shares

Grant/Award 1 txn

Insider UENO Yoshihisa

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Units (RSUs)	731,304	$0.00	$0.00

Holdings After Transaction: Restricted Share Units (RSUs) — 731,304 contracts (Indirect, By Synapse Partners Limited)

Footnotes (4)

1. F1. Represents RSUs granted to the reporting person pursuant to the issuer's share incentive plans, of which 243,768 RSUs will vest on December 13, 2026, December 13, 2027 and December 13, 2028, respectively. 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.
3. F3. Represents Class A ordinary shares in the form of American depositary shares, each representing six (6) Class A ordinary shares of the issuer.
4. F4. Synapse Partners Limited is wholly owned by the reporting person.

Key Figures

RSUs granted: 731,304 RSUs Post-transaction RSU holdings: 731,304 RSUs First vesting tranche: 243,768 RSUs +4 more

7 metrics

RSUs granted 731,304 RSUs Award reported on Form 4; all acquired in a single grant

Post-transaction RSU holdings 731,304 RSUs Total RSUs indirectly held after the award

First vesting tranche 243,768 RSUs Scheduled to vest on December 13, 2026

Second vesting tranche 243,768 RSUs Scheduled to vest on December 13, 2027

Third vesting tranche 243,768 RSUs Scheduled to vest on December 13, 2028

Exercise price $0.00 per RSU No cash exercise price; share-based award

ADS share ratio 1 ADS = 6 Class A shares Each American depositary share represents six Class A ordinary shares

Key Terms

Restricted Share Units (RSUs), share incentive plans, Class A ordinary shares, American depositary shares, +1 more

5 terms

Restricted Share Units (RSUs) financial

"Represents RSUs granted to the reporting person pursuant to the issuer's share incentive plans"

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.

share incentive plans financial

"RSUs granted to the reporting person pursuant to the issuer's share incentive plans"

Class A ordinary shares financial

"Each RSU represents the contingent right to receive one (1) Class A ordinary share of the issuer"

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.

American depositary shares financial

"Represents Class A ordinary shares in the form of American depositary shares, each representing six (6) Class A ordinary shares"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

indirect ownership financial

"direct_or_indirect: I, nature_of_ownership: By Synapse Partners Limited"

FAQ

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

What insider transaction did VNET director UENO Yoshihisa report on this Form 4?

VNET director UENO Yoshihisa reported receiving 731,304 Restricted Share Units as an equity award. The RSUs are held indirectly through Synapse Partners Limited and were granted under the company’s share incentive plans with no cash purchase price.

How do the 731,304 RSUs granted to VNET’s director vest over time?

The 731,304 RSUs are scheduled to vest in three equal tranches of 243,768 units. Vesting dates are December 13, 2026, December 13, 2027, and December 13, 2028, subject to the award’s usual conditions.

What does each RSU granted to the VNET director represent upon vesting?

Each RSU represents a contingent right to receive one Class A ordinary share of VNET upon vesting. The filing also notes these Class A shares may be in the form of American depositary shares, each representing six Class A ordinary shares.

Are the RSUs granted to VNET director UENO Yoshihisa held directly or indirectly?

The RSUs are reported as indirectly owned, held by Synapse Partners Limited. A footnote explains that Synapse Partners Limited is wholly owned by UENO Yoshihisa, so the award is attributed through this entity rather than direct personal ownership.

Do the RSUs granted to the VNET director have an expiration date or exercise price?

The RSUs do not have an expiration date according to the filing footnotes. They also carry a zero exercise price, functioning as a share-based award that converts to Class A ordinary shares upon vesting rather than requiring a cash payment.

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

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Accepted by SEC EDGAR 05/15/2026 - 06:28 AM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED 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^*

UENO Yoshihisa

(Last) (First) (Middle)

SUITE 701-702, PLAZA 228

NO.228 WAN CHAI ROAD, WAN CHAI

(Street)

HONG KONG K3 00000

(City) (State) (Zip)

CHINA

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Share Units (RSUs)	(1)	05/15/2026		A		731,304		(1)	(2)	Class A ordinary shares(3)	731,304	$0	731,304(1)	I(4)	By Synapse Partners Limited

Explanation of Responses:

1. Represents RSUs granted to the reporting person pursuant to the issuer's share incentive plans, of which 243,768 RSUs will vest on December 13, 2026, December 13, 2027 and December 13, 2028, respectively. 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.

3. Represents Class A ordinary shares in the form of American depositary shares, each representing six (6) Class A ordinary shares of the issuer.

4. Synapse Partners Limited is wholly owned by the reporting person.

	/s/ Yoshihisa Ueno	05/15/2026
	** 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 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)