Waterdrop (NYSE: WDH) director reports vested RSUs and options

Rhea-AI Filing Summary

Waterdrop Inc. director Wei Chenyang has filed an initial ownership report showing equity awarded as compensation rather than new market trades. Wei holds 299,820 Class A ordinary shares issued upon vesting of restricted share units that were granted on June 25, 2023 and are now fully vested.

Wei also holds share options covering 150,000 Class A ordinary shares, granted on June 25, 2021, which are fully vested and exercisable at an exercise price of US$0.08 per Class A ordinary share. These positions reflect existing, fully vested awards and do not indicate recent buying or selling in the open market.

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^*

Wei Chenyang

(Last) (First) (Middle)

PBC SCHOOL OF FINANCE, 43 CHENGFU ROAD

HAIDIAN DISTRICT

(Street)

BEIJING F4 100000

(City) (State) (Zip)

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

3. Issuer Name and Ticker or Trading Symbol
Waterdrop Inc. [ WDH ]

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)	299,820	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
Share Options (Right to Buy)	(2)	(2)	Class A ordinary shares	150,000	(2)	D

Explanation of Responses:

1. Represents 299,820 Class A ordinary shares of the Issuer issued upon the vesting of the underlying restricted share unit awards. These restricted share units were granted on June 25, 2023. These restricted share units have been fully vested as of the date hereof.

2. These options were granted on June 25, 2021. All options granted have been fully vested and exercisable as of the date hereof. The exercise price for these options is US$0.08 per Class A ordinary share.

	/s/Chenyang Wei	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).
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FAQ

What does Wei Chenyang’s Form 3 filing for Waterdrop Inc. (WDH) show?

The filing shows Wei Chenyang’s existing equity holdings in Waterdrop Inc., including vested restricted share units and share options. It is an initial ownership report, not a record of new stock purchases or sales in the market.

How many Waterdrop (WDH) shares does Wei Chenyang directly hold?

Wei directly holds 299,820 Class A ordinary shares issued upon vesting of restricted share units. These units were granted on June 25, 2023 and have fully vested as of the filing date, converting into the stated share position.

What share options does Wei Chenyang report in Waterdrop (WDH)?

Wei reports share options over 150,000 Class A ordinary shares. These options were granted on June 25, 2021, are fully vested and exercisable, and carry an exercise price of US$0.08 per Class A ordinary share according to the disclosed footnote.

Are the equity awards in Wei Chenyang’s Waterdrop (WDH) Form 3 fully vested?

Yes. The restricted share units granting 299,820 Class A ordinary shares are fully vested, and all options over 150,000 Class A shares are fully vested and exercisable. This means Wei’s reported awards are no longer subject to vesting conditions.

Does Wei Chenyang’s Waterdrop (WDH) Form 3 indicate recent insider buying or selling?

The Form 3 records existing holdings and fully vested awards, not new trades. There are no open-market purchase or sale codes reported, so the filing mainly establishes Wei’s starting ownership position as a Waterdrop director.