Yatsen Holding (NYSE: YSG) CSO discloses major option grant and spouse shares

Rhea-AI Filing Summary

Yatsen Holding Ltd Chief Scientific Officer Cheng Jing filed an initial statement of holdings. The filing reports share options covering 11,824,609 Class A ordinary shares at an exercise price of $0.0250 per share, expiring on February 28, 2033. These options were granted on February 28, 2023 and vest over five years, with specific tranches vesting annually from February 1, 2024 through February 1, 2028 under an award agreement. In addition, 76,000 Class A ordinary shares are reported as held indirectly through the officer’s spouse.

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^*

Cheng Jing

(Last) (First) (Middle)

FLOOR 39, POLY DEVELOPMENT PLAZA

NO. 832 YUE JIANG ZHONG ROAD

(Street)

GUANGZHOU F4 510335

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/16/2026

3. Issuer Name and Ticker or Trading Symbol
Yatsen Holding Ltd [ YSG ]

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

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

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	76,000	I	By spouse

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)	(1)	02/28/2033	Class A ordinary shares	11,824,609	$0.025	D

Explanation of Responses:

1. Represents share options granted on February 28, 2023. The options vest over a 5-year period, with 1,035,900 shares vesting on February 1, 2024, 2,697,160 shares vesting on February 1, 2025, 2,697,160 shares vesting on February 1, 2026, 2,697,160 shares vesting on February 1, 2027, and 2,697,229 shares vesting on February 1, 2028, subject to the terms and conditions of the underlying award agreement.

	/s/ Jing Cheng	03/16/2026
	** 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.
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FAQ

What does Yatsen Holding (YSG) Chief Scientific Officer report on this Form 3?

The filing reports Cheng Jing’s initial holdings in Yatsen Holding Ltd, including a large grant of share options and a smaller indirect share position held through a spouse, giving transparency into the executive’s current equity-based interests in the company.

How many Yatsen (YSG) share options does Cheng Jing hold and at what exercise price?

Cheng Jing holds share options over 11,824,609 Class A ordinary shares, with an exercise price of $0.0250 per share. These options provide the right, but not the obligation, to buy shares at that fixed price before they expire.

What is the vesting schedule of Cheng Jing’s Yatsen (YSG) share options?

The options were granted on February 28, 2023 and vest over five years. Tranches vest on February 1 each year from 2024 through 2028, subject to the terms and conditions of the underlying award agreement governing the grant.

When do the reported Yatsen (YSG) share options held by Cheng Jing expire?

The share options reported for Cheng Jing expire on February 28, 2033. After this expiration date, any unexercised portion of the options would no longer be available, limiting the time window during which these rights to buy shares can be used.

What indirect Yatsen (YSG) share ownership is reported for Cheng Jing on this Form 3?

The filing shows indirect ownership of 76,000 Class A ordinary shares held "By spouse." This indicates a separate shareholding attributed to Cheng Jing through a spouse relationship, in addition to the directly held share options position.

Does this Yatsen (YSG) Form 3 show any recent insider buying or selling?

The Form 3 lists existing holdings rather than new trades. It reports share options and indirect share ownership, with transactions categorized as holdings and transaction direction marked as unknown, so it does not document explicit open-market buying or selling activity.