Jieru Li - 16 Mar 2026 Form 3 Insider Report for Waterdrop Inc. (WDH)

Role
VP Fin, Head of Strat & CapMkt
Signature
/s/Jieru Li
Issuer symbol
WDH
Transactions as of
16 Mar 2026
Net transactions value
$0
Form type
3
Filing time
16 Mar 2026, 07:38:38 UTC
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Li Jieru VP Fin, Head of Strat & CapMkt NO. 203 WANGJING LIZE ZHONGYUAN ZONE 2, CHAOYANG DISTRICT, BEIJING, CHINA /s/Jieru Li 16 Mar 2026 0002112013

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding WDH Class A ordinary shares 400,000 16 Mar 2026 Direct F1
holding WDH Class A ordinary shares 1,800,000 16 Mar 2026 Direct F2
holding WDH Class A ordinary shares 646,410 16 Mar 2026 Direct F3
holding WDH Class A ordinary shares 500,000 16 Mar 2026 Direct F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding WDH Share Options (Right to Buy) 16 Mar 2026 Class A ordinary shares 375,000 Direct F5
holding WDH Share Options (Right to Buy) 16 Mar 2026 Class A ordinary shares 275,000 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents 400,000 Class A ordinary shares of the Issuer issued or issuable upon the vesting of the underlying restricted share unit awards. These restricted share units were granted on October 1, 2022, representing the contingent right to receive Class A ordinary shares of the Issuer. Of such restricted share units, restricted share units for 260,000 Class A ordinary shares have been vested and the remaining will vest on October 1, 2026.
F2 Represents 1,800,000 Class A ordinary shares of the Issuer issued or issuable upon the vesting of the underlying restricted share unit awards. These restricted share units were granted on April 1, 2024, representing the contingent right to receive Class A ordinary shares of the Issuer. Of such restricted share units, restricted share units for 540,000 Class A ordinary shares have been vested and the remaining will vest in installments on March 1, 2027 and March 1, 2028.
F3 Represents 646,410 Class A ordinary shares of the Issuer issuable upon the vesting of the underlying restricted share unit awards. These restricted share units were granted on March 1, 2025, representing the contingent right to receive Class A ordinary shares of the Issuer. These restricted share units shall vest in installments on April 1, 2026, April 1, 2027, April 1, 2028, and April 1, 2029.
F4 Represents 500,000 Class A ordinary shares of the Issuer issuable upon the vesting of the underlying restricted share unit awards. These restricted share units were granted on February 24, 2026, representing the contingent right to receive Class A ordinary shares of the Issuer. These restricted share units shall vest in installments on February 1, 2027, February 1, 2028, February 1, 2029, and February 1, 2030.
F5 These options were granted on March 25, 2021. Of such options, options to purchase 250,000 Class A ordinary shares are currently exercisable and the remaining will vest and become exercisable on March 25, 2026. The exercise price for these options is US$0.08 per Class A ordinary share.
F6 These options were granted on March 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.