Yan Liang - 16 Mar 2026 Form 3 Insider Report for GDS Holdings Ltd (GDS)

Role: Executive vice president, data center design, operation and delivery
Signature: /s/ Yan Liang
Issuer symbol: GDS
Transactions as of: 16 Mar 2026
Net transactions value: $0
Form type: 3
Filing time: 16 Mar 2026, 16:17:04 UTC
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Liang Yan	Executive vice president, data center design, operation and delivery	C/O F4/F5, BLDG C, SUNLAND INTL.,, NO. 999 ZHOUHAI ROAD, PUDONG, SHANGHAI, CHINA	/s/ Yan Liang	16 Mar 2026	0001972302

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	GDS	American Depositary Shares						58,883	16 Mar 2026	Direct	F1, F2
holding	GDS	Class A ordinary shares						376,024	16 Mar 2026	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares.
F2	Total number includes settlement of fully vested (i) Restricted Stock Unit ("RSU") awards that were subject to time and performance conditions that have been fully satisfied, and (ii) Option awards. RSU awards and Option awards settle into ADSs. Each RSU and each Option represents the right to receive one (1) ADS.

Remarks:

Executive vice president, data center design, operation and delivery