Lei (lc) Chen - 18 Mar 2026 Form 3 Insider Report for PDD Holdings Inc. (PDD)

Role
Co-Chief Executive Office, Director
Signature
/s/ Chen Lei
Issuer symbol
PDD
Transactions as of
18 Mar 2026
Net transactions value
$0
Form type
3
Filing time
18 Mar 2026, 21:01:00 UTC
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Chen Lei (LC) Co-Chief Executive Office, Director FIRST FLOOR, 25 ST STEPHEN'S GREEN, DUBLIN 2, IRELAND /s/ Chen Lei 18 Mar 2026 0002121050

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 PDD Options (right to buy) 18 Mar 2026 ADSs 330,000 Direct F1, F2, F3
holding PDD Options (right to buy) 18 Mar 2026 ADSs 250,000 Direct F2, F3, F4
holding PDD Options (right to buy) 18 Mar 2026 ADSs 13,000,000 Direct F2, F3, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These options are all exercisable as of the filing date. The expiration date for 80,000 options is August 31, 2036 and the expiration date for the remaining 250,000 options is August 31, 2040.
F2 Each American depositary share ("ADS") of the Issuer represents four (4) Class A ordinary shares.
F3 Each option represents the right to receive, at settlement after exercise, one American Depositary Share ("ADS") of the Issuer, and has an exercise price of US$0.026.
F4 Half of these options will become exercisable on September 1, 2026 and the remaining will become exercisable on September 1, 2027. The expiration date for these options is August 31, 2040. The date exercisable has taken into account the three-year lock-up period included as a term in the grant of options.
F5 One-fourth of these options will become exercisable on each of the following dates: November 1, 2027, November 1, 2028, November 1, 2029, and November 1, 2030. The expiration date for these options is October 31, 2043. The date exercisable has taken into account the three-year lock-up period included as a term in the grant of options.