Liu Jun - 18 Mar 2026 Form 3 Insider Report for PDD Holdings Inc. (PDD)

Role
VP of Finance
Signature
/s/ Liu Jun
Issuer symbol
PDD
Transactions as of
18 Mar 2026
Net transactions value
$0
Form type
3
Filing time
18 Mar 2026, 21:01:07 UTC
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Liu Jun VP of Finance FIRST FLOOR, 25 ST STEPHEN'S GREEN, DUBLIN 2, IRELAND /s/ Liu Jun 18 Mar 2026 0001981607

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 65,625 Direct F1, F2, F3
holding PDD Options (right to buy) 18 Mar 2026 ADSs 12,500 Direct F2, F3, F4
holding PDD Options (right to buy) 18 Mar 2026 ADSs 25,000 Direct F2, F3, F5
holding PDD Options (right to buy) 18 Mar 2026 ADSs 9,375 Direct F2, F3, F6
holding PDD Options (right to buy) 18 Mar 2026 ADSs 20,000 Direct F2, F3, F7
holding PDD Options (right to buy) 18 Mar 2026 ADSs 25,000 Direct F2, F3, F8
holding PDD Options (right to buy) 18 Mar 2026 ADSs 10,000 Direct F2, F3, F9
* 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 dates for 12,500 options, 25,000 options, 25,000 options and 3,125 are August 31, 2038, February 28, 2039, March 31, 2040 and September 30, 2041, respectively.
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 These options will become exercisable on July 5, 2026. The expiration date for these options is February 28, 2039. The date exercisable has taken into account the three-year lock-up period included as a term in the grant of options.
F5 Half of these options will become exercisable on each of the following dates: April 1, 2026 and April 1, 2027. The expiration date for these options is March 31, 2040. The date exercisable has taken into account the three-year lock-up period included as a term in the grant of options.
F6 One-third of these options will become exercisable on each of the following dates: October 1, 2026, October 1, 2027 and October 1, 2028. The expiration date for these options is September 30, 2041. The date exercisable has taken into account the three-year lock-up period included as a term in the grant of options.
F7 One-fourth of these options will become exercisable on each of the following dates: April 1, 2026, April 1, 2027, April 1, 2028 and April 1, 2029. The expiration date for these options is March 31, 2042. The date exercisable has taken into account the three-year lock-up period included as a term in the grant of options.
F8 One-fourth of these options will become exercisable on each of the following dates: May 1, 2027, May 1, 2028, May 1, 2029 and May 1, 2030. The expiration date for these options is April 30, 2043. The date exercisable has taken into account the three-year lock-up period included as a term in the grant of options.
F9 One-fourth of these options will become exercisable on each of the following dates: May 1, 2028, May 1, 2029, May 1, 2030 and May 1, 2031. The expiration date for these options is April 30, 2044. The date exercisable has taken into account the three-year lock-up period included as a term in the grant of options.