Anthony Kam Ping Leung - 18 Mar 2026 Form 3 Insider Report for PDD Holdings Inc. (PDD)

Role: Director
Signature: /s/ Anthony Kam Ping Leung
Issuer symbol: PDD
Transactions as of: 18 Mar 2026
Net transactions value: $0
Form type: 3
Filing time: 18 Mar 2026, 21:06:44 UTC
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Kam Anthony Ping Leung	Director	FIRST FLOOR, 25 ST STEPHEN'S GREEN, DUBLIN 2, IRELAND	/s/ Anthony Kam Ping Leung	18 Mar 2026	0001993262

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	PDD	ADSs						1,533	18 Mar 2026	Direct	F1

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	Restricted Share Units (RSUs)							18 Mar 2026	ADSs	1,220		Direct	F1, F2, F3
holding	PDD	Restricted Share Units (RSUs)							18 Mar 2026	ADSs	641		Direct	F1, F3, F4
holding	PDD	Restricted Share Units (RSUs)							18 Mar 2026	ADSs	455		Direct	F1, F3, F5
holding	PDD	Restricted Share Units (RSUs)							18 Mar 2026	ADSs	267		Direct	F1, F3, F6
holding	PDD	Restricted Share Units (RSUs)							18 Mar 2026	ADSs	971		Direct	F1, F3, F7
holding	PDD	Restricted Share Units (RSUs)							18 Mar 2026	ADSs	1,125		Direct	F1, F3, F8
holding	PDD	Restricted Share Units (RSUs)							18 Mar 2026	ADSs	297		Direct	F1, F3, F9
holding	PDD	Restricted Share Units (RSUs)							18 Mar 2026	ADSs	334		Direct	F1, F3, F10

* 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") of the Issuer represents four (4) Class A ordinary shares.
F2	These RSUs are scheduled to vest on September 1, 2026, subject to continued service through the vesting date.
F3	Each RSU represents the right to receive, at settlement after vesting, one American depositary share ("ADS") of the Issuer.
F4	These RSUs are scheduled to vest on March 1, 2027, subject to continued service through the vesting date.
F5	These RSUs are scheduled to vest on September 1, 2027, subject to continued service through the vesting date.
F6	These RSUs are scheduled to vest on March 1, 2028, subject to continued service through the vesting date.
F7	50% of these RSUs are scheduled to vest on September 1, 2026 and 25% of these RSUs are scheduled to vest on each of September 1, 2027 and September 1, 2028, subject in each case to continued service through each vesting date.
F8	50% of these RSUs are scheduled to vest on March 1, 2027 and 25% of these RSUs are scheduled to vest on each of March 1, 2028 and March 1, 2029, subject in each case to continued service through each vesting date.
F9	50% of these RSUs are scheduled to vest on September 1, 2027 and 25% of these RSUs are scheduled to vest on each of September 1, 2028 and September 1, 2029, subject in each case to continued service through each vesting date.
F10	50% of these RSUs are scheduled to vest on March 1, 2028 and 25% of these RSUs are scheduled to vest on each of March 1, 2029 and March 1, 2030, subject in each case to continued service through each vesting date.