Jinfeng Huang - 16 Mar 2026 Form 3 Insider Report for Yatsen Holding Ltd (YSG)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Jinfeng Huang
Issuer symbol
YSG
Transactions as of
16 Mar 2026
Net transactions value
$0
Form type
3
Filing time
16 Mar 2026, 06:47:17 UTC
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Huang Jinfeng Chief Executive Officer, Director, 10%+ Owner FLOOR 39, POLY DEVELOPMENT PLAZA, NO. 832 YUE JIANG ZHONG ROAD, GUANGZHOU, CHINA /s/ Jinfeng Huang 16 Mar 2026 0001844267

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding YSG Class A ordinary shares 38,628,060 16 Mar 2026 See footnote F1
holding YSG Class B ordinary shares 600,572,880 16 Mar 2026 See footnote F1
holding YSG Class A ordinary shares 4,470,234 16 Mar 2026 See footnote F2
holding YSG Class A ordinary shares 1,724,260 16 Mar 2026 By spouse

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 YSG Share Options (Right to Buy) 16 Mar 2026 Class A ordinary shares 13,159,520 $0.0250 By spouse F3
holding YSG Share Options (Right to Buy) 16 Mar 2026 Class A ordinary shares 8,800,691 $0.0250 By spouse F4
holding YSG Convertible Senior Note 16 Mar 2026 Class A ordinary shares 259,179,300 $0.2315 See footnote F5, F6
holding YSG Warrants (Right to Buy) 16 Mar 2026 Class A ordinary shares 25,917,930 $0.5000 See footnote F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 By Veritas Vision Holding Limited, a British Virgin Islands company wholly-owned by Mr. Jinfeng Huang.
F2 By Yellow Bee Limited, a British Virgin Islands company. Veritas Vision Holding Limited owns the entire voting shares of Yellow Bee Limited and Mr. Jinfeng Huang is the sole director of Yellow Bee Limited.
F3 Represents share options granted on March 31, 2023. The options vest over a 5-year period, with 1,696,540 shares vesting on January 1, 2024, 2,022,880 shares vesting on January 1, 2025, 2,697,160 shares vesting on January 1, 2026, 2,697,160 shares vesting on January 1, 2027, and 4,045,780 shares vesting on January 1, 2028, subject to the terms and conditions of the underlying award agreement.
F4 Represents share options granted on February 13, 2026. The options vest over a 3-year period, with 2,933,564 shares vesting on January 1, 2027, 2,933,564 shares vesting on January 1, 2028, and 2,933,563 shares vesting on January 1, 2029, subject to the terms and conditions of the underlying award agreement.
F5 On March 11, 2026, Polaris Veritas Investment Limited (the "Purchaser") entered into an agreement with the Issuer, under which the Issuer agreed to sell to the Purchaser convertible senior notes in an aggregate principal amount equivalent to US$120 million in two equal tranches ("First Note" and "Second Note"; together, "Notes"). The First Note is expected to be issued in March 2026 with a 364-day maturity, which will extend to five years upon completion of regulatory filings. If maturity is extended, the conversion window opens on the 364th day following issuance. If not, conversion may only occur on the original maturity date. Upon conversion, the First Note is convertible into Class A ordinary shares or ADSs, at $0.2315 per Class A ordinary share. The amount reported represents the maximum shares issuable upon full conversion of the First Note. The issuance of the Second Note is subject to regulatory procedures and other closing conditions.
F6 By Polaris Veritas Investment Limited, a Cayman Islands exempted company affiliated with Mr. Jinfeng Huang and Trustar Capital.
F7 Concurrently with the First Note, the Issuer will also issue to the Purchaser two warrants on identical terms, entitling the Purchaser to acquire in aggregate a number of Class A ordinary shares equal to one-tenth of the Class A ordinary shares issued upon conversion of the First Note, at an exercise price of $0.50 per Class A ordinary share. Each warrant will become exercisable only upon and to the extent the First Note is converted into Class A ordinary shares (including represented by ADSs). The exercise period for each warrant will expire on the maturity date of the First Note. The amount reported represents the maximum shares issuable upon full exercise of those warrants and assumes full conversion of the First Note. The number of shares issuable upon exercise of the warrants is subject to adjustment pursuant to the warrant terms. Subject to certain closing conditions, additional warrants on substantially the same terms may be issued concurrently with the Second Note.