Nian Liu - 17 Mar 2026 Form 3 Insider Report for Waterdrop Inc. (WDH)

Source evidence Original filing metadata and source links for verification. 3 source fields
SEC form
3
Accepted by SEC
17 Mar 2026, 11:32:40 UTC
Source filing
View source filing
Reporting owner 1 detail
Reporting owner signature
/s/Nian Liu

Key filing fact

Nian Liu filed Form 3 for Waterdrop Inc. (WDH) on 17 Mar 2026.

Key facts

  • This page summarizes Nian Liu's Form 3 filing for Waterdrop Inc. (WDH).
  • 0 reported transactions and 2 derivative rows are listed below.
  • Accepted by SEC: 17 Mar 2026, 11:32.

Change

  • No earlier filing in this sequence is available for direct comparison.
  • Current net transaction value: $0.

Research use

  • This tells you what this filing adds before you inspect full transaction and derivative tables.
  • You can trace every row back to the original SEC filing document.

Evidence

Official SEC source

Ownership activity is grounded in SEC Form 3 disclosures.

View source filing

Reporting Owners (1)

CIK 0002117815 Primary reporting owner

Liu Nian

Relationship
Head of Legal
Address
NO. 203 WANGJING LIZE ZHONGYUAN ZONE 2, CHAOYANG DISTRICT, BEIJING, CHINA
Signature
/s/Nian Liu
Signature date
17 Mar 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

WDH holding

Class A ordinary shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
700,000
Date
17 Mar 2026
Ownership
Direct
Footnotes
F1
WDH holding

Class A ordinary shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
900,000
Date
17 Mar 2026
Ownership
Direct
Footnotes
F2
WDH holding

Class A ordinary shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
552,610
Date
17 Mar 2026
Ownership
Direct
Footnotes
F3
WDH holding

Class A ordinary shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
700,000
Date
17 Mar 2026
Ownership
Direct
Footnotes
F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

WDH holding Derivative

Share Options (Right to Buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date
17 Mar 2026
Ownership
Direct
Underlying class
Class A ordinary shares
Underlying amount
500,000
Exercise price
Footnotes
F5
WDH holding Derivative

Share Options (Right to Buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date
17 Mar 2026
Ownership
Direct
Underlying class
Class A ordinary shares
Underlying amount
200,000
Exercise price
Footnotes
F6
* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 6 footnotes

Footnote F1

Represents 700,000 Class A ordinary shares of the Issuer issued or issuable upon the vesting of the underlying restricted share unit awards. These restricted share units were granted on October 1, 2022, representing the contingent right to receive Class A ordinary shares of the Issuer. Of such restricted share units, restricted share units for 455,000 Class A ordinary shares have been vested and the remaining will vest on October 1, 2026.

Footnote F2

Represents 900,000 Class A ordinary shares of the Issuer issued or issuable upon the vesting of the underlying restricted share unit awards. These restricted share units were granted on April 1, 2024, representing the contingent right to receive Class A ordinary shares of the Issuer. Of such restricted share units, restricted share units for 360,000 Class A ordinary shares have been vested and the remaining will vest in installments on March 1, 2027 and March 1, 2028.

Footnote F3

Represents 552,610 Class A ordinary shares of the Issuer issuable upon the vesting of the underlying restricted share unit awards. These restricted share units were granted on March 1, 2025, representing the contingent right to receive Class A ordinary shares of the Issuer. These restricted share units shall vest in installments on April 1, 2026, April 1, 2027, April 1, 2028, and April 1, 2029.

Footnote F4

Represents 700,000 Class A ordinary shares of the Issuer issuable upon the vesting of the underlying restricted share unit awards. These restricted share units were granted on February 24, 2026, representing the contingent right to receive Class A ordinary shares of the Issuer. These restricted share units shall in installments on February 1, 2027, February 1, 2028, February 1, 2029, and February 1, 2030.

Footnote F5

These options were granted on March 25, 2021. All options granted have been fully vested and exercisable as of the date hereof. The exercise price for these options is US$0.08 per Class A ordinary share.

Footnote F6

These options were granted on March 25, 2021. All options granted have been fully vested and exercisable as of the date hereof. The exercise price for these options is US$0.08 per Class A ordinary share.

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