SEC Form 4 · accession 0001104659-26-104422
PDD Holdings Inc. · PDD
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Anthony Ping Leung Kam
Director
Period of report
Sep 1, 2026
Accepted (ET)
Sep 2, 2026 · 6:03 am EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0001737806
Table I — non-derivative securities
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Share Units (RSUs)F2,F3,F1 | — | Sep 1, 2026 | M | 1,220 | D | — | — | ADSs | 1,220 | 0 | D |
| Restricted Share Units (RSUs)F2,F4,F1 | — | Sep 1, 2026 | M | 485 | D | — | — | ADSs | 485 | 486 | D |
| Restricted Share Units (RSUs)F2,F5,F1 | — | Sep 1, 2026 | A | 391 | A | — | — | ADSs | 391 | 391 | D |
Explanation of responses
- F1Each American depositary share ("ADS") of the Issuer represents four (4) Class A ordinary shares.
- F2Each RSU represents the right to receive, at settlement after vesting, one ADS.
- F3These RSUs vested on September 1, 2026 and were settled in ADSs on the same date.
- F4485 of these RSUs vested on September 1, 2026 and were settled in ADSs on the same date. 243 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.
- F550% of these RSUs are scheduled to vest on September 1, 2028 and 25% of these RSUs are scheduled to vest on each of September 1, 2029 and September 1, 2030, subject in each case to continued service through each vesting date.