Director George Yong-Boon Yeo filed a Form 4 with the SEC on August 4, 2026, disclosing changes in beneficial ownership of PDD Holdings Inc. (NASDAQ: PDD) American depositary shares and restricted share units stemming from transactions dated August 1, 2026.

Key Highlights

  • RSU settlement: 1,584 ADSs were acquired on August 1, 2026, via an "M" (exercise/conversion) transaction code, reflecting RSU settlements.
  • Direct ADS ownership: Following the reported transaction, Yeo directly beneficially owned 27,212 ADSs.
  • Jointly owned ADSs: An additional 60,000 ADSs are jointly owned with the reporting person's spouse, held directly.
  • RSU batch fully vested: 1,045 RSUs vested and were settled in ADSs on August 1, 2026, leaving zero RSUs remaining in that tranche.
  • Partial RSU vesting: 539 RSUs vested and settled on August 1, 2026; 540 RSUs remain, scheduled to vest 270 each on August 1, 2027 and August 1, 2028, subject to continued service.
  • New RSU grant: 423 RSUs were acquired, with 50% scheduled to vest on August 1, 2028 and 25% each on August 1, 2029 and August 1, 2030, subject to continued service.
  • ADS-to-share ratio: Each ADS of PDD Holdings represents four Class A ordinary shares, and each RSU represents the right to receive one ADS upon settlement.

George Yeo's RSU Vesting and ADS Holdings at PDD Holdings

According to the filing, director George Yong-Boon Yeo reported three RSU-related transactions on August 1, 2026, all coded "M" (exercise or conversion) or "A" (acquisition). The first involved 1,045 RSUs that vested and were settled in ADSs on August 1, 2026, with no RSUs remaining in that tranche. The second involved a tranche in which 539 RSUs vested and settled on the same date; 540 RSUs remain outstanding from that tranche, with 270 scheduled to vest on each of August 1, 2027 and August 1, 2028, subject to continued service through each vesting date.

The filing also disclosed a new grant of 423 RSUs, acquired on August 1, 2026. According to the filing, 50% of these RSUs are scheduled to vest on August 1, 2028, and 25% each are scheduled to vest on August 1, 2029 and August 1, 2030, in each case subject to continued service through the applicable vesting date. The price of the derivative security for all RSU transactions is listed as $0.00.

Following all reported transactions, Yeo directly beneficially owned 27,212 ADSs and an additional 60,000 ADSs jointly with his spouse, the filing stated. The reporting person's address is listed as First Floor, 25 St Stephen's Green, Dublin 2, Ireland. The form was filed by one reporting person and signed on August 4, 2026.

What Was Disclosed

The filing covers RSU vesting, settlement into ADSs, a new RSU grant, and resulting beneficial ownership for PDD Holdings director George Yong-Boon Yeo, based on transactions dated August 1, 2026, and filed August 4, 2026.