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Waterdrop Inc. Director's Dealing 2026

Mar 17, 2026

32626_dirs_2026-03-17_452c5d64-a297-4c1c-a387-8fec6823d75d.zip

Director's Dealing

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SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Waterdrop Inc. (WDH)
CIK: 0001823986
Period of Report: 2026-03-17

Reporting Person: XU XIAOYING (Head of Finance)

Holdings (Non-Derivative)

Security Shares Ownership
Class A ordinary shares 600000 Direct
Class A ordinary shares 4500000 Direct
Class A ordinary shares 1000000 Direct
Class A ordinary shares 553820 Direct
Class A ordinary shares 700000 Direct

Footnotes

F1: Represents 4,500,000 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 March 25, 2023, representing the contingent right to receive Class A ordinary shares of the Issuer. Of such restricted share units, restricted share units for 2,025,000 Class A ordinary shares have been vested and the remaining will vest in installments on March 25, 2026 and March 25, 2027.

F2: Represents 1,000,000 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 400,000 Class A ordinary shares have been vested and the remaining will vest in installments on March 1, 2027 and March 1, 2028.

F3: Represents 553,820 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.

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 vest in installments on February 1, 2027, February 1, 2028, February 1, 2029, and February 1, 2030.