Form 3 Alibaba Group Holding For: Mar 18 Filed by: Jiang Fang

March 18, 2026 8:21 AM

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person ^*

Jiang Fang

(Last)

(First)

(Middle)

26/F TOWER ONE, TIMES SQUARE

1 MATHESON STREET, CAUSEWAY BAY

(Street)

HONG KONG

00000

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Alibaba Group Holding Ltd [ BABA ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief People Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary Shares	5,534,168	D
Ordinary Shares	23,116,864	I	By trust

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Restricted Shares Units	⁽¹⁾	⁽¹⁾	Ordinary Shares ⁽²⁾	2,672 ⁽¹⁾ ⁽²⁾	⁽²⁾	D
Restricted Shares Units	⁽³⁾	⁽³⁾	Ordinary Shares ⁽²⁾	14,936 ⁽²⁾ ⁽³⁾	⁽²⁾	D
Restricted Shares Units	⁽⁴⁾	⁽⁴⁾	Ordinary Shares ⁽²⁾	31,600 ⁽²⁾ ⁽⁴⁾	⁽²⁾	D
Restricted Shares Units	⁽⁵⁾	⁽⁵⁾	Ordinary Shares ⁽²⁾	42,672 ⁽²⁾ ⁽⁵⁾	⁽²⁾	D
Restricted Shares Units	⁽⁶⁾	⁽⁶⁾	Ordinary Shares ⁽²⁾	28,336 ⁽²⁾ ⁽⁶⁾	⁽²⁾	D
Restricted Shares Units	⁽⁷⁾	⁽⁷⁾	Ordinary Shares ⁽⁸⁾	28,334 ⁽⁷⁾	⁽⁸⁾	D
Restricted Shares Units	⁽⁹⁾	⁽⁹⁾	Ordinary Shares ⁽⁸⁾	56,000 ⁽⁹⁾	⁽⁸⁾	D
Option (right to buy)	⁽¹⁰⁾	02/24/2031	Ordinary Shares	160,000	⁽¹¹⁾	D

Explanation of Responses:

1. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of American Depository Shares ("ADSs") that vests in six equal annual installments beginning on Apr 1, 2021, subject to the terms and conditions of the underlying award agreement.

2. Each restricted share unit represents a contingent right to receive one ADS. Each ADS represents 8 ordinary shares. This amount represents the ordinary shares underlying the ADSs in this award.

3. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ADSs that vests in six equal annual installments beginning on Apr 1, 2022, subject to the terms and conditions of the underlying award agreement.

4. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ADSs that vests in six equal annual installments beginning on Apr 1, 2023, subject to the terms and conditions of the underlying award agreement.

5. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ADSs that vests in six equal annual installments beginning on Apr 1, 2024, subject to the terms and conditions of the underlying award agreement.

6. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ADSs that vests in twenty-four equal quarterly installments beginning on Jul 1, 2024, subject to the terms and conditions of the underlying award agreement.

7. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in twenty-one quarterly installments, with 1/6 vesting on Jul 1, 2025 and 1/24 quarterly thereafter beginning on Oct 1, 2025, subject to the terms and conditions of the underlying award agreement

8. Each restricted share unit represents a contingent right to receive one ordinary share.

9. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in twenty-four equal quarterly installments on beginning on Jul 1, 2025, subject to the terms and conditions of the underlying award agreement.

10. Reflects an option award granted in the form of ordinary shares that vests 40% in the second year and then 30% each in the third year and the fourth year beginning on Mar 1, 2027, subject to the terms and conditions of the underlying award agreement.

11. The exercise price of this option is HK$68 per ordinary share. The exercise price reported herein was converted from Hong Kong dollars to United States dollars at a conversion price of HK$68 to US$8.72.

	/s/ Kevin Jinwei Zhang, as Attorney-in-Fact for Fang Jiang	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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Form 3 Alibaba Group Holding For: Mar 18 Filed by: Jiang Fang

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