SEC FORM 3

SEC FORM 3 SEC Form 3

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^*

Chi Xiaoyan

(Last)

(First)

(Middle)

TOWER B, POSCO CENTER

HONGTAI EAST STREET, CHAOYANG DISTRICT

(Street)

BEIJING

100102

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026

3. Issuer Name and Ticker or Trading Symbol
Phoenix New Media Ltd [ FENG ]

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

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Senior Vice President

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)

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)
Options (right to buy)	⁽¹⁾	10/16/2026	Class A Ordinary Shares	150,000	$0.4734	D
Options (right to buy)	⁽²⁾	09/13/2027	Class A Ordinary Shares	920,000	$0.4149	D
Options (right to buy)	⁽³⁾	07/04/2029	Class A Ordinary Shares	1,190,000	$0.4836	D
Options (right to buy)	⁽⁴⁾	07/19/2030	Class A Ordinary Shares	590,000	$0.1925	D

Explanation of Responses:

1. The option vests in equal annual installments over four years beginning on 10/17/2017, the first anniversary of the date of grant.

2. The option vests in equal annual installments over four years beginning on 9/14/2018, the first anniversary of the date of grant.

3. The option vests in equal annual installments over four years beginning on 7/5/2020, the first anniversary of the date of grant.

4. The option vests in equal annual installments over four years beginning on 7/20/2021, the first anniversary of the date of grant.

Remarks:

Exhibit 24 Power of Attorney.

	/s/ Yao Wang, Power of Attorney for: Chi Xiaoyan	03/17/2026
	** 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 5 (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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

SEC Form 3 filed by new insider Chi Xiaoyan