<SEC-DOCUMENT>0002126576-26-000002.txt : 20260507
<SEC-HEADER>0002126576-26-000002.hdr.sgml : 20260507
<ACCEPTANCE-DATETIME>20260507161254
ACCESSION NUMBER:		0002126576-26-000002
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20260501
FILED AS OF DATE:		20260507
DATE AS OF CHANGE:		20260507

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Sluis Frank
		CENTRAL INDEX KEY:			0002126576
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40795
		FILM NUMBER:		26953423

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		FORRLIBUCKSTRASSE 190
		CITY:			ZURICH
		PROVINCE COUNTRY:   	V8
		ZIP:			8005

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			On Holding AG
		CENTRAL INDEX KEY:			0001858985
		STANDARD INDUSTRIAL CLASSIFICATION:	RUBBER & PLASTICS FOOTWEAR [3021]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				000000000
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		FORRLIBUCKSTRASSE 190
		CITY:			8005 ZURICH
		STATE:			V8
		ZIP:			00000
		BUSINESS PHONE:		41 44 225 15 55

	MAIL ADDRESS:	
		STREET 1:		FORRLIBUCKSTRASSE 190
		CITY:			8005 ZURICH
		STATE:			V8
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>form3-05072026_080550.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0607</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2026-05-01</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001858985</issuerCik>
        <issuerName>On Holding AG</issuerName>
        <issuerTradingSymbol>ONON</issuerTradingSymbol>
        <issuerForeignTradingSymbol></issuerForeignTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002126576</rptOwnerCik>
            <rptOwnerName>Sluis Frank</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>true</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>C/O ON HOLDING AG</rptOwnerStreet1>
            <rptOwnerStreet2>FORRLIBUCKSTRASSE 190</rptOwnerStreet2>
            <rptOwnerCity>ZURICH</rptOwnerCity>
            <rptOwnerNonUSStateTerritory></rptOwnerNonUSStateTerritory>
            <rptOwnerCountry>V8</rptOwnerCountry>
            <rptOwnerZipCode>8005</rptOwnerZipCode>
            <rptOwnerStateDescription>SWITZERLAND</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>CFO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes></footnotes>

    <remarks>The Reporting Person does not beneficially own any securities of the Issuer as of the date of this report.</remarks>

    <ownerSignature>
        <signatureName>/s/ Zlatina Iliev, Attorney-in-Fact</signatureName>
        <signatureDate>2026-05-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>ex24-05072026_080550.htm
<TEXT>
<!DOCTYPE html PUBLIC "-//IETF//DTD HTML//EN">
<html><head><title>ex24-05072026_080550.htm</title></head><body style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<p style="margin:0px"><br></p>
<p style="margin-top:0px; margin-bottom:14.667px; font-size:11pt" align="center"><b><u>POWER OF ATTORNEY</u></b></p>
<p style="margin-top:7.333px; margin-bottom:7.333px; text-indent:48px; font-size:11pt" align="justify">KNOW ALL BY THESE PRESENTS, that the undersigned hereby constitutes and appoints Steven Mendez, Antonios Pothoulakis, Matthew Rosi and Zlatina Iliev, and each of them, the undersigned<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font>s true and lawful attorney-in-fact to:</p>
<p style="margin-top:7.333px;margin-bottom:-1pt;font-size:1pt"></p><p style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:11pt; float:left">(1)</p>
<p style="margin-top:0px; margin-bottom:7.333px; text-indent:-2px; font-size:11pt" align="justify">execute for and on behalf of the undersigned, in the undersigned<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font>s capacity as a representative of On Holding AG (the <font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font><b><i>Company</i></b><font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font>), any and all Form 3, 4 or 5 reports required to be filed by the undersigned in accordance with Section 16(a) of the Securities Exchange Act of 1934, as amended (<font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font><b><i>Exchange Act</i></b><font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font>), and the rules thereunder with respect to transactions in securities of the Company;</p>
<p style="margin-top:7.333px;margin-bottom:-1pt;font-size:1pt"></p><p style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:11pt; clear:left; float:left">(2)</p>
<p style="margin-top:0px; margin-bottom:7.333px; text-indent:-2px; font-size:11pt" align="justify">do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Form 3, 4 or 5 report and timely file such report with the U.S. Securities and Exchange Commission and any stock exchange or similar authority; and</p>
<p style="margin-top:7.333px;margin-bottom:-1pt;font-size:1pt"></p><p style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:11pt; clear:left; float:left">(3)</p>
<p style="margin-top:0px; margin-bottom:7.333px; text-indent:-2px; font-size:11pt" align="justify">take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned, pursuant to this Power of Attorney, shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in his or her discretion.</p>
<p style="margin-top:7.333px; margin-bottom:7.333px; font-size:11pt; clear:left" align="justify">The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform each and every act and thing whatsoever requisite, necessary and proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or his or her substitute or substitutes, shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted. &nbsp;The undersigned acknowledges that no such attorney-in-fact, in serving in such capacity at the request of the undersigned, is hereby assuming, nor is the Company hereby assuming, any of the undersigned<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font>s responsibilities to comply with Section 16 of the Exchange Act.</p>
<p style="margin-top:7.333px; margin-bottom:7.333px; font-size:11pt" align="justify">This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Form 3, 4 or 5 reports with respect to the undersigned<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font>s holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.</p>
<p style="margin-top:7.333px; margin-bottom:7.333px; font-size:11pt" align="justify">IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of the May 4, 2026.</p>
<p style="margin:8px" align="justify"><br></p>
<p style="margin-top:8px; margin-bottom:8px; font-size:11pt" align="justify">Signature: <b style="font-size:12pt;font-weight:normal;">/s/ Frank Sluis</b></p>
<p style="margin-top:7.333px; margin-bottom:7.333px; font-size:11pt" align="justify">Print Name: Frank Sluis</p>
<p style="margin:7.333px" align="justify"><br><br></p>
</body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
