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        <ns2:filerInfo>
            <ns2:filer>
                <ns2:filerCredentials>
                    <ns2:cik>0001860218</ns2:cik>
                    <ns2:ccc>XXXXXXXX</ns2:ccc>
                </ns2:filerCredentials>
            </ns2:filer>
            <ns2:liveTestFlag>LIVE</ns2:liveTestFlag>



        </ns2:filerInfo>
    </ns2:headerData>
    <ns2:formData>
        <ns2:issuerInfo>
            <ns2:issuerCik>0001858985</ns2:issuerCik>
            <ns2:issuerName>ON HOLDING AG</ns2:issuerName>
            <ns2:secFileNumber>001-40795</ns2:secFileNumber>
            <ns2:issuerAddress>
                <com:street1>Forrlibuckstrasse 190</com:street1>
                <com:city>Zurich</com:city>
                <com:stateOrCountry>V8</com:stateOrCountry>
                <com:zipCode>8005</com:zipCode>
            </ns2:issuerAddress>
            <ns2:issuerContactPhone>41-44-225-15-55</ns2:issuerContactPhone>
            <ns2:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Martin Hoffman</ns2:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <ns2:relationshipsToIssuer>
                <ns2:relationshipToIssuer>Officer</ns2:relationshipToIssuer>
            </ns2:relationshipsToIssuer>
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        <ns2:securitiesInformation>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:brokerOrMarketmakerDetails>
                <ns2:name>Goldman Sachs &amp; Co. LLC</ns2:name>
                <ns2:address>
                    <com:street1>200 West Street</com:street1>
                    <com:city>New York</com:city>
                    <com:stateOrCountry>NY</com:stateOrCountry>
                    <com:zipCode>10282</com:zipCode>
                </ns2:address>
            </ns2:brokerOrMarketmakerDetails>
            <ns2:noOfUnitsSold>306405</ns2:noOfUnitsSold>
            <ns2:aggregateMarketValue>9942842.25</ns2:aggregateMarketValue>
            <ns2:noOfUnitsOutstanding>281976387</ns2:noOfUnitsOutstanding>
            <ns2:approxSaleDate>04/28/2023</ns2:approxSaleDate>
            <ns2:securitiesExchangeName>NYSE</ns2:securitiesExchangeName>
        </ns2:securitiesInformation>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:acquiredDate>12/21/2017</ns2:acquiredDate>
            <ns2:natureOfAcquisitionTransaction>Equity Compensation -Restricted Stock Units</ns2:natureOfAcquisitionTransaction>
            <ns2:nameOfPersonfromWhomAcquired>Issuer</ns2:nameOfPersonfromWhomAcquired>
            <ns2:isGiftTransaction>N</ns2:isGiftTransaction>
            <ns2:amountOfSecuritiesAcquired>306405</ns2:amountOfSecuritiesAcquired>
            <ns2:paymentDate>12/21/2017</ns2:paymentDate>
            <ns2:natureOfPayment>For services rendered</ns2:natureOfPayment>
        </ns2:securitiesToBeSold>
        <ns2:nothingToReportFlagOnSecuritiesSoldInPast3Months>N</ns2:nothingToReportFlagOnSecuritiesSoldInPast3Months>
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            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>03/22/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>6732</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>188952.43</ns2:grossProceeds>
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            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>03/23/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>19812</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>597520.01</ns2:grossProceeds>
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            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/12/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>921</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>27396.8</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/24/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1585</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>52406.6</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/04/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1500</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>49619.85</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>03/29/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>921</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>28423.44</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/03/2023</ns2:saleDate>
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            <ns2:grossProceeds>28881.82</ns2:grossProceeds>
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            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/03/2023</ns2:saleDate>
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            <ns2:grossProceeds>19257.72</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>03/24/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>921</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>28438.45</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/12/2023</ns2:saleDate>
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            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/05/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>300</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>8843.01</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
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                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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                    <com:street1>Forrlibuckstrasse 190</com:street1>
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                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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            <ns2:grossProceeds>56075.12</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>03/24/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1121</ns2:amountOfSecuritiesSold>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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                    <com:street1>Forrlibuckstrasse 190</com:street1>
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                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>03/22/2023</ns2:saleDate>
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            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>02/02/2023</ns2:saleDate>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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                    <com:city>Zurich</com:city>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/19/2023</ns2:saleDate>
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            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/03/2023</ns2:saleDate>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/20/2023</ns2:saleDate>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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                    <com:street1>Forrlibuckstrasse 190</com:street1>
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                    <com:stateOrCountry>V8</com:stateOrCountry>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>03/23/2023</ns2:saleDate>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>03/24/2023</ns2:saleDate>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/17/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1843</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>55831.1</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
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                <ns2:address>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/20/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1910</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>63088.06</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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            <ns2:amountOfSecuritiesSold>21212</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>584059.69</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/24/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>18190</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>607382.29</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/04/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>48500</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>1578301.55</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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            <ns2:amountOfSecuritiesSold>1843</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>60520.25</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/12/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1843</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>54182.54</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/26/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>921</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>30672.25</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
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                <ns2:address>
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                    <com:zipCode>8005</com:zipCode>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>03/24/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>45001</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>1411987.38</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/26/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>921</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>30880.39</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/18/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>300</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>9600.9</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>03/29/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>921</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>28523.19</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/14/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>200</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>6417</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Martin Hoffmann</ns2:name>
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                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>02/01/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>2500</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>60077.5</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:remarks>The sales of shares set forth herein are made in connection with a selling plan dated 09/05/2022 that is intended to comply with Rule 10b5-1(c). The representation below regarding the seller's knowledge of material information was true as of the date the selling plan was entered into.</ns2:remarks>
        <ns2:noticeSignature>
            <ns2:noticeDate>04/28/2023</ns2:noticeDate>
            <ns2:planAdoptionDates>
                <ns2:planAdoptionDate>09/05/2022</ns2:planAdoptionDate>
            </ns2:planAdoptionDates>
            <ns2:signature>Goldman Sachs &amp; Co. LLC on behalf of Martin Hoffman</ns2:signature>
        </ns2:noticeSignature>
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</ns2:edgarSubmission>
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144
0001860218
XXXXXXXX
LIVE
0001858985
ON HOLDING AG
001-40795
Forrlibuckstrasse 190
Zurich
V8
8005
41-44-225-15-55
Martin Hoffman
Officer
Class A Ordinary Shares
Goldman Sachs & Co. LLC
200 West Street
New York
NY
10282
306405
9942842.25
281976387
04/28/2023
NYSE
Class A Ordinary Shares
12/21/2017
Equity Compensation -Restricted Stock Units
Issuer
N
306405
12/21/2017
For services rendered
N
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
03/22/2023
6732
188952.43
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
03/23/2023
19812
597520.01
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/12/2023
921
27396.8
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/24/2023
1585
52406.6
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/04/2023
1500
49619.85
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
03/29/2023
921
28423.44
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/03/2023
921
28881.82
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/03/2023
600
19257.72
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
03/24/2023
921
28438.45
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/12/2023
921
27649.16
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/05/2023
300
8843.01
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/03/2023
1543
47038.97
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
03/29/2023
1843
56075.12
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
03/24/2023
1121
34757.05
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
03/22/2023
1200
34929.96
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/17/2023
921
28028.15
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
02/02/2023
3976
95507.5
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/21/2023
48900
1624174.38
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/17/2023
921
28090.87
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/19/2023
2000
64575
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/03/2023
921
28585.54
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/21/2023
1100
35840.97
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
03/21/2023
28788
779671.16
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/20/2023
16215
527255.05
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
03/23/2023
1999
62905.13
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
03/24/2023
2243
68441.78
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/17/2023
1843
55831.1
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/20/2023
1910
63088.06
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
03/21/2023
21212
584059.69
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/24/2023
18190
607382.29
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/04/2023
48500
1578301.55
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/26/2023
1843
60520.25
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/12/2023
1843
54182.54
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/26/2023
921
30672.25
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
03/24/2023
45001
1411987.38
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/26/2023
921
30880.39
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/18/2023
300
9600.9
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
03/29/2023
921
28523.19
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/14/2023
200
6417
Martin Hoffmann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
02/01/2023
2500
60077.5
The sales of shares set forth herein are made in connection with a selling plan dated 09/05/2022 that is intended to comply with Rule 10b5-1(c). The representation below regarding the seller's knowledge of material information was true as of the date the selling plan was entered into.
04/28/2023
09/05/2022
Goldman Sachs & Co. LLC on behalf of Martin Hoffman