Tien Bor-Zen 4
4 · TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
TSMC VP Tien Bor-Zen Buys 1,000 ADS Shares
What Happened
Tien Bor-Zen, Vice President of Taiwan Semiconductor Manufacturing Co. (TSM), acquired 1,000 American Depositary Shares (ADS) on 2026-03-22. The filing shows a purchase price of $55.93 per ADS, for a total cash outlay of $55,930. The price was translated from NT$1,795 at an exchange rate of NT$32.092 to US$1. Each ADS represents five common shares, so 1,000 ADS is equivalent to 5,000 common shares.
Key Details
- Transaction date: 2026-03-22; Form 4 filed: 2026-03-24 (filed within the typical 2-business-day window).
- Transaction type: P = Purchase (open market or private purchase).
- Price: $55.93 per ADS (NT$1,795 converted at NT$32.092/USD).
- Quantity: 1,000 ADS (equivalent to 5,000 common shares).
- Total value: $55,930.
- Shares owned after transaction: not stated in the provided excerpt of the filing.
- Relevant footnotes in the filing: F1 (price translation), F2 (1 ADS = 5 common shares), F3 (notes that some common shares are held under the issuer’s Employee Stock Purchase Plan).
- Additional filing footnotes (F4–F5) describe equity-linked notes issued by Goldman Sachs that reference TSMC ADS and could, under certain conditions, settle into ADS (up to 71 ADS at a strike of $278.8973) — these notes are separate from the reported purchase.
Context
This is a straightforward insider purchase (an acquisition), which some investors view as a positive signal but does not by itself indicate motivation. ADS transactions are simply a U.S.-traded representation of TSMC common shares listed in Taiwan. The filing appears timely; no late-filing flag is indicated in the provided information.
Insider Transaction Report
- Purchase
Common Shares (2330.TW)
[F1]2026-03-22$55.93/sh+1,000$55,930→ 9,051 total
- 70
American Depositary Shares (TSM)
[F2] - 48(indirect: By Trust)
Common Shares (2330.TW)
[F3] - 44(indirect: By Immediate Family Member)
Common Shares (2330.TW)
- 20,000
Equity Linked Notes
[F4][F5][F2]Exp: 2026-06-03→ American Depositary Shares (TSM) (71 underlying)
Footnotes (5)
- [F1]The price was translated from New Taiwan dollars, NT$1,795, at the rate of NT$32.092 to US$1.
- [F2]Each American Depositary Share represents five (5) Common Shares.
- [F3]Common Shares purchased and held under the issuer's Employee Stock Purchase Plan ("ESPP").
- [F4]The Equity Linked Notes are issued by Goldman Sachs International that reference a basket of equity securities that includes the issuer's American Depositary Shares. The principal amount of the notes is US$20,000. The notes are exercisable and expire on June 3, 2026 (the "Exercisable Date"). Under the terms of the notes, if the notes are not redeemed early and the closing price of the worst-performing basket component is below its strike price on the Exercisable Date, the notes may be settled by delivery of shares or American Depositary Shares of that worst-performing basket component plus cash in lieu of any fractional share. [Continued in footnote 5]
- [F5][Continued from footnote 4] The strike price for each basket component equals 72.30% of its initial reference level. If the issuer's American Depositary Shares are determined to be the worst-performing basket component, settlement may result in delivery of up to 71 American Depositary Shares of the issuer at a strike price of US$278.8973 per American Depositary Share. In addition, the notes may be redeemed for cash, (i) if, during the observation period prior to the Exercisable Date, the closing price of each basket component has reached its initial reference level at least once, or (ii) if the notes are not redeemed early and the closing price of the worst-performing basket component is at or above its strike price on the Exercisable Date.