Tien Bor-Zen 4

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.