BURNS URSULA M 4

What Happened
Ursula M. Burns, a director of Taiwan Semiconductor Manufacturing Co. (TSM), acquired 1,000 American Depositary Shares (ADS) in an open-market purchase on 2026-03-31 at $322.05 per ADS, for a total of $322,050. This purchase is reported as a buy (code P) and represents a direct purchase rather than a sale or option exercise.

Key Details

• Transaction date and price: 2026-03-31, 1,000 ADS @ $322.05 each; total $322,050.
• ADS to common share ratio (F1): Each ADS represents 5 common shares — 1,000 ADS = 5,000 common shares underlying this transaction.
• Ownership/authority (F2): The shares are owned by the Malcolm Bean Irrevocable Trust; Burns serves as investment advisor and exercises investment authority over those shares.
• Filing timing: Report filed 2026-04-01 (one day after the trade), which is timely under typical Form 4 requirements.
• Shares owned after transaction: Not specified in the provided report excerpt.

Context
Purchases by directors can be interpreted as a positive signal since they increase insider exposure, but they should be considered alongside other information (holding size, past trades, and corporate news). This filing reflects a straightforward open-market purchase of ADS held in a trust for which Burns has investment authority — not necessarily direct personal ownership.