Chang Tzonz-Sheng 4

What Happened

• Chang Tzonz-Sheng, Senior Vice President at Taiwan Semiconductor Manufacturing Co. (TSM), purchased 56 common shares on 2026-05-08 in an open-market/private purchase reported on Form 4. The reported price was $71.82 per share (translated from NT$2,257.1777 at NT$31.429 = US$1), for a total value of approximately $4,022. This is a purchase (insider acquisition), which is generally more informative to investors than routine sales.

Key Details

• Transaction date: 2026-05-08; Form 4 filed: 2026-05-11 (within the SEC two-business-day reporting window).
• Price: $71.82 per share; Total value: ~$4,022.
• Shares purchased: 56 common shares.
• Shares owned after transaction: Not reported in the provided filing details.
• Footnotes from the filing:
  • F1/F3: Shares were purchased by the ESPP administrator on the filer’s behalf and are held under the issuer’s Employee Stock Purchase Plan per predetermined terms.
  • F2: Price shown is a USD conversion from NT$2,257.1777 using NT$31.429 = US$1.
  • F4: Some shares were purchased by a trust with cash from the issuer’s Long-Term Incentive (LTI) Bonus Plan, over which the filer has investment control.

Context

• This was a small ESPP purchase (about $4k). ESPP purchases are typically automatic or predetermined under plan rules and can reflect routine participation rather than a discretionary market-timing decision. The filing appears timely, and the notes clarify the purchase mechanisms (ESPP and an LTI-funded trust) rather than an options exercise or gift.