ACKMAN WILLIAM A 4

What Happened

• William A. Ackman (CEO) acquired a total of 4,897,171 shares of Pershing Square USA, Ltd. (PSUS) on April 30, 2026, paying a combined approximate total of $240,858,550.
• Transactions reported:
  • 3,500,000 shares at $50.00 each = $175,000,000
  • 500,000 shares at $42.00 each = $21,000,000
  • 841,000 shares at $50.00 each = $42,050,000
  • 21,200 shares at $50.00 each = $1,060,000
  • 34,971 shares at $50.00 each = $1,748,550
• These were purchases (insider acquisitions), which investors often view as a more informative (bullish) signal than routine sales; no motive is stated in the filing.

Key Details

• Transaction date: April 30, 2026; Form 4 filed May 1, 2026 (appears timely — within standard two business days).
• Prices: $50.00 and $42.00 per share (see breakdown above).
• Shares owned after transaction: Not specified in the provided filing details.
• Notable footnotes from the filing:
  • F1: The transactions were part of a combined set of offerings involving Pershing Square Inc. and PSUS.
  • F2: Some shares were acquired in the PSUS IPO.
  • F3: Some shares were acquired via open-market purchase.
  • F4: Some shares were acquired in the PSUS private placement.
  • F5–F6: Certain PSUS shares are held by an LLC wholly owned by the reporting person’s spouse and by family-member trusts.
  • F7: The reporting person may be deemed the beneficial owner of some shares for reporting purposes but disclaims beneficial ownership except to the extent of any pecuniary interest.

Context

• These are direct purchases (P code). The filing does not report option exercises, gifts, or withholding events.
• The mix of IPO, private placement and open-market purchases is noted in the footnotes; the filing does not explain motivation.
• Where family vehicles are involved (F5–F6) the reporting person may be treated as a deemed owner for reporting rules but may disclaim actual beneficial ownership (F7).