Hakim Ben 4

What Happened

• Hakim Ben, President of Pershing Square USA, Ltd. (PSUS), acquired a total of 350,000 common shares on April 30, 2026, paying $50.00 per share for a total cash outlay of $17,500,000. The filing reports two purchase entries: 100,000 shares ($5.0M) and 250,000 shares ($12.5M). These were purchases (a net inflow of shares), which investors often view as a more informative, potentially bullish insider action than sales.

Key Details

• Transaction date: April 30, 2026; Filing date: May 1, 2026.
• Trades: 100,000 shares @ $50.00 ($5,000,000) and 250,000 shares @ $50.00 ($12,500,000); total 350,000 shares for $17,500,000.
• Nature of acquisition: Purchases labeled "P" in the filing; footnotes indicate the shares were acquired in the company IPO and a concurrent private placement.
• Footnotes from the Form 4:
  • F1: PS and PSUS completed combined transactions including IPOs and concurrent private placements.
  • F2: 100,000 shares reflect acquisition in the PSUS IPO.
  • F3: 250,000 shares reflect acquisition in the PSUS private placement.
• Shares owned after the transaction: Not specified in the provided excerpt of the filing.
• Filing timeliness: Reported the next calendar day (filed May 1 for Apr 30 transactions); no late filing flag shown in the provided data.

Context

• These purchases were part of the issuer's initial public offering and a concurrent private placement, not ordinary open-market buys—meaning the insider participated in the offering at the IPO/private placement price.
• No options exercises, grants, or gifts are reported here—just cash purchases. As always, purchases signal insider acquisition but do not prove future company performance.