Horiuchi Yuko 4

What Happened Horiuchi Yuko (Group Finance) had 5,400 restricted stock units (RSUs) convert to common shares on April 27, 2026. Of those, 2,630 shares were withheld to cover tax withholding obligations at an effective reported price of $7.71/share (total withheld value $20,277), leaving a net increase of 2,770 shares. The RSU conversion is reported as an exercise/conversion of a derivative (code M) with no cash exercise price.

Key Details

• Transaction date: April 27, 2026; Form 4 filed April 28, 2026 (timely).
• Primary actions: 5,400 RSUs vested/converted to 5,400 shares (acquired); 2,630 shares withheld for taxes (disposed) at $7.71/share = $20,277.
• Net shares received: 5,400 − 2,630 = 2,770 additional shares.
• Shares owned after transaction: Not reported in this filing.
• Footnotes: RSUs vested April 1, 2026 and were settled in shares on April 27, 2026 (F1, F4); shares withheld to satisfy tax obligations (F2); USD price converted from JPY using JPY159.56 = US$1 (F3). Code meanings: M = exercise/conversion of derivative; F = tax withholding.
• Remarks: Group Finance; no expiration date for the RSUs (F5).

Context This was a compensation-related settlement of RSUs, not an open-market purchase or voluntary sale. Withholding shares to cover taxes is routine and reduces the net shares delivered to the insider; such awards are common executive compensation and do not by themselves signal a buy/sell sentiment.