Nomura (NMR) Head of Investment Management Exercises Options, Receives Award

What Happened

• Koike Hiroyasu, Head of Investment Management at Nomura Holdings (NMR), had restricted stock units/derivatives settle and an award posted. On April 24, 2026 he was granted 294.729 shares (recorded as an award). On April 27, 2026 he converted/exercised 10,000 derivative/RSU units into shares (no cash exercise price). To satisfy tax withholding related to the settlement, 4,744 shares were withheld/disposed. The filing shows the award valued at about $2,479 and the withheld shares valued at about $36,576 (USD amounts converted from JPY per filing footnotes).

Key Details

• Dates and reported prices:
  • 2026-04-24: Award/Grant — 294.729 shares at $8.41 per share (converted from JPY) = $2,479 (Acquired).
  • 2026-04-27: Exercise/Conversion (derivative) — 10,000 shares at $0.00 (Acquired; conversion of RSUs/options).
  • 2026-04-27: Tax withholding — 4,744 shares at $7.71 per share = $36,576 (Disposed to satisfy taxes).
• Net effect (per reported entries): received ~10,295 shares from award/conversion and had 4,744 shares withheld, a net increase of about 5,551 shares.
• Footnotes of note:
  • RSUs vested April 1, 2026 and were settled in shares on April 27, 2026 (F2, F5).
  • Share prices shown were converted from JPY using MUFG Bank spot rates on the transaction dates (F1, F4).
  • Shares were withheld to satisfy tax withholding obligations in connection with the RSU settlement (F3).
• Shares owned after the transactions are not provided in the data you supplied.
• Filing date: 2026-04-28 for transactions on 4/24 and 4/27 (appears filed promptly).

Context

• The conversion/exercise entries (code M) reflect the settlement/conversion of RSUs or similar derivatives into common shares (no cash exercise price reported). The disposal (code F) was a withholding of shares to pay taxes — a routine administrative action that does not represent an open-market sale. This filing shows net share accretion for the insider rather than an outright sale.