Iiyama Toshiyasu 4

What Happened
Iiyama Toshiyasu, Executive Officer, Deputy President, Chief of Staff and Head of China Committee at Nomura Holdings (NMR), was granted a total of 199,631 derivative notional stock units (NSUs) on 2026-05-25. The filing lists three grant line items: 66,544 NSUs, 66,544 NSUs, and 66,543 NSUs, each reported with an acquisition price of $0 (transaction code A — award/grant). These are cash‑settled derivative awards, not open‑market purchases or sales.

Key Details

• Transaction date: 2026-05-25; Form 4 filed: 2026-05-27 (timely filing).
• Grant amounts: 66,544 + 66,544 + 66,543 = 199,631 NSUs; acquisition price reported $0 for each grant.
• Instrument: Notional Stock Units (NSUs) — each NSU represents the right to receive cash equal to the value of one share of common stock (Footnote F1).
• Expiration: No separate expiration date noted (Footnote F2).
• Shares owned after transaction: Not specified in the filing.
• Transaction code: A (award/grant); this is compensation rather than a market purchase.

Context
Notional stock units are a form of cash‑settled equity compensation: they do not immediately transfer company shares but give the holder a future cash payment equal to the value of equivalent shares (often subject to vesting or plan terms). Such awards are typically part of executive compensation and should be viewed as compensation events rather than direct insider bets on the stock.