Take Hidekatsu 4

What Happened

• Take Hidekatsu, a director of Mizuho Financial Group (MFG), exercised/converted phantom stock units on July 1, 2026. The filing shows 6,604 units converted (acquired) and a cash settlement for 2,642 vested units. The cash-settled portion (per footnote) was JPY 7,814 per unit — about $48.18 each — totaling roughly $127,239.37. The filing also lists several other phantom-unit conversions reported as dispositions (2,350; 1,788; 2,466 units) with no cash proceeds reported.
• Note: the Form 4 contains an inconsistent USD figure ($336,166,416) tied to the 2,642-unit line. Footnote F2 clarifies the actual cash settlement was JPY 7,814/unit (~$48.18/unit), totaling about $127,239.37; the $336M number appears to be a reporting error.

Key Details

• Transaction date: July 1, 2026. Form filed July 6, 2026 (filed 5 days after the transaction).
• Reported items:
  • Exercise/conversion (M) — 6,604 units acquired at $0.00 (phantom units converted to a share-equivalent)
  • Disposition to issuer (D) — 2,642 units cashed out (footnote F2: JPY 7,814/unit → ~ $48.18/unit; total ≈ $127,239.37)
  • Exercise/conversion (M) — 2,350; 1,788; 2,466 units reported as disposed (no cash reported)
• Footnotes of note:
  • F1: Phantom stock units = contingent right to one share payable in cash or stock at issuer’s election.
  • F2: Confirms cash settlement for 2,642 units and gives yen→USD conversion used.
  • F4–F6: Vesting schedules; F6 indicates some units vested on July 1, 2026.
  • F3: Mentions ESOP holdings as of May 31, 2026 (number not provided in excerpt).
• Shares owned after the transactions are not stated in the provided excerpt.
• Timing: Filing date is July 6 for July 1 transactions (may be later than the typical two-business-day Form 4 deadline).

Context

• These were derivative/phantom-unit transactions, not open-market purchases or classic option exercises for immediate sale. Phantom units can be settled in cash or shares; here part was cashed and other units were converted/treated as dispositions per the filing.
• Cash settlements and conversions of phantom units are commonly part of executive compensation plans and do not necessarily signal a buy/sell opinion on the stock. The large reported USD total in the filing appears to be a data/reporting error; rely on the footnote conversion for the cash amount.