Yonezawa Takefumi 4

What Happened

• Yonezawa Takefumi, Head of Research & Consulting Unit and Group Chief Sustainability Officer, was granted two awards of phantom stock units on July 24, 2026: 3,858 units and 570 units (total 4,428). Both were reported as derivative awards with $0 purchase price (no cash paid).
• These are phantom stock units (contingent rights to receive one share or cash at settlement) rather than open-market purchases or sales, so they do not represent an immediate buy or sell of common stock.

Key Details

• Transaction date: July 24, 2026; Form 4 filed July 28, 2026 (filing appears timely).
• Quantity: 3,858 units (grant) + 570 units (grant) = 4,428 phantom stock units; price reported $0.00.
• Shares/units after transaction: filing adds 4,428 phantom units; an ESOP balance is referenced in the filing (see footnote F1 for ESOP account as of 6/30/2026).
• Notable footnotes:
  • F2: Each phantom unit is a contingent right to one share, settled in cash or stock at the issuer’s election.
  • F3: One set of phantom units vests in three equal installments beginning July 1, 2027.
  • F4: The other set is fully vested on grant but will settle upon the reporting person’s retirement.
• Transaction type: Award/Grant (code A) — not a purchase or sale.

Context

• Phantom stock units are deferred/contingent compensation: they typically convert to cash or shares later and do not immediately change public float or signal an open-market purchase.
• Because one grant vests over time and the other settles on retirement, these awards are likely part of compensation/retention arrangements rather than indicative of near-term trading intent.