Pershing Square USA, Ltd.: CIO Israel Ryan bought 256,613 shares

What happened

• The filing reports that Israel Ryan, chief investment officer, purchased a total of 256,613 common shares in open-market or private purchases: 78,138 shares on Oct 2, 2026 at a weighted average price of $37.21 for $2,907,452; 120,816 shares on Oct 5, 2026 at a weighted average price of $37.45 for $4,524,003; and 57,659 shares on Oct 6, 2026 at a weighted average price of $37.87 for $2,183,760. Total reported purchase value is $9,615,215.

Key details

• Transaction dates and prices:
  • Oct 2, 2026 — 78,138 shares at $37.21 (weighted average); F1 notes prices in the range $37.035 to $37.35 and F2 notes the price shown is a weighted average and that further detail is available on request.
  • Oct 5, 2026 — 120,816 shares at $37.45 (weighted average); F3 notes prices in the range $37.115 to $37.70.
  • Oct 6, 2026 — 57,659 shares at $37.87 (weighted average); F4 notes prices in the range $37.50 to $38.15.
• Shares owned after the transaction: not specified in the provided filing information.
• Footnotes: F2 indicates the reported prices are weighted averages and the reporting person can provide details about the number of shares bought at each separate price within the ranges.
• Filing timeliness: not indicated in the provided filing.

Why it may matter

• These entries are purchases (transaction code P) reported on a Form 4. The filing does not show why the insider traded or why the company acted.