Nakayama Ichiro 4

What Happened
Ichiro Nakayama — President, Representative Director and CEO of PayPay Corp (PAYP) — exercised stock options on June 9, 2026 to acquire 2,600 common shares (represented by 2,600 American Depositary Shares). The exercise price was the U.S. dollar equivalent of JPY 1,300 per share (reported as $8.11), for total cash paid of $21,086. The filing also shows 13 derivative instruments reported as disposed at $0.00, reflecting the conversion/exercise of those options.

Key Details

• Transaction date: 2026-06-09.
• Acquired: 2,600 shares at $8.11 per share; total cash paid $21,086.
• Derivative disposed: 13 (reported at $0.00) — these represent the options converted/exercised.
• Exercise price basis: JPY 1,300 per share; converted using JPY 160.2600 = US$1.00 (Fed rate as of June 5, 2026) per the filing.
• ADS note: Common shares received upon exercise are represented by ADSs on a 1-for-1 basis.
• Shares owned after transaction: not specified in the Form 4.
• Filing timeliness: Reported on June 9, 2026 (same day as the transaction date in the filing).

Context

• This was an option exercise (derivative conversion) resulting in an acquisition of shares rather than an open-market purchase or sale. The filing indicates 13 options were converted; per the filing each option is exercisable for 200 common shares (13 × 200 = 2,600).
• The derivative "disposed" line at $0.00 reflects conversion of the options themselves and does not indicate cash proceeds from a sale of the underlying shares.
• The filing contains no indication that the acquired ADSs were immediately sold (i.e., not reported as a cashless exercise followed by a sale in this Form 4).