Yasuda Masamichi 4

What Happened
Yasuda Masamichi (insider; role not specified in the filing) exercised stock options on June 9, 2026 to acquire 4,800 common shares (represented by ADSs) of PayPay Corp. The exercise price per share was reported as $8.11 (JPY 1,300 converted at JPY160.26 = $1.00), for a total cash outlay of $38,928. The filing also reports a disposition of 24 shares at $0.00 in connection with the transaction.

Key Details

• Transaction date: 2026-06-09. Filing date: 2026-06-09 (no late filing indicated).
• Main transaction: Exercise of options (transaction code M) — 4,800 shares acquired at $8.11 each; total $38,928.
• Additional reported disposition: 24 shares disposed at $0.00 (reported as a derivative disposition). The filing does not explain the $0.00 disposal. Such small disposals in option exercises often reflect withholding or net settlement mechanics, but the filing itself does not state the reason.
• ADS treatment: The common shares are represented by American Depositary Shares (ADS); shares received on exercise convert to ADS on a one-for-one basis (F1).
• Exercise price details: Exercise price is JPY 1,300 per common share; dollar amounts shown use a conversion at JPY160.2600 = US$1.00 (Fed rate) — exercise price is legally in JPY regardless of USD conversion (F2).
• Options structure: Awards reflected are stock options with each option exercisable for 200 common shares (F4). The 4,800 shares correspond to 24 options exercised (4,800 ÷ 200). Separately, 47 options remain subject to vesting in two equal annual installments on April 1, 2027 and April 1, 2028 (F3).
• Shares owned after the transaction: Not specified in the provided excerpt.

Context

• This was an exercise of stock options (a conversion of a derivative into common shares/ADS). The filing does not indicate an immediate sale of the newly acquired shares.
• Small share disposals reported at $0.00 are common in option exercises (e.g., to cover taxes/withholding or for rounding) but the document does not state the purpose.
• Facts only — the filing documents the mechanics of exercising options and resulting share movement; it does not reveal the insider’s motive.