Palomaki Daniel Scott 4

What Happened

• Daniel Scott Palomaki, Global Financial Controller at HSBC Holdings plc, was granted 88 dividend-equivalent rights (DERs) on 2026-05-22. The filing lists the transaction as an award/acquisition (code A); no per-share price or cash value is reported for these DERs (N/A).
• This was a compensation award (not a market purchase or sale) tied to an earlier conditional share award granted March 9, 2026.

Key Details

• Transaction date: 2026-05-22; Form 4 filed: 2026-05-26 (timely — the second business-day deadline extended because May 25 was a U.S. holiday).
• Instrument: 88 dividend-equivalent rights (DERs); price/value: N/A (derivative).
• Shares owned after transaction: not disclosed in this filing.
• Footnote: DERs accrue as dividends are paid on HSBC ordinary shares, represent the economic equivalent of one ordinary share each, and will be settled (cash or shares at the board’s election) as soon as practicable after the underlying conditional award vests.

Context

• DERs are a derivative compensation feature — they give the holder the economic equivalent of dividends on underlying conditional awards and do not represent immediate share ownership or an open-market purchase/sale. Such awards are routine for executive compensation and do not by themselves indicate the insider is buying or selling stock.