Ascendis Pharma A/S (ASND) — T. Rowe Price reports 10.5% ownership

Rhea-AI Filing Summary

Ascendis Pharma A/S - ADR amended a Schedule 13G/A to report that T. Rowe Price Investment Management, Inc. beneficially owns 6,506,219 shares of ADRs, representing 10.5% of the class. The filing lists 6,193,667 shares with sole voting power and 6,501,324 shares with sole dispositive power. The amendment is signed by Ellen York on 05/07/2026.

Insights

Institutional Ownership Analyst

Large passive holding disclosed; voting and dispositive powers are nearly aligned.

The filing shows T. Rowe Price holds 6,506,219 ADRs or 10.5% of the class, with 6,193,667 shares listed as sole voting power and 6,501,324 as sole dispositive power. This indicates concentrated beneficial exposure by a single investment manager.

Because this is an ownership disclosure amendment, the practical implications depend on whether these positions are active engagement stakes or part of pooled/passive funds; subsequent filings would clarify any voting intentions.

Corporate Governance Specialist

Disclosure clarifies control metrics relevant to shareholder votes and disclosure thresholds.

The Schedule 13G/A marks a >10% beneficial ownership threshold, which can affect disclosure obligations and notice of large-holder status. The filing records both voting and dispositive powers separately, useful for governance analysis.

Watch for further amendments or Form 13D if the holder shifts to activist intent; timing and intent are not stated in this amendment.

Key Figures

Beneficially owned: 6,506,219 shares Percent of class: 10.5% Sole voting power: 6,193,667 shares +2 more

5 metrics

Beneficially owned 6,506,219 shares Amount beneficially owned reported on Schedule 13G/A

Percent of class 10.5% Percent of ADR class beneficially owned

Sole voting power 6,193,667 shares Shares as to which filer has sole power to vote

Sole dispositive power 6,501,324 shares Shares as to which filer has sole power to dispose

Filing signature date 05/07/2026 Date signed by Ellen York, Vice President

Key Terms

Schedule 13G/A, beneficially owned, sole dispositive power, sole voting power

4 terms

Schedule 13G/A regulatory

"Amendment No. 1) ASCENDIS PHARMA A/S - ADR"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficially owned regulatory

"Amount beneficially owned: 6506219"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 6501324"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

sole voting power regulatory

"Sole power to vote or to direct the vote: 6193667"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

ASCENDIS PHARMA A/S - ADR

(Name of Issuer)

ADR

(Title of Class of Securities)

04351P101

(CUSIP Number)

04/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 04351P101

1

Names of Reporting Persons

T. Rowe Price Investment Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 6,193,667.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 6,501,324.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,506,219.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.5 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ASCENDIS PHARMA A/S - ADR
(b)	Address of issuer's principal executive offices: TUBORG BOULEVARD 12, HELLERUP, G7, DK-2900
Item 2.
(a)	Name of person filing: T. Rowe Price Investment Management, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: ADR
(e)	CUSIP No.: 04351P101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 6506219
(b)	Percent of class: 10.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 6193667
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 6501324
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Investment Management, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	05/07/2026

FAQ

What does the Schedule 13G/A filed for ASND report?

It reports that T. Rowe Price beneficially owns 6,506,219 ADRs (10.5%). The filing also lists voting and dispositive power figures and is signed on 05/07/2026, confirming the ownership disclosure.

How many shares does T. Rowe Price have voting power over in ASND?

T. Rowe Price has sole voting power over 6,193,667 shares. The Schedule 13G/A separates voting power from dispositive power as part of the ownership breakdown.

What percent of ASND does the filing show T. Rowe Price owns?

The filing shows T. Rowe Price beneficially owns 10.5% of the ADR class. That percentage is reported alongside the absolute share count of 6,506,219 shares.

Does the Schedule 13G/A indicate activist intent for ASND?

No; the amendment does not state intent. It reports ownership levels and power metrics but does not indicate any activist plans or intentions to influence management or solicit proxies.

Who signed the amendment and when was it signed?

The amendment is signed by Ellen York, Vice President, and dated 05/07/2026. The signature formalizes the corrected or updated ownership disclosure.