[Form 4] Acushnet Holdings Corp. Insider Trading Activity

Rhea-AI Filing Summary

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is offering Airbag Autocallable Contingent Yield Notes with Memory Coupon Feature linked to the common stock of Microsoft Corporation (MSFT).

• Issue structure: $10,000 minimum denomination; one-year stated term (settlement 14-Jul-2025, maturity 14-Jul-2026) unless automatically called as early as the first monthly valuation date (11-Aug-2025).
• Contingent coupon: 14.30% p.a. (≈ 1.1917 % monthly). Paid only if MSFT’s closing price on the relevant valuation date ≥ coupon barrier (90 % of initial price = $453.16). Memory feature accrues unpaid coupons for future payment when the barrier is subsequently met.
• Automatic call: Notes are redeemed at par plus applicable coupons (including memory coupons) when MSFT closes ≥ initial price ($503.51) on any monthly valuation date.
• Principal at risk: If not called and final price ≥ conversion price ($453.16) investors receive par plus coupon(s). If final price < conversion price, investors receive share delivery amount (22.06726 MSFT shares per note, subject to adjustment), exposing them to the full market downside below the 90 % threshold; value can be substantially below par and potentially zero.
• Credit & liquidity: Unsecured, unsubordinated obligations of the issuer; payments depend on the creditworthiness of Citigroup Global Markets Holdings Inc. and Citigroup Inc. Notes are not listed; secondary market, if any, will be made solely by CGMI on a best-efforts basis.
• Pricing & fees: Issue price 100 % of par. Estimated value on trade date ≈ $9,865 per $10,000 note (1.35 % below issue price) reflecting structuring and hedging costs. Underwriting discount: $10 per note.
• Key dates: Strike 09-Jul-2025; trade 10-Jul-2025; monthly valuation/coupon schedule provided; final valuation 10-Jul-2026.
• Risk highlights: potential loss of some or all principal; non-payment of coupons if barrier breached; no participation in MSFT upside; high volatility sensitivity; credit risk; complex tax treatment; no FDIC insurance.

Target investors are those who (1) seek enhanced conditional income, (2) are comfortable with MSFT equity risk, (3) can tolerate principal loss and illiquidity, and (4) understand structured products.

Insights

Structured-Product Analyst

TL;DR: High 14.3 % conditional yield but full downside below 90 % strike; suitable only for risk-tolerant investors.

The note pays an above-market coupon contingent on MSFT staying ≥ $453.16 monthly. Automatic call at ≥ $503.51 can shorten tenor, capping returns. Memory feature slightly improves income continuity. However, if MSFT falls > 10 % at maturity, holders receive 22.06726 shares, exposing them to amplified losses below the conversion price. Investors forgo dividends and upside beyond coupons. Estimated fair value (98.65 % of par) shows a 1.35 % initial value gap plus illiquidity costs. Credit exposure to Citigroup and lack of listing widen secondary-market discounts. Overall neutral impact for Citigroup (routine issuance) but risk-heavy for buyers.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Yoon Yoon Soo (Gene)

(Last) (First) (Middle)

MISTO HOLDINGS CORP.

SEONGBUK-GU BOMUN-RO 35

(Street)

SEOUL M5 02873

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Acushnet Holdings Corp. [ GOLF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/10/2025		D		953,406(1)	D	$65.5633	29,523,653	I	See Footnote(2)
Common Stock								45,118.08	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares sold to Acushnet Holdings Corp. pursuant to the Stock Repurchase Agreement dated December 17, 2024.

2. These shares are held directly by Magnus Holdings Co., Ltd., a subsidiary of Misto Holdings Corp. The reporting person is the Chairman of Misto Holdings Corp. and may be deemed to be the beneficial owner and have voting and dispositive power with respect to the shares held by Magnus Holdings Co., Ltd. The reporting person disclaims beneficial ownership over the shares of Issuer common stock held by Magnus Holdings Co., Ltd., except to the extent of his pecuniary interest therein.

	/s/ Chad M. Van Ess, as attorney-in-fact	07/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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