HY Form 4: Director David B. Williams awarded 963 Class A shares

Q: What transaction did David B. Williams report on Form 4 for HY?

The filing reports an acquisition of 963 Class A common shares on 10/01/2025 as "Required Shares" under the Non-Employee Directors' Equity Compensation Plan, reported at a $0 price.

Q: Does the Form 4 show any sales or dispositions by the reporting person?

No. The Form 4 lists an acquisition (A) of 963 Class A shares and does not report any dispositions.

Q: Are there other holdings disclosed for the reporting person in the filing?

Yes. The filing discloses numerous indirect holdings attributed through spouse, trusts, and partnerships, including large Class A equivalent amounts associated with Class B interests in Table II.

Q: Did the reporting person claim beneficial ownership of all disclosed shares?

No. The filing explicitly states the reporting person disclaims beneficial ownership of certain shares listed.

Q: Who signed the Form 4 and when?

The Form 4 was signed by Suzanne S. Taylor, attorney-in-fact on 10/02/2025 .

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

David B. Williams, a director of Hyster-Yale, Inc. (HY), acquired 963 Class A common shares on 10/01/2025. The shares were issued as "Required Shares" under the companys Non-Employee Directors Equity Compensation Plan and were reported at a $0 price, reflecting a grant rather than a purchase. The filing lists extensive indirect holdings attributed to the reporting person through spouse, trusts, and partnership interests, including large blocks of Class A shares underlying Class B holdings reported in Table II. The reporting person disclaims beneficial ownership of several indirectly held positions. The Form 4 was signed by an attorney-in-fact on 10/02/2025.

Positive

Director received equity compensation (963 Class A shares) under the Non-Employee Directors' Equity Compensation Plan, aligning director incentives with shareholders.
Comprehensive disclosure of indirect holdings via spouse, trusts, and partnerships provides transparency about family-linked ownership positions.

Negative

None.

Insights

TL;DR: Director received 963 director compensation shares; significant indirect holdings remain disclosed through family trusts and partnerships.

The reported 963 shares are a routine equity compensation grant to a non-employee director, recorded at $0 which is consistent with required-share awards under a director plan. Table II maps many Class B interests converted to Class A equivalent holdings attributed indirectly to the reporting person via spouse, children and multiple trusts/partnerships, which indicates concentrated family-linked ownership but the filer expressly disclaims direct beneficial ownership for many positions. This filing is primarily a disclosure of internal ownership structure rather than a market-moving transaction.

TL;DR: Governance disclosure shows standard director equity grant and comprehensive family/trust ownership reporting; no leadership change or disposition.

The award of 963 "Required Shares" aligns with non-employee director compensation practices and the $0 price denotes an in-kind issuance, not a cash purchase. The detailed indirect ownership entries and disclaimers appropriately disclose potential family influence without asserting direct control. No sales, exercises, or derivative expirations are reported that would alter control or indicate insider liquidity events.

10/02/2025 - 11:51 AM

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).

1. Name and Address of Reporting Person^*

WILLIAMS DAVID B

(Last)

(First)

(Middle)

5875 LANDERBROOK DRIVE

(Street)

MAYFIELD HEIGHTS

44124

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
HYSTER-YALE, INC. [ HY ]

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

X	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of a Group

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	10/01/2025		A⁽¹⁾		963	A	$0	22,374	I	Held in trust fbo Reporting Person
Class A Common Stock								153,313	I	Spouse's proportionate partnership interest shares held by AMR Associates LP⁽²⁾
Class A Common Stock								983	I	Spouse is Trustee of HRB 2020 GST trust fbo Clara Butler⁽²⁾
Class A Common Stock								2,647	I	Spouse serves as Trustee of GSTs for the benefit of Clara R. Williams⁽²⁾
Class A Common Stock								182,185	I	Held by trust for the benefit of Reporting Person's Spouse⁽²⁾
Class A Common Stock								983	I	Spouse is Trustee of HRB 2020 GST trust fbo Griffin Butler⁽²⁾
Class A Common Stock								1,967	I	Child's proportionate partnership interest shares held by AMR Associates LP⁽²⁾
Class A Common Stock								7,211	I	Reporting Person is Trustee of a Trust for the benefit of Reporting Person's child⁽²⁾
Class A Common Stock								983	I	Serves as Trustee of CRW 2020 GST trust fbo Helen Williams⁽²⁾
Class A Common Stock								1,967	I	Child's proportionate partnership interest shares held by AMR Associates LP⁽²⁾
Class A Common Stock								9,961	I	Reporting Person is Trustee of a Trust for the benefit of Reporting Person's child⁽²⁾
Class A Common Stock								983	I	Serves as Trustee of CRW 2020 GST trust fbo Margo Williams⁽²⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	147,481		147,481	I	Spouse's proportionate partnership interest shares held by AMR Associates LP⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	62,034		62,034	I	Spouse is Trustee of HRB 2020 GST trust fbo Clara Butler⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	41,679		41,679	I	Spouse serves as Trustee of GSTs for the benefit of Clara R. Williams⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	52,321		52,321	I	Spouse's proportionate interests in shares held by Rankin Associates I.⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	85,056		85,056	I	Spouse's proportionate interests in shares held by Rankin Associates IV.⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	146		146	I	Spouse's proportionate interest in shares held by Rankin Associates VI⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	20,160		20,160	I	Spouse is Trustee of BTR 2020 GST trust fbo Clara Williams⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	11,766		11,766	I	proportionate LP interest in shares held by RA II, L.P
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	905		905	I	proportionate interests held in shares in Rankin Associates V
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	635		635	I	Reporting person's proportionate interest in shares held by Rankin Associates VI
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	62,035		62,035	I	Spouse is Trustee of HRB 2020 GST trust fbo Griffin Butler⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	1,892		1,892	I	Child's proportionate partnership interest shares held by AMR Associates LP⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	22,654		22,654	I	Child's trust?s proportionate interests in shares held by Rankin Associates II.⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	461		461	I	child's proportionate interests held in shares in Rankin Associates V⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	634		634	I	Child's proportionate interest in shares held by Rankin Associates VI⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	62,035		62,035	I	Serves as Trustee of CRW 2020 GST trust fbo Helen Williams⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	1,892		1,892	I	Child's proportionate partnership interest shares held by AMR Associates LP⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	19,904		19,904	I	Child's trust?s proportionate interests in shares held by Rankin Associates II.⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	461		461	I	child's proportionate interests held in shares in Rankin Associates V⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	634		634	I	Child's proportionate interest in shares held by Rankin Associates VI⁽²⁾
Class B Common Stock	⁽³⁾							⁽³⁾	⁽³⁾	Class A Common Stock	62,035		62,035	I	Serves as Trustee of CRW 2020 GST trust fbo Margo Williams⁽²⁾

Explanation of Responses:

1. Award-Shares of Class A Common Stock awarded to the Reporting Person as "Required Shares" under the company's Non-Employee Directors' Equity Compensation Plan.

2. Reporting Person disclaims beneficial ownership of all such shares.

3. N/A

	/s/ Suzanne S. Taylor, attorney-in-fact	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What transaction did David B. Williams report on Form 4 for HY?

The filing reports an acquisition of 963 Class A common shares on 10/01/2025 as "Required Shares" under the Non-Employee Directors' Equity Compensation Plan, reported at a $0 price.

Does the Form 4 show any sales or dispositions by the reporting person?

No. The Form 4 lists an acquisition (A) of 963 Class A shares and does not report any dispositions.

Are there other holdings disclosed for the reporting person in the filing?

Yes. The filing discloses numerous indirect holdings attributed through spouse, trusts, and partnerships, including large Class A equivalent amounts associated with Class B interests in Table II.

Did the reporting person claim beneficial ownership of all disclosed shares?

No. The filing explicitly states the reporting person disclaims beneficial ownership of certain shares listed.

Who signed the Form 4 and when?

The Form 4 was signed by Suzanne S. Taylor, attorney-in-fact on 10/02/2025.

HY Form 4: Director David B. Williams awarded 963 Class A shares