[Form 4] Hyster-Yale, Inc. Insider Trading Activity

Rhea-AI Filing Summary

On July 1, 2025, Hyster-Yale (HY) director David B. Williams reported the acquisition of 948 Class A common shares at a cost basis of $0 under the company’s Non-Employee Directors’ Equity Compensation Plan. Following the grant, Williams’ directly held position—maintained in a trust for his benefit—increased to 21,411 shares. The filing also lists extensive indirect holdings for Williams and related family trusts and partnerships, but these positions were unchanged; no sales or open-market purchases were disclosed. The transaction is routine director compensation rather than an elective purchase, making the overall market impact minimal.

Insights

Securities Analyst

TL;DR – Routine equity grant; no material signal.

The Form 4 records a standard director stock award of 948 shares to David B. Williams. Such automatic grants align director interests with shareholders but, at less than 1 % of average daily HY volume and with no cash outlay, provide negligible information content for valuation models. Indirect family trust holdings remain static, indicating no insider sentiment shift. I view the disclosure as neutral for investors.

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

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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^*

WILLIAMS DAVID B

(Last) (First) (Middle)

5875 LANDERBROOK DRIVE

(Street)

MAYFIELD HEIGHTS OH 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)
07/01/2025

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	07/01/2025		A(1)		948	A	$0	21,411	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
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	07/01/2025
	** 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.
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FAQ

How many Hyster-Yale (HY) shares did David B. Williams acquire?

948 Class A common shares were granted on July 1, 2025.

Was the transaction a market purchase or a compensation award?

The shares were a non-employee director compensation award at a $0 purchase price, not an open-market buy.

What is Williams’ direct HY share ownership after the grant?

He now directly holds 21,411 Class A shares in a trust for his benefit.

Did the filing report any sales or disposals by Williams?

No. The filing shows no share sales or disposals; only the 948-share award was recorded.

Are indirect family trust positions in HY shares affected?

All listed indirect holdings remain unchanged; Williams disclaims beneficial ownership of those shares.