[Form 4] HYSTER-YALE, INC. Insider Trading Activity

Rhea-AI Filing Summary

Claiborne R. Rankin, a director of Hyster-Yale, Inc. (HY), reported an acquisition of 963 shares of Class A common stock on 10/01/2025 as "Required Shares" under the companys Non-Employee Directors Equity Compensation Plan. After the reported transaction, the filing shows 243,245 shares of Class A common stock beneficially owned by the reporting person, largely held indirectly through trusts, limited partnerships and interests attributed to the reporting persons spouse. The Form 4 discloses multiple indirect holdings and trustee roles rather than open-market purchases or sales, and the reporting person disclaims beneficial ownership for certain trust-held shares.

Positive

• Director equity award aligns interests with shareholders by granting Required Shares under the non-employee directors' equity plan

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine director equity award; modest incremental ownership, largely indirect, so limited market impact.

The transaction is a non-cash issuance of 963 Class A shares as required director compensation, not an open-market trade, which increases the reporting person's beneficial holdings to 243,245 shares. Because holdings are chiefly indirect through trusts and partnership interests, the filing signals governance and long-term alignment rather than active trading. This is informational for share-count and insider-holdings metrics but unlikely to materially affect near-term valuation or liquidity.

Corporate Governance Expert

TL;DR: Director received equity under standard plan and serves in multiple trustee roles; filing clarifies ownership structure.

The Form 4 documents an equity award under the Non-Employee Directors' Equity Compensation Plan and extensive indirect holdings via trusts and limited partnerships where the reporting person is trustee or has spouse-associated interests. The filing is useful for understanding voting and control concentration because it enumerates indirect holdings and disclaimers of beneficial ownership, but it does not indicate changes in control or a change in management incentives beyond normal director compensation practices.

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

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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).

1. Name and Address of Reporting Person^*

RANKIN CLAIBORNE R

(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)
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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/01/2025		A(1)		963	A	$0	243,245	I	Reporting Person serves as Trustee of a Trust for the benefit of Claiborne R. Rankin
Class A Common Stock								10,738	I	Reporting Person serves as Trustee of Trusts for the benefit of the Estate of Alfred M. Rankin Sr.
Class A Common Stock								6,957	I	Held in trust fbo Reporting Person's spouse.(2)
Class A Common Stock								188	I	Serves as Trustee of the GSTs for the benefit of Julia R. Kuipers(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	100,000		100,000	I	spouses proportionate LP interst in shares held in RA1(2)
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	3,956		3,956	I	spouse's proportionate limited partnership interest in shares held by Rankin Associates II LP(2)
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	377		377	I	Spouse's proportionate interests held in shares in Rankin Associates V(2)
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	635		635	I	Spouse's proportionate interest in shares held by Rankin Associates VI(2)
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	168,945		168,945	I	Spouse's proportionate interest held in shares in RA IV(2)
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	20,159		20,159	I	Serves as Trustee of BTR 2020 GST trust fbo Chloe Seelbach(2)
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	50		50	I	Proportionate general partnership interest in shares held in RAIV(4)
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	40,624		40,624	I	proportionate limited partnership interest in shares held by Rankin Associates I, L.P
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	56,991		56,991	I	_proportionate limited partnership interests in shares held by Rankin Associates II, L.P
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	1,165		1,165	I	proportionate limited partnership interest in shares held by Rankin Associates IV, L.P
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	155		155	I	Interest in Shares held by Rankin Associates V
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	292		292	I	Proportionate interest in shares held by Rankin Associates VI
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	20,159		20,159	I	Serves as Trustee of BTR 2020 GST trust fbo Clay Rankin Jr(2)
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	80		80	I	Interest in shares held by RAV held by Rankin Management, Inc. ("RMI")
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	100		100	I	Interest in shares held by RAVI held by Rankin Management, Inc. ("RMI")
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	3,950		3,950	I	proportionate interest in shares held by Rankin Management, Inc. ("RMI")
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	30,552		30,552	I	Reporting Person serves as Trustee of a Trust for the benefit of Claiborne R. Rankin
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	54,030		54,030	I	Serves as Trustee of GSTs for the benefit of Chloe Seelbach(2)
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	54,030		54,030	I	Serves as Trustee of the GSTs for the benefit of Claiborne Rankin Jr.(2)
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	54,030		54,030	I	Serves as Trustee of the GSTs for the benefit of Julia R. Kuipers(2)
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	20,160		20,160	I	Serves as Trustee of BTR 2020 GST trust fbo Julia Kuipers(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

4. proportionate limited partnership interest in shares of Rankin Associates, IV, L.P. held by the Trust for the benefit of Reporting Person, as general partner.

	/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.

FAQ

What transaction did Claiborne R. Rankin report on Form 4 for Hyster-Yale (HY)?

The Form 4 reports an acquisition of 963 Class A shares on 10/01/2025 as Required Shares under the companys Non-Employee Directors' Equity Compensation Plan.

How many Class A shares does the reporting person beneficially own after the transaction?

The filing shows the reporting person beneficially owns 243,245 Class A shares following the reported transaction.

Are the shares held directly or indirectly by the reporting person?

Most of the reported holdings are held indirectly through trusts, limited partnerships, and interests attributed to the reporting person's spouse; the filer also serves as trustee for multiple trusts.

Was this Form 4 filing an open-market purchase or a compensation issuance?

The 963 shares were issued as Required Shares under the Non-Employee Directors' Equity Compensation Plan, not an open-market purchase.

Does the reporting person claim beneficial ownership of all indirect holdings?

No. The filing includes statements that the reporting person disclaims beneficial ownership of certain trust-held shares.