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

Rhea-AI Filing Summary

Hyster-Yale, Inc. (HY) Form 4 filing dated 01 July 2025 reports that insider Helen Rankin Butler acquired 948 Class A common shares (transaction code A, price $0) through her spouse’s award under the company’s Non-Employee Directors’ Equity Compensation Plan.

Following the transaction, Butler lists 56,022 Class A shares held indirectly via the J.C. Butler, Jr. Revocable Trust. The filing also details substantial additional indirect holdings managed through multiple family trusts and partnerships, including 183,605 and 153,313 Class A shares, as well as Class B holdings convertible into more than 400,000 Class A-equivalent shares.

No shares were sold and no derivative securities were exercised, so the award represents a net increase in the insider’s ownership position.

Positive

• Insider acquisition: Butler received 948 Class A shares, increasing her ownership and aligning interests with shareholders.
• Stable insider commitment: Filing confirms continued substantial indirect holdings (56,022 Class A shares plus large trust positions).

Negative

• Limited materiality: Grant size is small and was not an open-market purchase, reducing its signaling power.

Insights

Securities Analyst

TL;DR: Small insider award (948 shares) slightly raises stake; signal is mildly positive but immaterial to valuation.

The Form 4 shows an equity award—rather than an open-market purchase—granted at zero cost under the Non-Employee Directors’ plan. While any increase in insider holdings is directionally positive, the size (948 shares) is negligible relative to Hyster-Yale’s approximately 16 million shares outstanding. Importantly, Butler already has extensive indirect exposure (over 56k direct-reported Class A shares plus significant trust and partnership interests), so the economic impact of this incremental award is minimal. There are no sales, option exercises, or derivative disposals that would indicate negative sentiment. Overall, the filing is routine and not materially impactful 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

OMB Number:			3235-0287
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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^*

BUTLER HELEN RANKIN

(Last) (First) (Middle)

5875 LANDERBROOK DRIVE, SUITE 300

(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)

	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	56,022	I	spouse serves as Trustee of the J.C. Butler, Jr. Revocable Trust.(2)
Class A Common Stock								1,967	I	Child's proportionate partnership interest shares held by AMR Associates LP(2)
Class A Common Stock								12,700	I	held in Trust for the benefit of Reporting Person's child(2)
Class A Common Stock								1,967	I	Child's proportionate partnership interest shares held by AMR Associates LP(2)
Class A Common Stock								12,388	I	held in trust for the benefit of Reporting Person's child(2)
Class A Common Stock								153,313	I	proportionate partnership interest shares held by AMR Associates LP
Class A Common Stock								2,647	I	Reporting Person serves as Trustee of GSTs for the benefit of Helen R. Butler
Class A Common Stock								183,605	I	held by Trust for the benefit of Reporting Person
Class A Common Stock								2,800	I	Individual Retirement Account for the benefit of the Reporting Person's spouse(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	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	8,879		8,879	I	Trustee of JCB 2020 GST trust fbo daughter. Reflects proportionate interest held in shares in RAII(2)
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	18,104		18,104	I	child's proportionate limited partnership interests in shares held by Rankin Associates II, L.P(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	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	8,880		8,880	I	Trustee of JCB 2020 GST trust fbo son. Reflects proportionate interest held in shares in RAII(2)
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	18,416		18,416	I	child's proportionate limited partnership interests in shares held by Rankin Associates II, L.P(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	147,481		147,481	I	proportionate partnership interest shares held by AMR Associates LP
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 Helen Butler
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	41,679		41,679	I	Reporting Person serves as Trustee of GSTs for the benefit of Helen R. Butler
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	52,321		52,321	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	85,056		85,056	I	proportionate limited partnership interests in shares held by Rankin Associates IV, L.P.
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	146		146	I	Reporting person's proportionate interest in shares held by Rankin Associates VI
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	2,800		2,800	I	Individual Retirement Account for the benefit of the Reporting Person's spouse(2)

Explanation of Responses:

1. Spouse's Award-Shares of Class A Common Stock awarded to the Reporting Person's Spouse 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.
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 Helen Rankin Butler report in the July 1 2025 Form 4 for HY?

She acquired 948 Class A shares at $0 under the Non-Employee Directors’ Equity Compensation Plan.

How many Class A shares does Butler now hold indirectly?

The filing shows 56,022 Class A shares held via the J.C. Butler, Jr. Revocable Trust.

Were any Hyster-Yale shares sold in this Form 4?

No. The filing only reports an acquisition; there were no sales or dispositions.

Does the filing disclose any derivative exercises or option grants?

No derivative securities were exercised; listed Class B positions remain unchanged.

Why was the acquisition price recorded as $0?

The shares were an equity award granted under the company’s Non-Employee Directors’ Equity Compensation Plan, not a market purchase.

Is the reported transaction likely to affect Hyster-Yale’s stock price?

Given the small size (948 shares), the impact is expected to be immaterial to HY’s share price.