How many ORIX (IX) share-based compensation points does the trust hold after this transaction?

After the transaction, the filing shows 43,598 share-based compensation points outstanding. These points are held indirectly via a Board Incentive Plan Trust and each point represents a right to receive one share of ORIX Common Stock upon retirement.

How are the ORIX (IX) share-based compensation points held for Yamada Masataka?

The points are held indirectly through a Board Incentive Plan Trust. The Form 4 lists ownership as indirect, with the nature of ownership described as “By Board Incentive Plan Trust,” rather than direct personal share ownership by the reporting person.

What does each ORIX (IX) share-based compensation point represent?

Each point represents a right to receive one ORIX Common Stock share. According to the footnote, the reported derivative securities are granted under ORIX’s share-based compensation program and entitle the reporting person to Common Stock upon retirement.

ORIX director granted 37,370 share-based units

Q: Are the 37,370 ORIX (IX) share-based compensation points a stock purchase or sale?

No, the 37,370 points are not an open-market purchase or sale. They are share-based compensation granted under ORIX Corporation’s share-based compensation program, representing rights to receive Common Stock in the future upon retirement.

Q: Does this ORIX (IX) Form 4 indicate any net buying or selling of shares?

No net buying or selling is indicated in this Form 4. The transaction is coded “J” as an other acquisition or disposition related to restructuring, with the summary showing neutral net buy/sell shares and one derivative restructuring transaction.

ORIX CORP director and officer Yamada Masataka reported a restructuring-type share-based compensation transaction involving 37,370 derivative units linked to Common Stock.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

ORIX CORP director and officer Yamada Masataka reported a restructuring-type share-based compensation transaction involving 37,370 derivative units linked to Common Stock. Each point represents a right to receive one share of Common Stock under ORIX's share-based compensation program upon retirement.

The units are held indirectly through a Board Incentive Plan Trust, so the position is attributed to that trust rather than a direct market trade by the individual. Following this grant, the filing shows 43,598 share-based compensation points outstanding for this indirect holding, all tied to future delivery of Common Stock rather than immediate share ownership.

Insider Trade Summary

Other: 37,370 shares

Other 1 txn

Insider Yamada Masataka

Role See remarks

Type	Security	Shares	Price	Value
Other	Share-based Compensation Points	37,370	$0.00	$0.00

Holdings After Transaction: Share-based Compensation Points — 43,598 contracts (Indirect, By Board Incentive Plan Trust)

Footnotes (2)

F1. Each point represents a right to receive one share of Common Stock.
F2. The reported derivative securities represent share-based compensation granted under ORIX Corporation's share-based compensation program, which entitles the Reporting Person to receive the stated amount of Common Stock upon retirement.

Key Figures

Share-based compensation points: 37,370 points Points following transaction: 43,598 points Conversion ratio: 1 point = 1 share +1 more

4 metrics

Share-based compensation points 37,370 points Restructuring-type derivative transaction on 2026-06-23

Points following transaction 43,598 points Total share-based compensation points outstanding after transaction

Conversion ratio 1 point = 1 share Each point represents a right to receive one Common Stock share

Transaction code J Other acquisition or disposition / restructuring-type derivative entry

Key Terms

Share-based Compensation Points, Board Incentive Plan Trust, share-based compensation program, derivative securities

4 terms

Board Incentive Plan Trust financial

"nature_of_ownership: By Board Incentive Plan Trust"

derivative securities financial

"The reported derivative securities represent share-based compensation granted under ORIX Corporation's share-based compensation program"

Financial contracts whose value is tied to the price or performance of another asset, such as a stock, bond, commodity, index, or currency; examples include options, futures and swaps. They matter to investors because they let you protect against price swings, bet on future moves or gain larger exposure with less upfront cash—like using a lever or insurance policy on an investment—so they can amplify gains and losses and help manage portfolio risk.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did ORIX (IX) insider Yamada Masataka report in this Form 4?

Yamada Masataka reported a restructuring-type share-based compensation transaction. The filing shows 37,370 share-based compensation points, each representing a right to receive one ORIX Common Stock share upon retirement, held indirectly through a Board Incentive Plan Trust.

Does this ORIX (IX) Form 4 indicate any net buying or selling of shares?

No net buying or selling is indicated in this Form 4. The transaction is coded “J” as an other acquisition or disposition related to restructuring, with the summary showing neutral net buy/sell shares and one derivative restructuring transaction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/25/2026 - 06:30 AM EDT

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^*

Yamada Masataka

(Last)

(First)

(Middle)

WORLD TRADE CENTER BUILDING, SOUTH TOWER

2-4-1 HAMAMATSU-CHO, MINATO-KU

(Street)

TOKYO

JAPAN

105-5135

(City)

(State)

(Zip)

JAPAN

(Country)

2. Issuer Name and Ticker or Trading Symbol
ORIX CORP [ IX ]

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

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

2a. Foreign Trading Symbol
[TSE: 8591]

3. Date of Earliest Transaction (Month/Day/Year)
06/25/2026

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

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

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

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)

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)
Share-based Compensation Points	⁽¹⁾	06/23/2026		J		37,370		⁽²⁾	⁽²⁾	Common Stock	37,370	$0	43,598	I	By Board Incentive Plan Trust

Explanation of Responses:

1. Each point represents a right to receive one share of Common Stock.

2. The reported derivative securities represent share-based compensation granted under ORIX Corporation's share-based compensation program, which entitles the Reporting Person to receive the stated amount of Common Stock upon retirement.

Remarks:

Senior Managing Executive Officer, Chief Financial Officer and Chief Strategy Officer Responsible for Corporate Strategy and Management Unit

	/s/ Tomohiko Ishihara as Attorney-in-Fact for Masataka Yamada	06/25/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR