MUFG (OTC: MBFJF) executive discloses stock and incentive plan points

Rhea-AI Filing Summary

MITSUBISHI UFJ FINANCIAL GROUP INC executive Osawa Masakazu has filed an initial insider report detailing his equity-linked compensation and share holdings. The filing shows direct ownership of 15,200 shares of common stock as of March 18, 2026.

He also holds several blocks of stock compensation plan points that are exchangeable one-for-one into common shares, including 17,023 and 20,412 non-adjustable points and 1,320 annual performance-based points. These points are subject to clawback and forfeiture for cause and will convert into shares only after specific service and performance periods, mainly tied to the issuer’s medium-term business plan ending on March 31, 2027.

Before delivery, the underlying shares are held in a board incentive plan trust. Under the plan, 50% of the shares will be sold by the trust through pre-arranged open market sales in Japan, with the cash proceeds and the remaining 50% in shares delivered to Osawa upon retirement or at scheduled dates after the plan period.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Osawa Masakazu

(Last) (First) (Middle)

4-5, MARUNOUCHI 1-CHOME, CHIYODA-KU

(Street)

TOKYO JAPAN 100-8330

(City) (State) (Zip)

JAPAN

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
MITSUBISHI UFJ FINANCIAL GROUP INC [ MUFG ]

3a. Foreign Trading Symbol
[8306 (TSE)]

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

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

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

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	15,200	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Compensation Plan Points(1)	(1)	(1)	Common Stock	17,023	(1)	D
Stock Compensation Plan Points(2)	(2)	(2)	Common Stock	20,412	(2)	D
Stock Compensation Plan Points(3)(4)(5)	(3)(4)	(3)(4)	Common Stock	1,320	(3)(4)	D

Explanation of Responses:

1. Represents the aggregate non-adjustable points held by the reporting person as of March 18, 2026 under the Issuer's stock compensation plan (the "Plan"). Subject to clawback and forfeiture for cause, each non-adjustable point held under the Plan will be exchangeable for one share of the Issuer's common stock following the reporting person's retirement from the position with responsibilities based on which the points were granted. Prior to delivery, the shares to be exchanged for the received points are held by a board incentive plan trust, and 50% of such shares will be sold by the trust through pre-arranged open market sale in Japan in accordance with the Plan on a specific date following the reporting person's retirement from the relevant position. Net proceeds from such sale in cash, together with the remaining 50% in shares, will be delivered to the reporting person.

2. Represents the aggregate non-adjustable points that the reporting person is entitled to receive in equal monthly installments on the first day of each month during the reporting person's service period from the date hereof to June 2026.

3. Represents the aggregate annual performance-based points held by the reporting person as of March 18, 2026. These annual performance-based points were granted on June 1, 2025, based on certain performance criteria applied during the reporting person's service period from July 2024 to June 2025 under the Plan. Subject to clawback and forfeiture for cause, each annual performance-based point received under the Plan will be exchangeable for one share of the Issuer's common stock following the end of the Issuer's current three-year medium-term business plan period ending on March 31, 2027. Prior to delivery, the shares to be exchanged for the received points are held by a board incentive plan trust, and 50% of such shares will be sold by the trust through pre-arranged open market sale in Japan in accordance with the Plan on the tenth business day in June 2027. Net proceeds from such sale in cash, together with the remaining 50% in shares, will be delivered to the reporting person.

4. (Continued from footnote 3) Separate from the reported amounts, the reporting person is entitled to additional annual performance-based points based on the reporting person's performance during the service period from July 2025 to June 2026. Those annual performance points are subject to an adjustment ranging from 0% to 150% and will be determined and fixed in June 2026 and, subject to clawback and forfeiture for cause, will also be exchangeable into shares of the Issuer's common stock on a one for one basis following the end of the Issuer's current three-year medium-term business plan period ending on March 31, 2027 and delivered based on the same delivery terms as other annual performance-based points.

5. In addition to the non-adjustable points and annual performance-based points, the reporting person is entitled to medium-term performance-based points based on the reporting person's performance during the Issuer's current three-year medium-term business plan period ending March 31, 2027. These points are subject to an adjustment ranging from 0% to 150% and will be determined and fixed following the end of the Issuer's current three-year medium-term business plan period ending on March 31, 2027. Subject to clawback and forfeiture for cause, these medium-term performance-based points will also be exchangeable into shares of the Issuer's common stock on a one for one basis following the end of the Issuer's current three-year medium-term business plan period ending on March 31, 2027 and delivered based on the same delivery terms as annual performance-based points.

Remarks:

Senior Managing Corporate Executive This statement on Form 3 is filed upon effectiveness of the U.S. Holding Foreign Insiders Accountable Act. Exhibit 24 - Power of Attorney

	/s/ Kazutaka Kato, by Power of Attorney	03/18/2026
	** 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 5 (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 3: SEC 1473 (03-26)

FAQ

What does the MUFG (MBFJF) Form 3 filing by Osawa Masakazu report?

The Form 3 reports Osawa Masakazu’s initial insider holdings at MUFG, including 15,200 common shares and several tranches of stock compensation plan points. These points can convert into common stock based on service, retirement, and performance conditions under the company’s incentive plan.

How many MUFG (MBFJF) common shares does Osawa Masakazu directly hold?

Osawa Masakazu directly holds 15,200 shares of MUFG common stock as of March 18, 2026. This direct ownership is separate from his various stock compensation plan points, which may convert into additional shares in the future if plan conditions are satisfied.

What are MUFG stock compensation plan points disclosed in this Form 3?

The stock compensation plan points are units that can be exchanged one-for-one into MUFG common shares. Osawa holds non-adjustable and performance-based points, subject to clawback and performance tests, which generally convert into shares after retirement or the current medium-term business plan period.

When can Osawa’s MUFG stock compensation points convert into common stock?

Non-adjustable points convert after Osawa’s retirement from the relevant position, while annual and medium-term performance-based points convert after MUFG’s three-year medium-term business plan ending March 31, 2027. Conversion depends on continued service, performance outcomes, and clawback and forfeiture conditions.

How will MUFG deliver shares and cash from Osawa’s incentive plan points?

Shares underlying the points are held in a board incentive plan trust. After retirement or specified plan dates, the trust will sell 50% of the shares via pre-arranged open market sales in Japan, delivering cash proceeds plus the remaining 50% in shares to Osawa.

Are MUFG performance-based points in this Form 3 fixed or adjustable?

The annual and medium-term performance-based points are adjustable between 0% and 150% based on performance during defined service or plan periods. Final amounts will be determined in June 2026 and after March 31, 2027, before being exchangeable into MUFG common stock on a one-for-one basis.