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PayPay (PAYP) officer exercises stock options, now holding 10,278 shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

PayPay Corp officer Sode Masanori exercised stock options to acquire additional equity in the company. He exercised 51 stock options, each for 200 Common Shares, resulting in 10,200 new Common Shares at an exercise price of $8.14 per share. Following the transaction, he directly holds 10,278.4 Common Shares. The Common Shares are represented by American Depositary Shares on a one-for-one basis. Footnotes state that 25 of these options are already vested, with the remaining 50 options vesting in two equal annual installments beginning on April 1, 2027.

Positive

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Negative

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Insider Sode Masanori
Role See Remarks
Type Security Shares Price Value
Exercise Stock Options (Right to Buy) 51 $0.00 --
Exercise Common Shares 10,200 $8.14 $83K
Holdings After Transaction: Stock Options (Right to Buy) — 75 shares (Direct); Common Shares — 10,278.4 shares (Direct)
Footnotes (1)
  1. The Common Shares are represented by American Depositary Shares (ADS). The Common Shares received upon exercise of any Stock Options will be converted into ADSs on a one-for-one basis. The exercise price is denominated in Japanese Yen. For purposes of calculating the dollar denominated exercise price per Common Share, the exercise price of JPY 1,300 per Common Share has been converted to U.S. Dollars at the exchange rate of JPY159.6400 = US$1.00, which was the foreign exchange rate on April 3, 2026, as reported by the U.S. Federal Reserve in its weekly release on April 6, 2026. The exercise price is the actual Japanese Yen amount regardless of the exchange rate on the date of exercise. 25 of these options are fully vested with the remaining 50 options to vest in two equal annual installments beginning on April 1, 2027. The Form 3 filed on March 18, 2026, reflected the vesting terms relating to the number of shares underlying such options, with each option exercisable for 200 Common Shares. Reflects awards of stock options, with each option exercisable for 200 Common Shares.
Options exercised 51 options Stock Options (Right to Buy) exercised on 2026-04-07
Shares acquired 10,200 Common Shares Each option exercisable for 200 Common Shares
Exercise price $8.14 per Common Share Converted from JPY 1,300 using JPY159.6400 = US$1.00
Post-transaction holdings 10,278.4 Common Shares Direct ownership after option exercise
JPY exercise price JPY 1,300 per Common Share Base currency of stock option exercise price
FX rate used JPY159.6400 = US$1.00 Rate on April 3, 2026 for dollar conversion
Option expiration 2033-03-31 Expiration date of stock options
Future vesting schedule 50 options vest in two annual installments Beginning on April 1, 2027
American Depositary Shares financial
"The Common Shares are represented by American Depositary Shares (ADS)."
American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.
exercise price financial
"The exercise price of JPY 1,300 per Common Share has been converted to U.S. Dollars."
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
stock options financial
"Reflects awards of stock options, with each option exercisable for 200 Common Shares."
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
vesting financial
"25 of these options are fully vested with the remaining 50 options to vest in two equal annual installments."
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
Common Shares financial
"The Common Shares received upon exercise of any Stock Options will be converted into ADSs."
Common shares are the basic units of ownership in a company that give holders a claim on profits and a right to vote on key matters, like electing the board. Think of them as membership cards in a club: they let you share in successes and losses, but in a bankruptcy or liquidation they are paid after creditors and preferred shareholders, so their value can swing more and matters for assessing risk and potential return.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Sode Masanori
(Last)(First)(Middle)
YOTSUYA TOWER 1-6-1 YOTSUYA, SHINJUKU-KU
(Street)
TOKYOJAPAN160-0004
(City)(State)(Zip)
JAPAN
(Country)		2. Issuer Name and Ticker or Trading Symbol
PayPay Corp [ PAYP ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
See Remarks
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/07/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Shares(1)04/07/2026M10,200A$8.14(2)10,278.4D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Options (Right to Buy)$8.14(2)04/07/2026M51 (3)03/31/2033Common Shares(1)10,200(4)$075(4)D
Explanation of Responses:
1. The Common Shares are represented by American Depositary Shares (ADS). The Common Shares received upon exercise of any Stock Options will be converted into ADSs on a one-for-one basis.
2. The exercise price is denominated in Japanese Yen. For purposes of calculating the dollar denominated exercise price per Common Share, the exercise price of JPY 1,300 per Common Share has been converted to U.S. Dollars at the exchange rate of JPY159.6400 = US$1.00, which was the foreign exchange rate on April 3, 2026, as reported by the U.S. Federal Reserve in its weekly release on April 6, 2026. The exercise price is the actual Japanese Yen amount regardless of the exchange rate on the date of exercise.
3. 25 of these options are fully vested with the remaining 50 options to vest in two equal annual installments beginning on April 1, 2027. The Form 3 filed on March 18, 2026, reflected the vesting terms relating to the number of shares underlying such options, with each option exercisable for 200 Common Shares.
4. Reflects awards of stock options, with each option exercisable for 200 Common Shares.
Remarks:
Title:Managing Corporate Officer, CAO and CHRO Due to the Issuer's status as a foreign private issuer pursuant to Rule 3a12-3(b) under the Securities Exchange Act of 1934 (the "Act"), the reporting person's transactions in the Issuer's equity securities are exempt from Sections 16(b) and 16(c) of the Act.
/s/Hirotoshi Yamaoka, as Attorney-in -Fact04/08/2026
** Signature of Reporting PersonDate
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

FAQ

What insider transaction did PayPay (PAYP) report for Sode Masanori?

PayPay reported that officer Sode Masanori exercised stock options to acquire 10,200 Common Shares. This came from exercising 51 options, each covering 200 shares, increasing his direct equity stake in the company through an options-to-shares conversion.

At what price did Sode Masanori exercise his PayPay (PAYP) stock options?

He exercised the options at $8.14 per Common Share, based on a JPY 1,300 exercise price converted using a JPY159.6400 to US$1.00 exchange rate. The actual obligation remains denominated in Japanese Yen regardless of future exchange-rate movements.

How many PayPay (PAYP) shares does Sode Masanori hold after this Form 4?

After the transaction, Sode Masanori directly holds 10,278.4 Common Shares. This reflects the addition of 10,200 shares from the option exercise reported in the filing and shows his updated post-transaction ownership position in PayPay Corp.

What are the vesting terms of the PayPay (PAYP) stock options exercised by Sode Masanori?

Footnotes state that 25 of these options are fully vested, while the remaining 50 options will vest in two equal annual installments starting April 1, 2027. Each option is exercisable for 200 Common Shares under the terms described in the filing.

How are PayPay (PAYP) Common Shares represented for U.S. investors in this Form 4?

The filing explains that PayPay’s Common Shares are represented by American Depositary Shares on a one-for-one basis. Common Shares received upon any stock option exercise are converted into ADSs at that same one-to-one ratio for trading in U.S. markets.