PayPay (PAYP) officer exercises stock options for 4,800 shares at $8.11

Rhea-AI Filing Summary

PayPay Corp officer Yasuda Masamichi exercised stock options to acquire 4,800 Common Shares on June 9, 2026 at an exercise price of $8.11 per share. These Common Shares are represented by American Depositary Shares on a one-for-one basis.

Following the transaction, he directly holds 14,400 Common Shares. A related derivative entry shows 24 stock options outstanding after the exercise, with each option exercisable for 200 Common Shares, totaling 4,800 underlying shares, and expiring on March 31, 2033.

Insider Trade Summary

24 shares exercised/converted

Mixed 2 txns

Insider Yasuda Masamichi

Role See Remarks

Type	Security	Shares	Price	Value
Exercise	Stock Options (Right to Buy)	24	$0.00	--
Exercise	Common Shares	4,800	$8.11	$39K

Holdings After Transaction: Stock Options (Right to Buy) — 47 shares (Direct, null); Common Shares — 14,400 shares (Direct, null)

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 JPY 160.2600 = US$1.00, which was the foreign exchange rate on June 5, 2026, as reported by the U.S. Federal Reserve in its weekly release on June 8, 2026. The exercise price is the actual Japanese Yen amount regardless of the exchange rate on the date of exercise. 47 options to vest in two equal annual installments on April 1, 2027, and April 1, 2028. 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.

Key Figures

Options exercised: 4,800 Common Shares Exercise price: $8.11 per share Post-transaction holdings: 14,400 Common Shares +5 more

8 metrics

Options exercised 4,800 Common Shares Underlying shares acquired via option exercise on June 9, 2026

Exercise price $8.11 per share Dollar-equivalent exercise price per Common Share

Post-transaction holdings 14,400 Common Shares Direct holdings after the transaction

Remaining options 24 options Each option exercisable for 200 Common Shares

Underlying shares on remaining options 4,800 Common Shares Shares tied to 24 remaining options

Yen exercise price JPY 1,300 per share Actual exercise price denominated in Japanese Yen

FX rate used JPY 160.2600 = US$1.00 Rate used to convert exercise price to dollars

Option expiry March 31, 2033 Expiration date of the remaining stock options

Key Terms

American Depositary Shares (ADS), exercise price, stock options, foreign exchange rate, +1 more

5 terms

American Depositary Shares (ADS) financial

"The Common Shares are represented by American Depositary Shares (ADS)."

American depositary shares (ADS) are a way for investors in the United States to buy shares of foreign companies without dealing with the complexities of international markets. They represent ownership in a foreign company's stock and are traded on U.S. exchanges, making it easier and more convenient for Americans to invest internationally. ADSs allow investors to diversify their portfolios with foreign companies while using familiar trading platforms.

exercise price financial

"The exercise price is denominated in Japanese Yen."

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.

foreign exchange rate financial

"converted to U.S. Dollars at the exchange rate of JPY 160.2600 = US$1.00"

underlying security financial

"underlying security title: Common Shares; underlying security shares: 4800.0000"

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 4 Insider Transactions: What Each Field Means →

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^*

Yasuda Masamichi

(Last) (First) (Middle)

YOTSUYA TOWER 1-6-1 YOTSUYA, SHINJUKU-KU

(Street)

TOKYO JAPAN 160-0004

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/09/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Shares(1)	06/09/2026		M		4,800	A	$8.11(2)	14,400	D

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
Stock Options (Right to Buy)	$8.11(2)	06/09/2026		M			24	(3)	03/31/2033	Common Shares(1)	4,800(4)	$0	47(3)	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 JPY 160.2600 = US$1.00, which was the foreign exchange rate on June 5, 2026, as reported by the U.S. Federal Reserve in its weekly release on June 8, 2026. The exercise price is the actual Japanese Yen amount regardless of the exchange rate on the date of exercise.

3. 47 options to vest in two equal annual installments on April 1, 2027, and April 1, 2028. 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.

	/s/ Kaori Sugiyama, as Attorney-in-Fact	06/10/2026
	** 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)

FAQ

What insider transaction did PayPay (PAYP) report for Yasuda Masamichi?

PayPay reported that officer Yasuda Masamichi exercised stock options to acquire 4,800 Common Shares. The options converted into Common Shares represented by American Depositary Shares, and the transaction was coded as a derivative exercise rather than an open-market purchase or sale.

At what price did Yasuda Masamichi exercise PayPay (PAYP) stock options?

The options were exercised at an effective price of $8.11 per Common Share. This reflects a Japanese Yen exercise price of JPY 1,300 converted using an exchange rate of JPY 160.2600 per US$1.00, based on the U.S. Federal Reserve’s referenced rate.

How many PayPay (PAYP) shares does Yasuda Masamichi hold after this Form 4?

After the reported option exercise, Yasuda Masamichi directly holds 14,400 Common Shares. These shares are represented by American Depositary Shares on a one-for-one basis, according to the filing’s footnotes describing the relationship between Common Shares and ADSs.

What stock options remain for Yasuda Masamichi after the PayPay (PAYP) transaction?

The filing shows 24 stock options remaining, each exercisable for 200 Common Shares. These options thus relate to 4,800 underlying Common Shares and are scheduled to vest in two equal installments on April 1, 2027 and April 1, 2028, expiring March 31, 2033.

How are PayPay (PAYP) Common Shares and ADSs related in this Form 4?

The filing states 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 using this one-for-one relationship, simplifying how U.S. investors can hold the equity.

How was the PayPay (PAYP) option exercise price converted from yen to dollars?

The exercise price is JPY 1,300 per Common Share, denominated in yen. For disclosure, it was converted to U.S. dollars using an exchange rate of JPY 160.2600 to US$1.00, corresponding to the U.S. Federal Reserve’s weekly release referenced in the filing’s foreign exchange footnote.