PayPay director exercises options for 2,600 shares

PayPay Corp director and officer Nakayama Ichiro exercised stock options to acquire 2,600 Common Shares at $8.11 per share on June 9, 2026.

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Form Type

Rhea-AI Filing Summary

PayPay Corp director and officer Nakayama Ichiro exercised stock options to acquire 2,600 Common Shares at $8.11 per share on June 9, 2026. The Common Shares are represented by American Depositary Shares on a one-for-one basis. Following the transaction, he directly holds 57,078.4 Common Shares.

The exercise related to 13 Stock Options, each exercisable for 200 Common Shares. After this event, 190 options remain outstanding, each with an exercise price of JPY 1,300 per Common Share, expiring on March 31, 2033 and vesting in two equal installments on April 1, 2027 and April 1, 2028. No shares were sold in this filing.

Insider Trade Summary

13 shares exercised/converted

Exercise 2 txns

Insider Nakayama Ichiro

Role See Remarks

Type	Security	Shares	Price	Value
Exercise	Stock Options (Right to Buy)	13	$0.00	$0.00
Exercise	Common Shares	2,600	$8.11	$21K

Holdings After Transaction: Stock Options (Right to Buy) — 190 contracts (Direct); Common Shares — 57,078.4 shares (Direct)

Footnotes (4)

F1. 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.
F2. 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 perCommon 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 theU.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.
F3. 190 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.
F4. Reflects awards of stock options, with each option exercisable for 200 Common Shares.

Key Figures

Shares acquired: 2,600 Common Shares Exercise price per share: $8.11 per Common Share Post-transaction holdings: 57,078.4 Common Shares +5 more

8 metrics

Shares acquired 2,600 Common Shares Acquired via stock option exercise on June 9, 2026

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

Post-transaction holdings 57,078.4 Common Shares Direct ownership after reported transactions

Options exercised 13 stock options Each option exercisable for 200 Common Shares

Remaining options 190 stock options To vest in two equal installments in 2027 and 2028

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

FX rate used JPY 160.2600 = US$1.00 Rate used to calculate $8.11 exercise price

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

Key Terms

American Depositary Shares (ADS), exercise price, Stock Options (Right to Buy), derivative security, +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 (Right to Buy) financial

"Stock Options (Right to Buy)"

derivative security financial

"Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

vesting financial

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

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.

FAQ

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

What did Nakayama Ichiro report in this PayPay (PAYP) Form 4 filing?

Nakayama Ichiro reported exercising stock options to acquire 2,600 PayPay Common Shares at $8.11 per share. These shares are represented by American Depositary Shares, and the filing shows updated direct holdings and remaining option awards with their key terms.

How many PayPay (PAYP) shares does Nakayama Ichiro hold after this transaction?

After the option exercise, Nakayama Ichiro directly holds 57,078.4 PayPay Common Shares. This figure reflects his updated ownership position following the acquisition of 2,600 shares through stock option exercises reported in the Form 4 filing.

What stock options did Nakayama Ichiro exercise in the PayPay (PAYP) Form 4?

He exercised 13 Stock Options, each exercisable for 200 Common Shares, acquiring a total of 2,600 Common Shares. The options carried an exercise price equivalent to $8.11 per share based on a JPY 1,300 exercise price converted using a stated exchange rate.

What PayPay (PAYP) stock options remain after this Form 4 transaction?

The filing shows 190 remaining stock options, each exercisable for 200 Common Shares at an exercise price of JPY 1,300 per Common Share. These options expire on March 31, 2033 and vest in two equal annual installments on April 1, 2027 and April 1, 2028.

Were any PayPay (PAYP) shares sold in Nakayama Ichiro’s Form 4 filing?

No shares were sold in this Form 4. The transactions reported are coded as exercises or conversions of derivative securities, resulting in the acquisition of 2,600 Common Shares with no reported open-market or other share sales.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 06/09/2026 - 07:08 PM

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^*

Nakayama Ichiro

(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)

X	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)
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)
Common Shares⁽¹⁾	06/09/2026		M		2,600	A	$8.11⁽²⁾	57,078.4	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)
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)
Stock Options (Right to Buy)	$8.11⁽²⁾	06/09/2026		M			13	⁽³⁾	03/31/2033	Common Shares⁽¹⁾	2,600⁽⁴⁾	$0	190⁽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 perCommon 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 theU.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. 190 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.

Remarks:

Title: President, Representative Director, CEO and Corporate Officer

	/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)

Source: View Original Filing on SEC EDGAR