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PayPay (PAYP) officer exercises stock options for 3,400 ADS-equivalent shares

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

Rhea-AI Filing Summary

PayPay Corp officer Kagechika Wataru exercised stock options to acquire 3,400 Common Shares on June 10, 2026 at an exercise price of $8.11 per share. Following the exercise, he held 10,278 Common Shares directly. Each option is exercisable for 200 Common Shares, which are represented by American Depositary Shares on a one-for-one basis.

Positive

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Negative

  • None.
Insider Kagechika Wataru
Role See Remarks
Type Security Shares Price Value
Exercise Stock Options (Right to Buy) 17 $0.00 --
Exercise Common Shares 3,400 $8.11 $28K
Holdings After Transaction: Stock Options (Right to Buy) — 32 shares (Direct, null); Common Shares — 10,278 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. 32 options were 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. On June 11, 2026, the 32 stock options indicated above were forfeited for no value pursuant to the terms of the applicable award agreements. Reflects awards of stock options, with each option exercisable for 200 Common Shares.
Shares acquired via exercise 3,400 Common Shares Option exercise on June 10, 2026
Exercise price per share $8.11 per Common Share Converted from JPY 1,300 at JPY 160.2600 = US$1.00
Shares held after transaction 10,278 Common Shares Direct ownership following June 10, 2026 exercise
Option-to-share ratio 200 Common Shares per option Each stock option exercisable for 200 Common Shares
Yen exercise price JPY 1,300 per Common Share Original option strike price denominated in Japanese Yen
FX rate used JPY 160.2600 = US$1.00 Conversion rate referenced for dollar exercise price
Option expiration March 31, 2033 Expiration date for stock options involved
Forfeited options 32 stock options Forfeited for no value on June 11, 2026
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.
vesting financial
"32 options were 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.
forfeited for no value financial
"On June 11, 2026, the 32 stock options indicated above were forfeited for no value"
stock options (Right to Buy) financial
"Stock Options (Right to Buy)"
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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*
Kagechika Wataru
(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)
06/10/2026		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)06/10/2026M3,400A$8.11(2)10,278D
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)$8.11(2)06/10/2026M17 (3)03/31/2033Common Shares(1)3,400(4)$032(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. 32 options were 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. On June 11, 2026, the 32 stock options indicated above were forfeited for no value pursuant to the terms of the applicable award agreements.
4. Reflects awards of stock options, with each option exercisable for 200 Common Shares.
Remarks:
Managing Corporate Officer and CFO
/s/ Kaori Sugiyama, as Attorney-in-Fact06/12/2026
** 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 Kagechika Wataru?

PayPay reported that officer Kagechika Wataru exercised stock options to acquire 3,400 Common Shares. This was a derivative exercise transaction, not an open-market purchase or sale, and increased his directly held share count to 10,278 Common Shares.

At what price did Kagechika Wataru exercise his PayPay (PAYP) stock options?

The options were exercised at an effective price of $8.11 per Common Share. This U.S. dollar figure reflects a conversion from a JPY 1,300 exercise price using an exchange rate of JPY 160.2600 to US$1.00 as of early June 2026.

How many PayPay (PAYP) shares does Kagechika Wataru hold after this Form 4 transaction?

After exercising options for 3,400 Common Shares, Kagechika Wataru directly holds 10,278 Common Shares. These Common Shares are represented by American Depositary Shares (ADS), with each Common Share converted into one ADS on a one-for-one basis.

What derivative securities were involved in the PayPay (PAYP) Form 4 filing?

The filing shows Stock Options (Right to Buy) covering 3,400 underlying Common Shares. Each option is exercisable for 200 Common Shares at JPY 1,300 per share, with an expiration date of March 31, 2033, and the reported transaction was an option exercise.

What does the Form 4 say about vesting and forfeiture of PayPay (PAYP) stock options?

It notes 32 stock options were scheduled to vest in two equal installments on April 1, 2027 and April 1, 2028. However, on June 11, 2026, those 32 stock options were forfeited for no value under the terms of the applicable award agreements.