Pershing Square USA (PSUS) CCO invests $10M in IPO shares

Rhea-AI Filing Summary

Pershing Square USA, Ltd. Chief Compliance Officer Coussin Halit bought 200,000 Common Shares of Beneficial Interest on April 30, 2026. The shares were acquired at $50.00 per share in connection with the PSUS initial public offering, giving him 200,000 shares owned directly after the transaction.

Insider Trade Summary

Net Buyer: 200,000 shares ($10,000,000)

Net Buy 1 txn

Insider Coussin Halit

Role Chief Compliance Officer

Bought 200,000 shs ($10.00M)

Type	Security	Shares	Price	Value
Purchase	Common Shares of Beneficial Interest	200,000	$50.00	$10.00M

Holdings After Transaction: Common Shares of Beneficial Interest — 200,000 shares (Direct, null)

Footnotes (1)

1. On April 30, 2026, Pershing Square Inc. ("PS") and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS common stock and (ii) an initial public offering (the "PSUS IPO") and a concurrent private placement of the Issuer's Common Shares of Beneficial Interest ("Common Shares"). Reflects the acquisition of Issuer Common Shares on April 30, 2026 in the PSUS IPO.

Key Figures

Shares purchased: 200,000 shares Purchase price: $50.00 per share Transaction value: $10.0M +1 more

4 metrics

Shares purchased 200,000 shares Common Shares of Beneficial Interest bought on April 30, 2026

Purchase price $50.00 per share Price paid for PSUS Common Shares in IPO-related acquisition

Transaction value $10.0M Approximate value of 200,000 shares at $50.00 each

Shares owned after transaction 200,000 shares Direct holdings following April 30, 2026 purchase

Key Terms

Common Shares of Beneficial Interest, initial public offering, concurrent private placement, PSUS IPO

4 terms

Common Shares of Beneficial Interest financial

"an initial public offering and a concurrent private placement of the Issuer's Common Shares of Beneficial Interest"

Common Shares of Beneficial Interest are units that represent ownership in a company or organization, like owning a piece of a pie. They give investors voting rights and a chance to share in profits, making them important for those looking to invest and have a say in how the organization is run.

initial public offering financial

"completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement"

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

concurrent private placement financial

"an initial public offering and a concurrent private placement of PS common stock"

A concurrent private placement is a sale of a company’s shares or bonds directly to a select group of investors that happens at the same time as another financing action or offering. Think of it as quietly selling a block of tickets to a few people while a larger ticket drive is underway; it raises cash quickly but can change ownership proportions, dilute existing shareholders and affect share price, so investors watch it as a sign of funding needs and potential value shifts.

PSUS IPO financial

"Reflects the acquisition of Issuer Common Shares on April 30, 2026 in the PSUS IPO."

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^*

Coussin Halit

(Last) (First) (Middle)

C/O PERSHING SQUARE CAPITAL MGMT., L.P.

787 ELEVENTH AVENUE, 9TH FLOOR

(Street)

NEW YORK NEW YORK 10019

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Pershing Square USA, Ltd. [ PSUS ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Compliance Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026

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 of Beneficial Interest	04/30/2026		P(1)(2)		200,000	A	$50	200,000	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

Explanation of Responses:

1. On April 30, 2026, Pershing Square Inc. ("PS") and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS common stock and (ii) an initial public offering (the "PSUS IPO") and a concurrent private placement of the Issuer's Common Shares of Beneficial Interest ("Common Shares").

2. Reflects the acquisition of Issuer Common Shares on April 30, 2026 in the PSUS IPO.

	By: /s/ Halit Coussin	05/01/2026
	** 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 Pershing Square USA (PSUS) report for Coussin Halit?

Pershing Square USA reported that Chief Compliance Officer Coussin Halit bought 200,000 Common Shares of Beneficial Interest on April 30, 2026. The shares were acquired at $50.00 each in connection with the PSUS IPO, resulting in 200,000 shares held directly afterward.

How many PSUS shares did Coussin Halit buy and at what price?

Coussin Halit purchased 200,000 Pershing Square USA Common Shares of Beneficial Interest at $50.00 per share. This Form 4 filing shows a single open-market style acquisition tied to the PSUS IPO, bringing his directly owned position to 200,000 shares after the transaction.

What is the total value of Coussin Halit’s PSUS share purchase?

Based on 200,000 shares at $50.00 each, Coussin Halit’s PSUS purchase represents about $10 million. The filing shows this buy occurred on April 30, 2026, in connection with the company’s initial public offering of Common Shares of Beneficial Interest.

Does the Form 4 show any PSUS share sales by Coussin Halit?

No sales are reported; the Form 4 only shows a purchase of 200,000 PSUS Common Shares of Beneficial Interest. After this acquisition on April 30, 2026, his directly held position stands at 200,000 shares, with no derivative securities listed in the filing’s derivative summary.

Was Coussin Halit’s PSUS share purchase related to the initial public offering?

Yes. A footnote explains the 200,000 PSUS Common Shares of Beneficial Interest reflect an acquisition completed on April 30, 2026 in the PSUS IPO. The transaction occurred alongside Pershing Square Inc. and PSUS initial public offerings and concurrent private placements.