[Form 4] TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD Insider Trading Activity
Rhea-AI Filing Summary
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD VP Bor-Zen Tien reported updated holdings and an early redemption of a derivative note. The filing shows indirect ownership of 53 Common Shares by an immediate family member and 101 Common Shares held through an Employee Stock Purchase Plan trust, plus direct holdings of 9,051 Common Shares and 70 American Depositary Shares.
The Equity Linked Notes, with a principal amount of US$20,000 and referencing a basket that includes the company’s American Depositary Shares, were redeemed early for cash on April 24, 2026, before their June 3, 2026 exercisable/expiration date. No open-market share purchases or sales are reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
Tien Bor-Zen
Role
VP
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| H | Equity Linked Notes | 20,000 | $0.00 | -- |
| holding | Common Shares (2330.TW) | -- | -- | -- |
| holding | American Depositary Shares (TSM) | -- | -- | -- |
| holding | Common Shares (2330.TW) | -- | -- | -- |
| holding | Common Shares (2330.TW) | -- | -- | -- |
Holdings After Transaction:
Equity Linked Notes — 0 shares (Direct);
Common Shares (2330.TW) — 9,051 shares (Direct);
American Depositary Shares (TSM) — 70 shares (Direct);
Common Shares (2330.TW) — 101 shares (Indirect, By ESPP Trust)
Footnotes (1)
- Each American Depositary Share represents five (5) Common Shares. Common Shares purchased and held under the issuer's Employee Stock Purchase Plan ("ESPP"). The Equity Linked Notes are issued by Goldman Sachs International that reference a basket of equity securities that includes the issuer's American Depositary Shares. The principal amount of the notes is US$20,000. The notes are exercisable and expire on June 3, 2026 (the "Exercisable Date"). Under the terms of the notes, if the notes are not redeemed early and the closing price of the worst-performing basket component is below its strike price on the Exercisable Date, the notes may be settled by delivery of shares or American Depositary Shares of that worst-performing basket component plus cash in lieu of any fractional share. [Continued in footnote 4] [Continued from footnote 3] The strike price for each basket component equals 72.30% of its initial reference level. If the issuer's American Depositary Shares are determined to be the worst-performing basket component, settlement may result in delivery of up to 71 American Depositary Shares of the issuer at a strike price of US$278.8973 per American Depositary Share. In addition, the notes may be redeemed for cash, (i) if, during the observation period prior to the Exercisable Date, the closing price of each basket component has reached its initial reference level at least once, or (ii) if the notes are not redeemed early and the closing price of the worst-performing basket component is at or above its strike price on the Exercisable Date. [Continued in footnote 5] [Continued from footnote 4] On April 24, 2026, during the observation period prior to the Exercisable Date, the notes were redeemed early for cash.
Key Figures
Equity Linked Notes principal: US$20,000
Potential ADS delivery: 71 American Depositary Shares
Strike price per ADS: US$278.8973 per ADS
+5 more
8 metrics
Equity Linked Notes principal
US$20,000
Principal amount of notes referencing TSM ADS
Potential ADS delivery
71 American Depositary Shares
Maximum TSM ADS deliverable at strike terms
Strike price per ADS
US$278.8973 per ADS
Strike for issuer’s ADS if worst-performing basket component
Strike as % of initial level
72.30%
Strike price equals 72.30% of initial reference level
Notes expiration date
June 3, 2026
Exercisable and expiration date of Equity Linked Notes
Direct Common Shares
9,051 shares
Common Shares held directly by Bor-Zen Tien
Direct ADS holdings
70 ADS
American Depositary Shares held directly
Indirect Common Shares
53 and 101 shares
Common Shares held by family member and ESPP trust
Key Terms
American Depositary Shares, Employee Stock Purchase Plan, Equity Linked Notes, initial reference level, +1 more
5 terms
Employee Stock Purchase Plan financial
"Common Shares purchased and held under the issuer's Employee Stock Purchase Plan ("ESPP")."
An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.
Equity Linked Notes financial
"The Equity Linked Notes are issued by Goldman Sachs International that reference a basket of equity securities that includes the issuer's American Depositary Shares."
initial reference level financial
"The strike price for each basket component equals 72.30% of its initial reference level."
strike price financial
"If the issuer's American Depositary Shares are determined to be the worst-performing basket component, settlement may result in delivery of up to 71 American Depositary Shares of the issuer at a strike price of US$278.8973 per American Depositary Share."
The strike price is the fixed price at which an option gives its holder the right to buy or sell an underlying stock. Think of it like a coupon that lets you transact at a pre-agreed price regardless of the market; for investors it determines whether an option will be profitable, influences potential gains or losses, and is a key factor in the option’s market value and risk profile.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did TSM VP Bor-Zen Tien report in this Form 4 filing?
Bor-Zen Tien reported his current holdings and an early cash redemption of Equity Linked Notes. The filing lists direct and indirect positions in Common Shares and American Depositary Shares, and confirms the derivative notes tied partly to TSM ADS were redeemed for cash before expiration.
What are the Equity Linked Notes mentioned in the TSM Form 4?
The Equity Linked Notes are instruments issued by Goldman Sachs International with a principal of US$20,000, referencing a basket of equities including TSM American Depositary Shares. They allowed potential share settlement depending on performance, but were ultimately redeemed early for cash instead of delivering any shares.
What does the Form 4 reveal about TSM’s Employee Stock Purchase Plan (ESPP)?
The filing notes that 101 Common Shares are held under TSM’s Employee Stock Purchase Plan through an ESPP trust. This indicates Tien has accumulated some of his stake by purchasing and holding shares via the company’s employee-focused share purchase program.