TSMC (NYSE: TSM) VP buys shares and holds equity-linked notes

Rhea-AI Filing Summary

TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD VP Bor-Zen Tien reported open-market purchases of 62 Common Shares (2330.TW) at an average price of $57.87 per share. The shares were bought indirectly, 53 through the company’s Employee Stock Purchase Plan (ESPP) trust and 9 for an immediate family member who is a TSMC employee.

After these transactions, disclosed holdings include 9,051 Common Shares held directly, 101 Common Shares held via the ESPP trust, and 53 Common Shares held for the immediate family member. Tien also holds Equity Linked Notes with a principal amount of $20,000 referencing a basket that includes up to 71 TSM American Depositary Shares, with a strike price of $278.8973 per ADS and an expiration on June 3, 2026. Each ADS represents five Common Shares.

Insider Trade Summary

Net Buyer: 62 shares ($3,588)

Net Buy 5 txns

Insider Tien Bor-Zen

Role VP

Bought 62 shs ($4K)

Type	Security	Shares	Price	Value
Purchase	Common Shares (2330.TW)	53	$57.87	$3K
Purchase	Common Shares (2330.TW)	9	$57.87	$520.83
holding	Equity Linked Notes	--	--	--
holding	Common Shares (2330.TW)	--	--	--
holding	American Depositary Shares (TSM)	--	--	--

Holdings After Transaction: Common Shares (2330.TW) — 101 shares (Indirect, By ESPP Trust); Equity Linked Notes — 71 shares (Direct); Common Shares (2330.TW) — 9,051 shares (Direct); American Depositary Shares (TSM) — 70 shares (Direct)

Footnotes (1)

1. Each American Depositary Share represents five (5) Common Shares. Common Shares purchased by the administrator of the issuer's Employee Stock Purchase Plan ("ESPP") on behalf of the filer pursuant to terms predetermined by the issuer. The price was translated from the average purchase price of NT$1,837.2789 in New Taiwan dollars, at the rate of NT$31.748 to US$1. Common Shares purchased and held under the issuer's Employee Stock Purchase Plan ("ESPP"). Common Shares purchased by the administrator of the issuer's Employee Stock Purchase Plan ("ESPP") on behalf of the filer's Immediate Family Member, who is a TSMC employee, pursuant to terms predetermined by the issuer. 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 7] [Continued from footnote 6] 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.

Key Figures

Common Shares purchased: 62 shares Purchase price per share: $57.87 per share Direct Common Share holdings: 9,051 shares +5 more

8 metrics

Common Shares purchased 62 shares Open-market purchases on April 9, 2026 (indirect via ESPP trust and family member)

Purchase price per share $57.87 per share Average price for Common Shares (translated from NT$1,837.2789 at NT$31.748/US$1)

Direct Common Share holdings 9,051 shares Common Shares (2330.TW) held directly after transactions on April 9, 2026

ESPP trust holdings 101 shares Common Shares held via ESPP trust after the reported purchases

Immediate family holdings 53 shares Common Shares held for immediate family member after the reported purchase

Equity Linked Notes principal $20,000 Principal amount of notes referencing a basket including TSM ADS

Underlying ADS from notes Up to 71 ADS Maximum TSM American Depositary Shares deliverable at $278.8973 strike price

Equity Linked Notes expiration June 3, 2026 Exercisable date and expiration for the Equity Linked Notes

Key Terms

Employee Stock Purchase Plan, Equity Linked Notes, American Depositary Shares, strike price, +1 more

5 terms

Employee Stock Purchase Plan financial

"Common Shares purchased by the administrator of the issuer's Employee Stock Purchase Plan ("ESPP") on behalf of the filer"

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"

American Depositary Shares financial

"The Equity Linked Notes ... include the issuer's American Depositary Shares"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

strike price financial

"The strike price for each basket component equals 72.30% of its initial reference level"

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.

worst-performing basket component financial

"If the issuer's American Depositary Shares are determined to be the worst-performing basket component"

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^*

Tien Bor-Zen

(Last) (First) (Middle)

NO. 8, LI-HSIN ROAD 6

HSINCHU SCIENCE PARK

(Street)

HSINCHU TAIWAN 300096

(City) (State) (Zip)

TAIWAN

(Country)

2. Issuer Name and Ticker or Trading Symbol
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD [ TSM ]

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

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

2a. Foreign Trading Symbol
[2330.TW]

3. Date of Earliest Transaction (Month/Day/Year)
04/09/2026

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 (2330.TW)								9,051	D
American Depositary Shares (TSM)(1)								70	D
Common Shares (2330.TW)	04/09/2026(2)		P	V	53	A	$57.87(3)	101(4)	I	By ESPP Trust
Common Shares (2330.TW)	04/09/2026(5)		P	V	9	A	$57.87(3)	53	I	By Immediate Family Member

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
Equity Linked Notes	(6)(7)							(6)(7)	06/03/2026	American Depositary Shares (TSM)(1)(6)(7)	71(6)(7)		20,000(6)(7)	D

Explanation of Responses:

1. Each American Depositary Share represents five (5) Common Shares.

2. Common Shares purchased by the administrator of the issuer's Employee Stock Purchase Plan ("ESPP") on behalf of the filer pursuant to terms predetermined by the issuer.

3. The price was translated from the average purchase price of NT$1,837.2789 in New Taiwan dollars, at the rate of NT$31.748 to US$1.

4. Common Shares purchased and held under the issuer's Employee Stock Purchase Plan ("ESPP").

5. Common Shares purchased by the administrator of the issuer's Employee Stock Purchase Plan ("ESPP") on behalf of the filer's Immediate Family Member, who is a TSMC employee, pursuant to terms predetermined by the issuer.

6. 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 7]

7. [Continued from footnote 6] 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.

Remarks:

	/s/ Jen-Chau Huang, as attorney-in-fact	04/13/2026
	** 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 did TSM VP Bor-Zen Tien buy in this Form 4 filing for TSM?

Bor-Zen Tien reported indirect open-market purchases of 62 TSMC Common Shares (2330.TW). 53 shares were bought through the Employee Stock Purchase Plan trust and 9 shares were purchased for an immediate family member who is also a TSMC employee.

At what price were the TSM shares purchased in Bor-Zen Tien’s Form 4?

The reported purchases were made at an average price of $57.87 per share. A footnote explains this reflects translation from an average price of NT$1,837.2789 using an exchange rate of NT$31.748 to US$1 for the Common Shares bought.

How many TSM shares does Bor-Zen Tien hold after these transactions?

After these transactions, disclosed holdings include 9,051 TSMC Common Shares held directly, 101 Common Shares held through the ESPP trust, and 53 Common Shares held for an immediate family member. These figures reflect the positions shown as of the reported transaction date.

What are the Equity Linked Notes related to TSM held by Bor-Zen Tien?

Tien holds Equity Linked Notes with a principal amount of $20,000 issued by Goldman Sachs International. They reference a basket of equities including TSM American Depositary Shares and may settle in up to 71 TSM ADS, depending on performance at expiration.

When do Bor-Zen Tien’s Equity Linked Notes tied to TSM ADS expire?

The Equity Linked Notes referencing TSM American Depositary Shares are exercisable and expire on June 3, 2026. On that date, settlement terms depend on the closing price of the worst-performing basket component relative to its strike price under the note’s conditions.

How are TSM American Depositary Shares related to TSM Common Shares in this filing?

Each TSM American Depositary Share (ADS) represents five Common Shares. The Equity Linked Notes may settle in up to 71 ADS, and this relationship is explicitly stated, linking the ADS position to an equivalent number of underlying Common Shares in the company.