William A. Ackman - 28 Apr 2026 Form 4 Insider Report for PERSHING SQUARE INC. (PS)

Reporting relationship: CEO & Chairman, Director, 10%+ Owner
Issuer ticker: PS
Reported as of: 28 Apr 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 04 May 2026, 20:39:19 UTC
Prior SEC filing: 23 Apr 2026
Next SEC filing: 29 Apr 2026
Source filing: View source filing
Reporting owner signature: By: /s/ William A. Ackman

Key filing fact

William A. Ackman filed Form 4 for PERSHING SQUARE INC. (PS) on 04 May 2026.

Key facts

This page summarizes William A. Ackman's Form 4 filing for PERSHING SQUARE INC. (PS).
10 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 04 May 2026, 20:39.

Change

Previous filing in this sequence was filed on 23 Apr 2026.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (2)

CIK 0001056513 Primary reporting owner

ACKMAN WILLIAM A

Relationship: CEO & Chairman, Director, 10%+ Owner
Address: C/O PERSHING SQUARE INC., 787, ELEVENTH AVENUE, 9TH FLOOR, NEW YORK
Signature: By: /s/ William A. Ackman
Signature date: 04 May 2026

CIK 0002129701

WAA Management LLC

Relationship: 10%+ Owner
Address: 787 11TH AVENUE, 9TH FLOOR, NEW YORK
Signature: By: WAA Management LLC, By: /s/ William A. Ackman, Manager
Signature date: 04 May 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

PS transaction

Common Stock

Other

Transaction value
Shares: +700,000
Change %
Price
Shares after: 700,000
Date: 30 Apr 2026
Ownership: Direct
Footnotes: F1, F2

PS transaction

Common Stock

Other

Transaction value
Shares: +700,000
Change %
Price
Shares after: 700,000
Date: 30 Apr 2026
Ownership: Direct
Footnotes: F1, F2

PS transaction

Common Stock

Purchase

Transaction value
Shares: +81,762
Change %: +12%
Price: $22.61^*
Shares after: 781,762
Date: 30 Apr 2026
Ownership: Direct
Footnotes: F3, F4

PS transaction

Common Stock

Purchase

Transaction value
Shares: +81,762
Change %: +12%
Price: $22.61^*
Shares after: 781,762
Date: 30 Apr 2026
Ownership: Direct
Footnotes: F3, F4

PS transaction

Common Stock

Purchase

Transaction value
Shares: +659,540
Change %: +84%
Price: $23.88^*
Shares after: 1,441,302
Date: 30 Apr 2026
Ownership: Direct
Footnotes: F3, F5

PS transaction

Common Stock

Purchase

Transaction value
Shares: +659,540
Change %: +84%
Price: $23.88^*
Shares after: 1,441,302
Date: 30 Apr 2026
Ownership: Direct
Footnotes: F3, F5

PS transaction

Common Stock

Purchase

Transaction value
Shares: +58,698
Change %: +4.1%
Price: $24.20^*
Shares after: 1,500,000
Date: 30 Apr 2026
Ownership: Direct
Footnotes: F3, F6

PS transaction

Common Stock

Purchase

Transaction value
Shares: +58,698
Change %: +4.1%
Price: $24.20^*
Shares after: 1,500,000
Date: 30 Apr 2026
Ownership: Direct
Footnotes: F3, F6

PS transaction

Common Stock

Other

Transaction value
Shares: +168,200
Change %
Price
Shares after: 168,200
Date: 30 Apr 2026
Ownership: See footnotes
Footnotes: F1, F2, F7, F11

PS transaction

Common Stock

Other

Transaction value
Shares: +168,200
Change %
Price
Shares after: 168,200
Date: 30 Apr 2026
Ownership: See footnotes
Footnotes: F1, F2, F7, F11

PS transaction

Common Stock

Other

Transaction value
Shares: +4,240
Change %: +1.4%
Price
Shares after: 304,240
Date: 30 Apr 2026
Ownership: See footnotes
Footnotes: F1, F2, F8, F9, F11

PS transaction

Common Stock

Other

Transaction value
Shares: +4,240
Change %: +1.4%
Price
Shares after: 304,240
Date: 30 Apr 2026
Ownership: See footnotes
Footnotes: F1, F2, F8, F9, F11

PS transaction

Common Stock

Award

Transaction value
Shares: +10,489
Change %: +3.4%
Price
Shares after: 314,729
Date: 30 Apr 2026
Ownership: See footnotes
Footnotes: F1, F9, F10, F11

PS transaction

Common Stock

Award

Transaction value
Shares: +10,489
Change %: +3.4%
Price
Shares after: 314,729
Date: 30 Apr 2026
Ownership: See footnotes
Footnotes: F1, F9, F10, F11

PS transaction

Common Stock

Gift

Transaction value
Shares: -300,000
Change %: -0.36%
Price: $0.000000^*
Shares after: 83,700,000
Date: 28 Apr 2026
Ownership: See footnote
Footnotes: F8, F12

PS transaction

Common Stock

Gift

Transaction value
Shares: -300,000
Change %: -0.36%
Price: $0.000000^*
Shares after: 83,700,000
Date: 28 Apr 2026
Ownership: See footnote
Footnotes: F8, F12

PS transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -6,874,237
Change %: -8.2%
Price: $0.000000^*
Shares after: 76,825,763
Date: 30 Apr 2026
Ownership: See footnote
Footnotes: F1, F12, F13

PS transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -6,874,237
Change %: -8.2%
Price: $0.000000^*
Shares after: 76,825,763
Date: 30 Apr 2026
Ownership: See footnote
Footnotes: F1, F12, F13

PS holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 16,000,000
Date: 28 Apr 2026
Ownership: See footnote
Footnotes: F14

PS holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 16,000,000
Date: 28 Apr 2026
Ownership: See footnote
Footnotes: F14

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

PS transaction Derivative

M Units of Pershing Square Partner Group, LLC

Award

Transaction value
Shares: +92,878,204
Change %
Price
Shares after: 92,878,204
Date: 28 Apr 2026
Ownership: See footnote
Underlying class: Common Stock
Underlying amount: 86,493,537
Exercise price
Footnotes: F12, F15, F16, F17

PS transaction Derivative

M Units of Pershing Square Partner Group, LLC

Award

Transaction value
Shares: +92,878,204
Change %
Price
Shares after: 92,878,204
Date: 28 Apr 2026
Ownership: See footnote
Underlying class: Common Stock
Underlying amount: 86,493,537
Exercise price
Footnotes: F12, F15, F16, F17

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 17 footnotes

Footnote F1

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

Footnote F2

Reflects the acquisition of Issuer common stock in connection with the combined IPO. In connection with the PS IPO, each initial investor acquired 1 share of Issuer common stock for no additional consideration for every 5 PSUS Common Shares that the investor purchased in the PSUS IPO.

Footnote F3

The price reported in Column 4 is a weighted average price. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (4) through (6) in this Form 4.

Footnote F4

Reflects the acquisition of Issuer common stock through multiple open market transactions at prices ranging from $22.030 to $23.025, inclusive.

Footnote F5

Reflects the acquisition of Issuer common stock through multiple open market transactions at prices ranging from $23.030 to $24.005, inclusive.

Footnote F6

Reflects the acquisition of Issuer common stock through multiple open market transactions at prices ranging from $24.030 to $24.400, inclusive.

Footnote F7

Reflects Issuer common stock held by a limited liability company that is wholly owned by the Reporting Person's spouse.

Footnote F8

Reflects a contribution of 300,000 shares of Issuer common stock by the Reporting Person on April 28, 2026.

Footnote F9

Reflects Issuer common stock held by trusts for the benefit of, or whose beneficiaries include, the Reporting Person's family members.

Footnote F10

Reflects the acquisition of Issuer common stock in connection with the combined private placement. In connection with the PS Private Placement, each initial investor acquired 1.5 shares of Issuer common stock for no additional consideration for every 5 PSUS Common Shares that the investor purchased in the PSUS Private Placement.

Footnote F11

The Reporting Person may be deemed to be the beneficial owner of these shares for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Person disclaims beneficial ownership of these shares, except to the extent of any pecuniary interest therein.

Footnote F12

Reflects shares directly held by WAA Management LLC, of which the Reporting Person is the sole manager.

Footnote F13

Pursuant to the Amended and Restated Purchase Price Adjustment Agreement (the "A&R Purchase Price Adjustment Agreement") by and among the Issuer, Pershing Square Partner Group, LLC ("PSPG") and the other parties thereto (including the Reporting Person), PSPG and other parties thereto (including the Reporting Person) contributed Issuer common stock to the Issuer in an aggregate amount equal to the number of shares of Issuer common stock issued in connection with the combined transaction. Each party's contribution ("Purchase Price Adjustment Contribution") corresponds to such party's pro rata share of the aggregate number of shares of Issuer common stock held by the parties as of immediately prior to the completion of the combined transaction.

Footnote F14

Reflects shares directly held a grantor retained annuity trust, of which the Reporting Person is the trustee.

Footnote F15

These M Units ("M Units") of PSPG were granted to the Reporting Person pursuant to an amendment of PSPG's governing document on a pro rata basis of the Reporting Person's prior interest in PSPG on April 28, 2026. These M Units are fully vested. The grant was approved by the board of directors of the Issuer in accordance with Rule 16b-3 under the Exchange Act.

Footnote F16

Upon vesting, each M Unit may be redeemed by the holder, subject to certain conditions, for shares of Issuer common stock held by PSPG on a one-for-one basis, subject to certain adjustments pursuant to the terms approved by the board of directors of the Issuer. These redemption rights do not expire.

Footnote F17

Reflects the pro rata adjustment, pursuant to PSPG's governing document in connection with its Purchase Price Adjustment Contribution, of the number of shares of Issuer common stock for which each M Unit may be redeemed.