Company: TAK
Filing Date: 2025-06-25
Form Type: 20-F
Source: 0001395064-25-000095
Chunk: 277

Company: TAKEDA PHARMACEUTICAL CO LTD
Filing Date: 2025-06-25
Form: 20-F
Item: Item 19
Chunk 277
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530      5,956      —                                               —                

All PSARs were vested and expired as of March 31, 2024 and 2025. There was no intrinsic value of vested cash-settled share-based payments as of March 31, 2023.

F-73

Restricted stock units (RSUs)

The RSUs vest one third each year over a three-year

The following table summarizes the award activity related to the RSUs (the number of awards) (1 award represents 1 share of the Company’s common stock):

                                         For the Year Ended March 31                  
                                         2023                                         
  As of the beginning of the year                                            317,734  
  Forfeited/expired before vesting       ( 8,208)                                     
  Vested                                                                  ( 313,259)  
  Transfer from Equity-Settled ESOP                                            3,733  
  As of the end of the year              —                                            
 ──────────────────────────────────────────────────────────────────────────────────────

There is no

Cash-Settled LTIP Awards

As noted above, for purposes of restricted stock unit awards and performance stock units granted under the LTIP in countries where settlement in ADSs is not permissible due to legal, regulatory and/or administrative reasons, such grants are structured such that settlement is to be made in cash and accounted for as Cash-Settled LTIP Awards.

The following table summarizes the award activity related to the Cash-Settled LTIP Awards (the number of awards) ( 1

                                         For the Year Ended March 31                                                  
                                                                2023                                                  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  As of the beginning of the year                                            296,640         367,642         395,762  
  Granted                                                                    213,224         197,798         341,518  
  Forfeited/expired before vesting                                         ( 30,372)       ( 38,245)       ( 53,520)  
  Vested                                                                  ( 197,780)      ( 341,148)      ( 312,092)  
  Transfer from Equity-Settled LTIP                                           85,930         209,715                  
  As of the end of the year                                                  367,642         395,762         371,668  

The balance as of March 31, 2023, 202