Statement of Changes in Beneficial Ownership (Form 4)

FORM 4 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 that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * ACKMAN WILLIAM A 2. Issuer Name and Ticker or Trading Symbol PERSHING SQUARE INC. [PS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) CEO & Chairman (Last) (First) (Middle) C/O PERSHING SQUARE INC.,, 787 ELEVENTH AVENUE, 9TH FLOOR 3. Date of Earliest Transaction (Month/Day/Year) 08/17/2026 (Street) NEW YORK, NY 10019 4. If Amendment, Date Original Filed (Month/Day/Year) 6. Individual or Joint/Group Filing (Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) 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 Stock 08/17/2026 G(1)(2) 10,000,000 D $ 0 66,825,763 I See footnote(3) Common Stock 1,500,000 D Common Stock 16,000,000 I See footnote(4) Common Stock 168,200 I See footnotes(5)(7) Common Stock 314,729 I See footnotes(6)(7)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities (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 of Derivative Security: 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

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
ACKMAN WILLIAM A C/O PERSHING SQUARE INC., 787 ELEVENTH AVENUE, 9TH FLOOR NEW YORK, NY 10019	X	X	CEO & Chairman
WAA Management LLC 787 11TH AVENUE 9TH FLOOR NEW YORK, NY 10019		X

Signatures

By: /s/ William A. Ackman		08/19/2026
**Signature of Reporting Person		Date
By: WAA Management LLC, By: /s/ William A. Ackman, Manager		08/19/2026
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Reflects a bona fide gift by the Reporting Person for no consideration to The Ackman Oxman Institute ("AOI"), a charitable foundation of which the Reporting Person and his spouse serve as directors and whose shares over which the Reporting Person and his spouse share voting and investment power, which will continue to be reported on the Reporting Person's Section 13 filings. The gift is intended to support the long-term operations and charitable activities of AOI.
(2)	As required by the lock-up agreement between the Reporting Person and the representatives of the underwriters in connection with the initial public offering of Issuer common stock, AOI agreed in writing to be bound by the same restrictions set forth therein. The transfer restrictions under the Issuer's Articles of Incorporation were released with respect to, and no longer apply to, these gifted shares. The Reporting Person does not have any pecuniary interest in, and disclaims beneficial ownership of, shares of Issuer common stock held by AOI for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act").
(3)	Reflects shares directly held by WAA Management LLC, of which the Reporting Person is the sole manager.
(4)	Reflects shares directly held by a grantor retained annuity trust, of which the Reporting Person is the trustee.
(5)	Reflects shares directly held by a limited liability company that is wholly owned by the Reporting Person's spouse.
(6)	Reflects shares directly held by trusts for the benefit of, or whose beneficiaries include, the Reporting Person's family members.
(7)	The Reporting Person may be deemed to be the beneficial owner of these shares for purposes of Rule 16a-1(a) under the Exchange Act. The Reporting Person disclaims beneficial ownership of these shares, except to the extent of any pecuniary interest therein.

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