S4E4 · Honeymoon States

The morning after Logan's death, Shiv learns from her doctor that an amniocentesis she had previously scheduled confirms a healthy pregnancy, while a sleep-deprived Kendall joins his family and Logan's close associates at Logan's apartment for his wake. Kendall is surprised to see Marcia upon arriving; she insists she and Logan remained in touch after their separation, speaking "intimately" every day. While the siblings reunite, Tom meets with Frank, Karl, and Gerri to discuss who to name interim CEO to the board later that day. Tom is quickly ruled out as an option; he later unsuccessfully attempts to curry favor with Kendall and Roman.

Roman declines a call from Matsson until the siblings are unified on their position regarding the GoJo acquisition. Upon calling Matsson back, however, the siblings are only able to reach his assistant Oskar Guðjohnsen, who tells them GoJo cannot call off their annual company retreat, and that the siblings will have to fly overseas the next day if they want to negotiate with Matsson directly. Connor, meanwhile, negotiates with Marcia to buy Logan's apartment for $63 million. Hugo later pulls Kendall aside and confides that his daughter Juliet sold her Waystar shares prior to news of Logan's death going public.

Frank finds a document in Logan's safe which appears to name Kendall as CEO upon his death; however, the document is undated, and it is unclear whether Kendall's name is underlined or crossed out. Frank, Karl and Gerri wish to dismiss the document as illegitimate, noting that Logan's choosing of a successor has no legal force, but decide to tell the siblings. Kendall is clearly taken aback by the news and privately laments to Frank that he regrets disappointing his father, but Frank comforts him. Roman and Shiv are dispirited at not being named successor, but agree that as Logan's children, they would prefer to have one of them leading the company rather than Logan's old guard. Tom takes Shiv aside to comfort her about Logan's death, and reminisces about their initial courtship. Shiv doesn't tell him about her pregnancy.

The family receives word that Jeryd Mencken wants to attend the wake, and conservative donor Ron Petkus makes a toast in Logan's honor; Stewy, Sandi, and her father arrive as well. Kerry arrives in tears to pick up some belongings from Logan's home, and discreetly tells Roman that she and Logan were discussing getting married. Marcia, however, has Kerry swiftly escorted out. Kendall finds his siblings unwilling to discuss the terms of his takeover, and asks Stewy to advocate on his behalf.

Kendall then has a sitdown with Shiv and Roman to talk leadership, and is receptive to their concerns regarding his competence. Roman recalls that Waystar's draft succession plan dictates that leadership be passed down to the COO - a title he currently holds. Kendall and Roman agree to run the company together, since Shiv lacks relevant experience, but promise the skeptical Shiv that they will involve her in all operational decisions. The siblings announce the decision to Waystar's senior executives, with Stewy present to endorse Kendall; the board approves the decision shortly thereafter. Shiv nonetheless feels dejected, and embarrasses herself when she trips and falls in front of other guests.

Hugo and Karolina pull aside Kendall and Roman to discuss the PR strategy for announcing their takeover. Given Kendall's string of company-related controversies, Hugo proposes that they draft a statement casting doubt on Logan's judgment in the time leading up to his death, even suggesting that they invoke sordid details such as his abusive parenting, to make it appear that his sons were already running the company toward the end of Logan's life. Roman is disgusted by the idea and immediately shuts it down. However, Kendall later approaches Hugo privately and uses his knowledge of his daughter's insider trading to blackmail Hugo into going ahead with the more aggressive PR strategy without Roman's or Karolina's knowledge. He argues that his father would have done the same.