Hoffman Michael B 4

What Happened

• Michael B. Hoffman, Chairman, CEO and a Director of Translational Development Acquisition Corp. (TDAC), acquired 53,395 warrants (reported as a purchase/derivative) on May 27, 2026. The filing reports an aggregate/rounded cost of $42,278; a filing footnote gives exact proceeds of $42,280.50 and a weighted-average price of $0.7918438056 per warrant.
• This was a purchase (a bullish-type transaction in that the insider added derivative exposure), not a sale.

Key Details

• Transaction date: 2026-05-27 (Form 4 filed 2026-05-29 — appears timely under the two-business-day rule).
• Price(s): weighted-average $0.7918438056; actual purchase prices ranged from $0.71 to $0.9997 per warrant (multiple trades). Aggregate proceeds $42,280.50 (filing footnote).
• Security type: warrants (derivative). Footnote: each warrant becomes exercisable 30 days after the issuer completes its initial business combination and expires five years after that completion, subject to earlier redemption or liquidation per TDAC filings with the SEC.
• Shares/warrants owned after the transaction: not specified in the summary provided here — see the Form 4 for total holdings and any additional holdings disclosure.
• No special codes (e.g., 10b5-1, tax withholding) or late-filing flags were noted in the provided details.

Context

• These were warrant purchases (not purchases of common stock). Warrants give the holder the right to buy common shares in the future (here, exercisable after the SPAC's business combination), so this increases Hoffman's potential future exposure if he exercises them.
• For retail investors, insider purchases of derivatives like warrants show some level of confidence in the company's post-combination prospects but are not the same as buying common stock; exercise timing, redemption rights, and dilution effects matter. For full detail, review the Form 4 filing (accession 0001104659-26-068236) and TDAC’s SEC filings describing warrant terms.