Bulley David Robert 4

What Happened
David Robert Bulley, a director of Meridian3 Industrials Acquisition Corp (MIAC), reported multiple "other acquisition or disposition" (code J) transactions on 2026-07-06 involving derivative securities: Class B ordinary shares (convertible into Class A shares 1-for-1) and Private Placement Warrants. Transactions included acquisitions of 3,750,000 units at $1.00 each ($3,750,000), 250,000 units at $1.00 each ($250,000), and 793,750 units at $0.01 each ($3,969), and dispositions of 2,381,250 units at $0.01 each ($11,906) and 750,000 units at $1.00 each ($750,000). Net across these moves, Bulley acquired roughly $4.00M and disposed roughly $0.76M of derivative interests.

Key Details

• Transaction date: 2026-07-06; Form filed 2026-07-07 (timely).
• Reported trades (all coded J — "other acquisition or disposition"):
  • Disposed 2,381,250 @ $0.01 = $11,906 (derivative)
  • Acquired 793,750 @ $0.01 = $3,969 (derivative)
  • Acquired 3,750,000 @ $1.00 = $3,750,000 (derivative)
  • Disposed 750,000 @ $1.00 = $750,000 (derivative)
  • Acquired 250,000 @ $1.00 = $250,000 (derivative)
• Holdings after transactions (per filing footnotes): beneficially holds 793,750 Class B shares and 250,000 Private Placement Warrants via Meridian3 Capital SPC (jointly controlled), plus 25,000 Class B shares directly — total ~818,750 Class B-equivalents and 250,000 warrants.
• Notable footnotes:
  • Class B shares convert 1-for-1 into Class A shares at holder option or automatically on the company’s initial business combination.
  • Private Placement Warrants (priced at $1.00 when issued) each allow purchase of one Class A share at $11.50 (exercisable after a business combination; 5-year term, subject to adjustments).
  • Several transfers reflect allocations from the Sponsor and control through Meridian3 Capital SPC; Bulley disclaims beneficial ownership except to extent of pecuniary interest.

Context and investor takeaway: These were derivative transfers (Class B shares and private warrants), not open-market buys/sells of Class A stock. Purchases of derivative interests (notably the $1.00-per-unit items) increased Bulley’s economic stake; disposals were smaller by value. Derivative movements can reflect sponsor transfers or internal allocations rather than market-driven buying/selling, so interpret accordingly and pair with other filings for fuller context.