Armada Sponsor III LLC 4

What Happened

• Armada Sponsor III LLC (a 10% owner / sponsor entity) reported a disposition of 345,083 Class B Ordinary Shares on Feb 19, 2026. The shares were forfeited for no consideration (not sold on the open market). The Form 4 was filed on Feb 23, 2026.
• No price or cash value is reported for this transaction because the shares were forfeited (derivative disposition, transaction code J).

Key Details

• Transaction date: Feb 19, 2026; Form 4 filed: Feb 23, 2026.
• Price / value: N/A — shares were forfeited for no consideration.
• Shares owned after transaction: Not specified in the filing.
• Footnotes:
  • F1: Class B Ordinary Shares have no expiration date and convert one-for-one into Class A Ordinary Shares at the issuer’s initial business combination (or earlier at the holder’s option).
  • F2: The forfeiture resulted from the underwriters’ partial exercise of the IPO over-allotment (overallotment option). The underwriters purchased additional public units and waived the unexercised portion of the option, triggering forfeiture of 345,083 Class B shares that were subject to forfeiture per the S-1.
• Transaction type: derivative disposition (code J). This was an administrative forfeiture tied to IPO overallotment mechanics, not an open-market sale.

Context

• This action reflects an automatic/contractual adjustment related to the underwriters’ over-allotment and the sponsor’s forfeiture provisions in the registration statement — it’s not a managerial insider selling stock into the market.
• As a 10% owner and sponsor entity, this filing represents institutional/structural ownership changes tied to the IPO mechanics rather than a personal trading signal.