GOLDMAN SACHS & CO. LLC 4

What Happened
The Goldman Sachs Group, Inc. and its subsidiary Goldman Sachs & Co. LLC (reported as the “Reporting Persons”), executed a series of open‑market market‑making trades in Inflection Point Acquisition Corp. IV (BACQ) between Nov 28 and Dec 9, 2025. Across those dates they disposed of 4,872 Class A shares for about $52,707 (prices roughly $10.70–$11.00) and acquired 4,328 shares for about $46,773 (prices roughly $10.71–$11.00). These transactions were reported on a Form 4 filed Feb 26, 2026. These were market‑making trades (institutional activity), not an executive buying or selling personal stock.

Key Details

• Transaction dates and price ranges: Nov 28, Dec 5, Dec 8, Dec 9, 2025; prices about $10.70–$11.00.
• Aggregate volumes: 4,872 shares sold ($52.7k) and 4,328 shares purchased ($46.8k). Net ~544 shares sold.
• Shares owned after the reported trades: not specified in the summary provided here (see the filing/exhibit for post‑trade holdings).
• Footnotes: (F2) trades were effected by Goldman Sachs acting as a market maker in the ordinary course of business; (F1) Reporting Persons disclaim beneficial ownership except to extent of pecuniary interest; (F3) any Section 16(b) profits potentially recoverable will be remitted to the issuer.
• Filing timeliness: The Form 4 was filed ~3 months after the earliest trades (reporting period 11/28/2025, filed 02/26/2026) — marked late (transactionTimeliness = 'L').

Context

• These were institutional market‑making transactions by Goldman Sachs, not an insider executive trade; such activity is routine market liquidity provision and does not necessarily signal management sentiment.
• The filing notes that on Feb 5, 2026 the Reporting Persons ceased to be a greater‑than‑10% beneficial owner of BACQ.
• Retail investors should treat market‑maker buys/sells differently from executive purchases (which can be stronger signals); for full details and exact post‑trade holdings, review the original Form 4 and Exhibit 99.1.