MMMK Development, Inc. 4

What Happened
MMMK Development, Inc. (reported as a 10% owner) converted 15,972 shares of Class B common stock into Class A common stock and sold those 15,972 Class A shares in the open market on April 9, 2026. The sales generated approximately $413,675 in proceeds. The filing shows the conversion (derivative conversion) at $0.00 and the subsequent disposal as an open-market sale at a weighted-average price of $25.90 per share.

Key Details

• Transaction date: April 9, 2026. Filing date: April 13, 2026 (timely within required Form 4 window).
• Shares converted: 15,972 Class B → Class A (conversion reported as Code C).
• Shares sold: 15,972 shares disposed (Code S) for aggregate proceeds of $413,675; weighted-average sale price $25.90. Reported sale prices ranged from $25.86 to $25.975.
• Plan/authorization: Sales were effected pursuant to a Rule 10b5-1 trading plan adopted May 29, 2025 (pre‑planned sales).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnote context: Class B shares are convertible into an equal number of Class A shares at the holder’s election with no expiration; the conversion and sale occurred on the same date.

Context
MMMK Development is a 10% owner (institutional holder), not an individual executive. The sale was executed under a pre-established 10b5-1 plan, which indicates the transactions were planned in advance rather than contemporaneous trading decisions. Sales by large shareholders can reflect portfolio management or liquidity needs; purchases are generally considered a stronger signal of insider bullishness.