Madero Rivero Hector 4

What Happened
Hector Madero, a director, is reported as acquiring an aggregate of 180,000 ordinary shares of West Enclave Merger Corp. on 2026-05-01. The reported shares consist of 20,000 ordinary shares included in private units purchased by Actinver at $10.00 per unit (20,000 units = $200,000) and 160,000 founder shares transferred by the Sponsor to Actinver for an aggregate consideration of approximately $1,043.48 (≈ $0.0065 per founder share). This filing is reported as a purchase (transaction code P); the price for the private units is stated, and the founder shares were transferred at nominal consideration.

Key Details

• Transaction date: 2026-05-01; filing date: 2026-05-01.
• Prices/values: 20,000 Private Units at $10.00/unit (aggregate $200,000); 160,000 founder shares transferred for ≈ $1,043.48 total (~$0.0065/share). Reported per-share price for the 160,000 founder shares is nominal.
• Shares reported: 180,000 ordinary shares recorded as held by Actinver Inversiones Alternativas, S.A. DE C.V. (Actinver).
• Beneficial ownership: Actinver is the record holder. Mr. Madero is Chairman of Actinver and controls its management; he disclaims beneficial ownership of Actinver’s shares except to the extent of any pecuniary interest (see footnote F2).
• Filing timeliness: The Form 4 was filed the same day as the reported transaction date (no late filing indicated).

Context
The 20,000 “Private Units” include one ordinary share plus a right to receive one-tenth of a share upon completion of an initial business combination (common SPAC unit structure). The 160,000 founder shares were transferred at a nominal price from the Sponsor to Actinver on the IPO closing. Because the shares are held by an institutional record holder (Actinver) and Mr. Madero disclaims beneficial ownership except for pecuniary interest, this transaction reflects holdings controlled by an entity he chairs rather than a direct personal open-market purchase.