Otero Rosiles Adrian 4

What Happened
Adrian Otero, CEO (indirectly through West Enclave Sponsor LLC), was involved in two transactions on 2026-05-01 tied to the issuer's IPO closing: a disposition of 1,380,000 founder shares (transferred to certain designees) for aggregate consideration of approximately $9,000 (≈ $0.0065 per share), and the acquisition of 127,500 ordinary shares included in private units purchased by the Sponsor at $10.00 per unit (127,500 units for $1,275,000). The acquisition reflects the Sponsor's private placement at IPO; the disposition reflects founder-share transfers at closing.

Key Details

• Date: 2026-05-01 (reported same day)
• Disposition: 1,380,000 founder shares transferred for ~ $9,000 total (~$0.0065/share) (Transaction code S)
• Acquisition: 127,500 ordinary shares embedded in 127,500 private units purchased at $10.00 per unit for $1,275,000 total (Transaction code P)
• Shares held after transaction: 127,500 ordinary shares are reported as held by West Enclave Sponsor LLC; Otero and Emilio Mahuad control the Sponsor and disclaim beneficial ownership except to the extent of any pecuniary interest.
• Footnotes: Private Units = 1 ordinary share + one-tenth of an ordinary share right; founder-share transfers were to certain designees (including allocations to independent director nominees).
• Timeliness: Filing lists transaction and report date as 2026-05-01 (no late filing indicated).

Context
These entries reflect IPO closing arrangements—not an open-market sale by the CEO to third-party investors. The founder-share transfers at nominal consideration are common in SPAC/sponsor structuring and allocations at IPO; the $1.275M reflects the Sponsor’s private placement purchase price of $10 per unit. Otero’s ownership is reported via the Sponsor vehicle rather than as direct, personal open-market trades.