Connor Michael J 4

What Happened

• Connor Michael J, a director of HCM IV Acquisition Corp. (HACQ), was assigned 25,000 Class B ordinary shares on February 11, 2026. The Form 4 reports the transaction as an "other acquisition" (Code J) at $0.00 per share, with a reported derivative value of $75.
• This was an assignment from the Sponsor in connection with Mr. Connor’s appointment to the company’s board (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-02-11; Filing date: 2026-02-18 (filed 7 days after the transaction; appears late relative to the usual 2-business-day Form 4 deadline).
• Reported price: $0.00 per share; reported total derivative value: $75.
• Shares acquired: 25,000 Class B ordinary shares (assigned by HCM Investor Holdings IV, LLC per a securities purchase agreement).
• Shares owned after transaction: not specified in the excerpt of the filing provided.
• Footnotes: F1 — Class B shares convert one-for-one into Class A ordinary shares upon the issuer’s initial business combination and may be forfeited under certain conditions related to Mr. Connor’s board service. F2 — Sponsor assigned the 25,000 Class B shares to Mr. Connor in connection with his board appointment.
• Transaction code: J = Other acquisition/disposition (here, an assignment).

Context

• These are Class B ordinary shares (convertible into Class A on a one-for-one basis at the time of the company’s initial business combination) and were assigned as part of board appointment arrangements; they are not a cash purchase or sale in the open market. Such assignments are commonly used for director compensation or sponsor arrangements and, by themselves, do not necessarily indicate a change in sentiment about the company.