Grinberg Paul 4

What Happened

• Paul Grinberg, a 10% owner and managing member of Mountain Lake Acquisition Sponsor II LLC (the Sponsor), reported a disposition of 6,000 Class B ordinary shares on 2026-03-16. The shares were returned to the issuer and cancelled for no consideration (price $0.00). The transaction is reported as a derivative "other acquisition or disposition" (code J) rather than an open-market sale.

Key Details

• Transaction date: 2026-03-16; Filing date: 2026-03-18 (filed two days after the transaction).
• Quantity and price: 6,000 Class B ordinary shares disposed/cancelled at $0.00.
• Shares owned after transaction: Not specified in the Form 4.
• Footnotes of note:
  • F1: Class B founder shares automatically convert one-for-one into Class A shares at the time (or before) an initial business combination; Class B shares have no expiration.
  • F2: The 6,000 Class B shares were returned and cancelled because the underwriters’ over‑allotment option was not exercised in full.
  • F3: Grinberg (with Douglas Horlick) is a managing member of the Sponsor and may be deemed to beneficially own shares held of record by the Sponsor, though they disclaim beneficial ownership except for any pecuniary interest.
• Timeliness: Filing appears timely (filed two days after the reported transaction).

Context

• This was not an open-market sale by the individual for cash but a cancellation/return of founder shares tied to IPO mechanics (over-allotment not exercised). For retail investors, such sponsor share cancellations are a corporate-structural item rather than a personal sale signaling insider sentiment.