Sykes Paul 4

What Happened Paul Sykes, Chief Financial Officer of Apex Treasury Corp (APXT), was reported on Form 4 to have acquired 50,000 Class B ordinary shares on April 17, 2026. The transaction is listed as a derivative "other acquisition" (code J). The Form 4 shows a value of $7,500,000 (50,000 shares at $150.00 each), but a footnote to the filing states the shares were transferred by Apex Treasury Sponsor LLC to Mr. Sykes for $0.003 per share (total $150). These Class B shares are convertible into the issuer’s Class A ordinary shares (one-for-one at the time of a business combination), per the filing.

Key Details

• Transaction date: April 17, 2026; Form filed: April 21, 2026 (reports the April 17 transaction).
• Reported transaction: 50,000 Class B ordinary shares acquired (derivative), transaction code J.
• Reported value in table: $150.00 per share / $7,500,000 total — footnote states actual transfer price was $0.003 per share (total $150) from Apex Treasury Sponsor LLC.
• Footnote F1: Class B shares automatically convert to Class A shares at business combination (1:1, subject to anti-dilution).
• Footnote F2: Sponsor transferred the 50,000 Class B shares to Paul Sykes at $0.003 per share (same price sponsor paid).
• Shares owned after the transaction: not specified in the information provided.
• Timeliness: Form 4 filed April 21, 2026 for an April 17 transaction, which aligns with the usual two-business-day filing window.

Context

• This was not an open-market purchase but a transfer from the company sponsor to an insider; such transfers can reflect compensation, founder/sponsor arrangements, or other internal allocations rather than market-driven buying/selling. The Class B shares are convertible into public Class A shares upon a business combination, so the economic exposure depends on that future event.
• Because of the conflicting per-share values in the filing and the clarifying footnote, retail investors should rely on the footnote's stated transfer price ($0.003/share) when assessing the cash consideration actually paid by the insider.