Horlick Douglas 4
4 · Mountain Lake Acquisition Corp. · Filed Jun 4, 2026
Research Summary
AI-generated summary of this filing
Mountain Lake (MLAC) CFO Douglas Horlick Receives 478,010 Founder Shares
What Happened
Douglas Horlick, Mountain Lake Acquisition Corp.'s CFO, President and a director, received 478,010 Class B ordinary (founder) shares on 2026-06-01. The Form 4 reports this as an "other acquisition or disposition" (transaction code J); no purchase price or cash consideration was paid.
Key Details
- Transaction date: 2026-06-01; Form 4 filed: 2026-06-04 (filed one business day after the typical 2-business-day deadline).
- Shares involved: 478,010 Class B ordinary shares (founder shares). Price: N/A; reported as an acquisition via Sponsor distribution.
- Footnote F1: Shares were received in a pro rata distribution of assets by Mountain Lake Acquisition Sponsor LLC to its members; no consideration paid.
- Footnote F2: Class B shares convert into Class A ordinary shares on a one-for-one basis at the issuer's initial business combination (or earlier at the holder's option), subject to adjustments.
- Shares owned after the transaction: Not specified in the filing.
Context
These are founder (Class B) shares distributed by the sponsor rather than an open‑market purchase or options exercise. Founder shares typically convert into Class A shares at the time of a SPAC’s initial business combination; such distributions and conversions are structural/corporate events and do not, by themselves, indicate an insider’s trading view.
Insider Transaction Report
- Other
Class B ordinary shares, par value $0.0001 per share
[F1][F2]2026-06-01+478,010→ 478,010 total→ Class A ordinary shares (478,010 underlying)
Footnotes (2)
- [F1]Represents Class B ordinary shares of the Issuer received in a pro rata distribution of assets by Mountain Lake Acquisition Sponsor LLC (the "Sponsor") to its constituent members (the "Sponsor Distribution"). No consideration was paid in connection with the transaction reported herein.
- [F2]As described in the registration statement on Form S-1 (File No. 333-281410) of the Issuer under the heading "Description of Securities--Founder Shares," the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or at any time prior to the Issuer's initial business combination, at the option of the holder, on a one-for-one basis, subject to certain adjustments.