Mountain Lake Acquisition Sponsor LLC 4

What Happened
Mountain Lake Acquisition Sponsor LLC, the sponsor and a reported 10% owner of Mountain Lake Acquisition Corp. (MLAC), effected a disposition on 2026-06-01 consisting of a pro rata distribution of 2,781,776 Class B ordinary ("Founder") shares to its constituent members. This was a distribution (not an open-market sale) and no consideration was paid. The filing shows no per-share price or proceeds (derivative shares; price N/A).

Key Details

• Transaction date: 2026-06-01; Form 4 filed 2026-06-10 (appears later than the typical two-business-day Form 4 deadline).
• Transaction type/code: Other acquisition or disposition (J) — described as a pro rata Sponsor distribution.
• Shares distributed: 2,781,776 Class B ordinary shares; no cash paid.
• Shares held after transaction: Sponsor is the record holder of 4,355,724 Class B ordinary shares after the distribution (per footnote).
• Relevant footnotes: (F3) confirms the distribution was to the Sponsor's constituent members and no consideration was paid; (F1) names members (Paul Grinberg, Douglas Horlick, Jaime W. Vieser) and notes they may be deemed beneficial owners but disclaim ownership except to extent of pecuniary interest; (F2) Class B shares convert 1-for-1 into Class A ordinary shares at the time of an initial business combination (subject to adjustments).

Context
This was an internal reallocation/distribution of founder (Class B) shares by the sponsor to its members, not a sale into the market—such distributions do not directly indicate the market views of executives or a change in economic exposure. The Class B shares are convertible into Class A shares at a future business combination, so the distribution transfers future conversion rights among sponsor members rather than generating immediate liquidity.