Vieser Jaime 4

What Happened
Director Jaime Vieser converted 478,010 Class B founder shares into Class A ordinary shares and those Class A shares were exchanged in connection with the SPAC business combination on June 11, 2026. The Form 4 reports a disposition (code D) of 478,010 shares to the issuer and an exercise/conversion (code M) of 478,010 derivative shares; no cash price or dollar value is reported (N/A). After these transactions the reporting person owns zero Class A and zero Class B ordinary shares of the issuer.

Key Details

• Transaction date: June 11, 2026. Form 4 filed June 15, 2026 (timely filing).
• Shares involved: 478,010 shares converted and disposed. Reported price/value: N/A (non-cash conversion/exchange).
• Shares owned after transaction: 0 Class A ordinary shares; 0 Class B ordinary shares.
• Relevant footnotes: Conversion governed by the issuer’s Form S-1 description of founder shares (one-for-one conversion rules). The Class B→Class A conversion and subsequent exchange were part of the Business Combination with Pubco (Avalanche Treasury Corporation).
• Filing Timeliness: Filed within the SEC’s two-business-day Form 4 window.

Context
This was not an open-market sale — it was a corporate conversion/exchange tied to the SPAC business combination, not a routine sale for cash. For derivative reporting: the "M" code reflects conversion/exercise of founder (Class B) shares into Class A shares; the "D" reflects the subsequent disposition/exchange of those Class A shares into Pubco common stock under the merger agreement. No cash proceeds or market-price sale were reported.