Lager Jeffrey Todd 4

What Happened

• Jeffrey Todd, a director of Mountain Lake Acquisition Corp. (MLAC), participated in the company's June 11, 2026 business-combination transactions. He surrendered 15,888 Class B (founder) ordinary shares for cancellation for no consideration, and 9,112 Class B shares were converted into 9,112 Class A ordinary shares and then exchanged into 9,112 shares of Pubco (Avalanche Treasury Corporation) common stock in connection with the SPAC merger. No per-share price or cash proceeds are reported (N/A).

Key Details

• Transaction date: June 11, 2026. Form filed June 15, 2026.
• Reported transactions: surrender/cancellation of 15,888 Class B shares (no consideration); conversion of 9,112 Class B → 9,112 Class A; exchange of those 9,112 Class A into 9,112 Pubco common shares.
• Prices/values: Not reported (N/A) — surrender was for no consideration; conversion/exchange were part of the business combination.
• Shares owned after transaction: 0 Class B ordinary shares; 0 Class A ordinary shares (per filing footnotes).
• Footnotes: Transactions were tied to the Business Combination Agreement (and sponsor support agreement) and the SPAC merger; founder shares convert one‑for‑one into Class A prior to or at the initial business combination.
• Filing timing: Form 4 was filed four days after the transactions; this appears to reflect routine reporting of the closing transactions (check timing relative to SEC filing rules if timeliness is a concern).

Context

• These actions were corporate-transaction driven (founder-share surrender and conversion in the SPAC/business-combination process), not open-market buys or sales. Such transactions reflect structural changes from the merger rather than trading for personal liquidity or investment signal.
• For clarity: the Class B founder shares typically convert into Class A at the deal closing; the converted Class A shares were then exchanged into Pubco common stock as part of the SPAC merger mechanics.