Plum Acquisition (PLMK) CEO Roy Kanishka Converts Founder Shares

What Happened
Roy Kanishka, Chairman and CEO of Plum Acquisition Corp. IV (PLMK), reported derivative- and sponsor-related transactions. The filing shows a conversion on 2026-07-09 of 5,649,999 Class B founder shares into Class A ordinary shares (a non‑cash conversion recorded at $0.00). The filing also reports a prior 2025-04-25 transfer of 25,000 Class B shares by the sponsor for director services (reported as a disposition at $0.00).

Key Details

• Principal transactions:
  • 2026-07-09: Conversion of 5,649,999 Class B shares into Class A shares (derivative conversion; transaction recorded at $0.00). [code C]
  • 2026-07-09: Corresponding reported disposition entry for 5,649,999 shares at $0.00 (derivative).
  • 2025-04-25: Transfer of 25,000 Class B shares by the sponsor for director services (reported as disposition at $0.00). [code J]
• No cash proceeds were reported for these entries—these were conversions/transfers, not market sales.
• Post-transaction beneficial ownership: the filing indicates these securities are held directly by Plum Partners IV, LLC (the Sponsor). Kanishka is the Sponsor’s managing member and may be deemed to have beneficial ownership but expressly disclaims beneficial ownership except to the extent of any pecuniary interest (footnote).
• Footnotes of note:
  • Class B shares convert into Class A shares (one-for-one or adjusted) after a business combination or earlier by holder election.
  • The 25,000-share transfer was to Aidin Aghamiri for director services.
  • The reported Class B shares were converted into Class A shares pursuant to an election by the Sponsor.
• Timeliness: The Form 4 was filed on 2026-07-13 for a reported 2025-04-25 transaction period and transactions on 2026-07-09, so the filing is late (marked L). Late Form 4s do not necessarily reflect misconduct but reduce real-time transparency and can be subject to SEC attention.

Context

• These entries reflect sponsor/founder share conversions and a services transfer—not open-market buying or selling. Conversions from founder (Class B) to public (Class A) shares are administrative and common around SPAC business-combination activity; they are recorded at $0 because no cash changed hands.
• Because the shares are held by the Sponsor entity, Kanishka’s reported interest is primarily through his role with the Sponsor rather than direct individual open-market trading.