Plum Acquisition (PLMK) Director Sahai Converts 25,000 Class B to Class A

What Happened
Sahai Avanish, a director of Plum Acquisition Corp. (PLMK), converted 25,000 Class B ordinary shares into 25,000 Class A ordinary shares on July 9, 2026. The Form 4 shows a derivative conversion (transaction code C) with an acquisition line for 25,000 shares and a corresponding disposition line recorded at $0.00 — the net effect was a share-class conversion, not a sale or cash transaction.

Key Details

• Transaction date: 2026-07-09. Form 4 filed: 2026-08-20 (filed late; typically Form 4 is due within 2 business days).
• Reported entries: conversion of 25,000 derivative/Class B shares to 25,000 Class A shares (code C). Disposition price recorded as $0.00.
• Shares owned after transaction: not reported on the Form 4.
• Footnotes:
  • F1: Class B shares automatically convert into Class A following a business combination or earlier at holder election; no expiration date.
  • F2: Shares were held by Karnavy Sahai Trust; the reporting person is trustee.
  • F3: The conversion was made pursuant to an election by the reporting person.
• Filing timeliness: This Form 4 was filed ~6 weeks after the transaction date, reducing the timeliness of disclosure.

Context
This was a conversion of share class (derivative conversion), not a market buy or sale — no cash proceeds and no immediate liquidity signal. For retail investors, conversions like this are administrative and do not by themselves indicate insider buying or selling intent.