Churchill Capital Corp XIII: appoints Paul Lapping to the board

What happened The filing reported that on Oct 23, 2026 the board of directors appointed Paul Lapping as a director of the board, effective immediately. The board also appointed Mr. Lapping as a member of the compensation committee and the audit committee and as chairperson of the audit committee, replacing William Sherman, who will continue as a member of the audit committee. The filing says Mr. Lapping will serve as a member of the first class of directors, with that term expiring at the company’s first annual general meeting.

Key details

• Mr. Lapping, age 64, is Manager of Jakal Investments, LLC (founded 2005) and Manager of Green Pastures Management, LLC since Apr 2015.
• The filing lists prior SPAC directorships: Churchill Capital Corp IX (since Apr 2025), Churchill Capital Corp XI (since Mar 2026), Churchill Capital Corp XII (since Jul 2026), and director of Churchill Capital Corp X from Aug 2025 to Feb 2026.
• On Oct 23, 2026 the company entered into director agreements with William Sherman and Paul Lapping providing cash compensation of $75,000 per annum to each director, beginning Oct 1, 2026.
• Mr. Lapping signed a joinder to a letter agreement dated Jul 30, 2026 agreeing to waive certain redemption rights and to vote ordinary shares in favor of an initial business combination, and he entered into a director indemnity agreement.

Why it may matter The filing reports an Item 5.02 change in directors, which covers departures and elections of directors and certain officers, and reports related director compensation agreements. A filing does not show why the insider traded or why the company acted.