BP SPAC Sponsor II LLC (APAC) details 100,000 Class B share grant to directors
Rhea-AI Filing Summary
BP SPAC Sponsor II LLC, a 10% owner of StoneBridge Acquisition II Corp. (APAC), reported a change related to 100,000 Class B Ordinary Shares on February 5, 2026. The board approved an equity grant of these 100,000 Class B shares to four independent directors for their board and committee service.
The Class B shares were transferred by and from the Sponsor to the independent directors and will automatically convert into Class A Ordinary Shares at the time of the company’s initial business combination on a one-for-one basis, with no expiration date. Following the reported transaction, the Sponsor indirectly holds 991,667 Class B Ordinary Shares. Voting and investment discretion over the Sponsor’s Class B shares is held by Bhargav Marepally and Prabhu Antony, who each disclaim beneficial ownership beyond any pecuniary interest.
Positive
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class B Ordinary Shares | 100,000 | $0.00 | -- |
Footnotes (1)
- On, and effective, February 5, 2026, the board of directors (the "Board") of StoneBridge Acquisition II Corporation (the "Issuer") approved an equity grant of 100,000 Class B Ordinary Shares of the Issuer to four independent members of the Board for their respective services as members of the Board and committees of the Board. The Class B Shares were transferred by and from the Issuer's sponsor, StoneBridge Acquisition Sponsor II LLC (the "Sponsor"), to the four independent members of the Board. The Class B Ordinary Shares will automatically convert into Class A Ordinary Shares at the time of the Issuer's initial business combination on a one-for-one basis, subject to certain adjustments and have no expiration date. The shares were, and are, as applicable, directly held by the Sponsor. The reporting person is the sole managing member of the Sponsor. Bhargav Marepally and Prabhu Antony are the managing members of the reporting person, and have voting and investment discretion with respect to the Class B Ordinary Shares held directly by the Sponsor. Each of Mr. Marepally and Mr. Antony disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest each may have therein, directly or indirectly.