Wolverine fund sells small stake in Four Leaf

Four Leaf Acquisition Corp large holders reported a small insider transaction involving its Class A Common Stock.

Rhea-AI Filing Summary

Four Leaf Acquisition Corp large holders reported a small insider transaction involving its Class A Common Stock. On 2025-10-14, Wolverine Flagship Fund Trading Limited executed an open-market sale of 20 shares at $12.22 per share.

After this sale, the fund holds 184,038 shares indirectly. Wolverine Asset Management, Wolverine Holdings, Wolverine Trading Partners, and individuals Robert Bellick and Christopher Gust may be deemed to beneficially own these securities through their roles but each disclaims beneficial ownership except for any pecuniary interest.

Insider Trade Summary

Net Seller: 20 shares

Net Sell 1 txn

Insider WOLVERINE ASSET MANAGEMENT LLC, Wolverine Holdings, L.P., Wolverine Trading Partners, Inc., Bellick Robert, Gust Christopher

Role 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner

Sold 20 shs ($244.40)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	20	$12.22	$244.40

Holdings After Transaction: Class A Common Stock — 184,038 shares (Indirect, by Wolverine Flagship Fund Trading Limited)

Footnotes (1)

1. F1. The Securities are held by Wolverine Flagship Fund Trading Limited (the "Fund"). Wolverine Asset Management, LLC ("WAM") is the manager of the Fund, the sole member and manager of WAM is Wolverine Holdings, L.P. ("WH"), and Robert R. Bellick and Christopher L. Gust may be deemed to control Wolverine Trading Partners, Inc., the general partner of WH. In such capacities, each of the Reporting Persons may be deemed to beneficially own the securities reported herein, but disclaims beneficial ownership of such securities except to the extent of its or his pecuniary interest in them.

FAQ

What insider transaction in FORL stock was reported in this Form 4?

The filing reports a small insider transaction in Four Leaf Acquisition Corp (FORL) stock. Wolverine Flagship Fund Trading Limited sold 20 shares of Class A Common Stock in an open-market trade at $12.22 per share on 2025-10-14.

Who actually sold the Four Leaf Acquisition Corp (FORL) shares?

The seller was Wolverine Flagship Fund Trading Limited, which directly holds the FORL shares. Related entities, including Wolverine Asset Management and Wolverine Holdings, are reporting persons and may be deemed beneficial owners but each disclaims ownership beyond its pecuniary interest in the securities.

How many FORL shares remain held after this insider sale?

After the open-market sale of 20 Class A FORL shares, 184,038 shares remain held indirectly by Wolverine Flagship Fund Trading Limited. This figure reflects the total Class A Common Stock position reported following the transaction on 2025-10-14 in the Form 4.

Was the FORL insider transaction a buy or a sell?

The reported FORL insider transaction was a sale. Wolverine Flagship Fund Trading Limited executed an open-market sale of 20 shares of Four Leaf Acquisition Corp Class A Common Stock at $12.22 per share, as disclosed with transaction code “S” for sale.

What ownership relationship exists between Wolverine entities and FORL shares?

The FORL shares are held by Wolverine Flagship Fund Trading Limited. Wolverine Asset Management manages the fund, Wolverine Holdings is its parent, and Wolverine Trading Partners is the general partner. Individuals Robert Bellick and Christopher Gust may control that general partner, with all parties disclaiming broader beneficial ownership.

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Accepted by SEC EDGAR 10/23/2025 - 11:24 AM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

WOLVERINE ASSET MANAGEMENT LLC

(Last) (First) (Middle)

175 WEST JACKSON

SUITE 340

(Street)

CHICAGO IL 60604

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Four Leaf Acquisition Corp [ FORL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/14/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/14/2025		S		20	D	$12.22	184,038	I	by Wolverine Flagship Fund Trading Limited(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

WOLVERINE ASSET MANAGEMENT LLC

(Last) (First) (Middle)

175 WEST JACKSON

SUITE 340

(Street)

CHICAGO IL 60604

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Wolverine Holdings, L.P.

(Last) (First) (Middle)

175 W. JACKSON BLVD.

SUITE 200

(Street)

CHICAGO IL 60604

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Wolverine Trading Partners, Inc.

(Last) (First) (Middle)

175 WEST JACKSON BLVD

SUITE 200

(Street)

CHICAGO IL 60604

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Bellick Robert

(Last) (First) (Middle)

175 W. JACKSON BLVD.

SUITE 200

(Street)

CHICAGO IL 60604

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Gust Christopher

(Last) (First) (Middle)

175 W. JACKSON BLVD.

SUITE 200

(Street)

CHICAGO IL 60604

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The Securities are held by Wolverine Flagship Fund Trading Limited (the "Fund"). Wolverine Asset Management, LLC ("WAM") is the manager of the Fund, the sole member and manager of WAM is Wolverine Holdings, L.P. ("WH"), and Robert R. Bellick and Christopher L. Gust may be deemed to control Wolverine Trading Partners, Inc., the general partner of WH. In such capacities, each of the Reporting Persons may be deemed to beneficially own the securities reported herein, but disclaims beneficial ownership of such securities except to the extent of its or his pecuniary interest in them.

	Kenneth Nadel, Chief Operating Officer of Wolverine Asset Management, LLC	10/23/2025
	Christopher L. Gust, Managing Director of Wolverine Holdings, L.P.	10/23/2025
	Christopher L. Gust, Authorized Signatory Wolverine Trading Partners, Inc.	10/23/2025
	Robert R. Bellick	10/23/2025
	Christopher L. Gust	10/23/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.