Form 4: Wolverine Asset Management Reports FORL Purchases and 130‑Share Match
Rhea-AI Filing Summary
Wolverine Asset Management LLC and related reporting persons disclosed a series of purchases and one sale of Class A common stock of Four Leaf Acquisition Corp. The filings show purchases on 07/11/2025, 07/24/2025 and 07/28/2025 at prices of $11.57, $11.56 and $11.53, respectively, and a sale of 1,000 shares on 08/14/2025 at $11.67. After the reported purchases the beneficial ownership reported ranged around 184,630–185,530 shares, held indirectly by Wolverine Flagship Fund Trading Limited. The filing notes 130 shares are subject to short-swing matchability and that the reporting person agreed to pay $17.17 representing the profit realized on those short-swing transactions.
Positive
- Transparent disclosure of multiple transactions including prices and share counts
- Remediation of Section 16(b) short-swing profit by agreement to pay $17.17
Negative
- Short-swing matchable transactions occurred on 130 shares, triggering a required payment
Insights
TL;DR: Routine insider trading disclosure showing small-volume purchases and a matched short-swing profit payment; no material change to ownership.
The Form 4 reports three purchases at roughly $11.53–$11.57 and one sale of 1,000 shares at $11.67, with beneficial ownership after transactions between 184,630 and 185,530 shares held indirectly by a fund. The filing explicitly records a $17.17 payment to address a matched short-swing profit on 130 shares, indicating compliance with Section 16(b). Transaction sizes and the admitted short-swing amount are immaterial relative to typical company market caps; this appears to be routine reporting rather than a material shift in control.
TL;DR: Disclosure demonstrates proper reporting and remediation of a short-swing match; governance controls appear operational.
The disclosure names the reporting entities and explains the indirect ownership chain through Wolverine Flagship Fund Trading Limited and related entities, with a disclaimer of beneficial ownership beyond pecuniary interest. The explicit acknowledgement of the 130-share matchable amount and the agreed payment of $17.17 shows the reporting persons identified and remediated a Section 16(b) issue. The filing is procedural and transparent in identifying parties and relationships.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,000 | $11.67 | $12K |
| Purchase | Class A Common Stock | 100 | $11.53 | $1K |
| Purchase | Class A Common Stock | 17 | $11.56 | $196.52 |
| Purchase | Class A Common Stock | 13 | $11.57 | $150.41 |
Footnotes (1)
- The transactions reported in this Form 4 are matchable under Section 16(b) of the Exchange Act to the extent of 130 shares. The Reporting Person has agreed to pay to the Issuer $17.17, which represents the full amount of the profit realized in connection with these short-swing transactions under Section 16(b) of the Exchange Act. The Securities are held by Wolverine Flagship Fund Trading (the "Fund". Wolverine Asset Management, LLC is the manager of the Fund, the sole member and manager of Wolverine Asset Management, LLC is Wolverine Holdings, L.P., and Robert R. Bellick and Christopher L. Gust may be deemed to control Wolverine Trading Partners, Inc., the general partner of Wolverine Holdings, L.P. 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 therein.
