Graf Global director converts 30,000 Class B shares

Graf Global Corp. director Fred S. Zeidman converted 30,000 Class B Ordinary Shares into 30,000 Class A Ordinary Shares on June 18, 2026 on a one-for-one basis for no consideration.

Rhea-AI Filing Summary

Graf Global Corp. director Fred S. Zeidman converted 30,000 Class B Ordinary Shares into 30,000 Class A Ordinary Shares on June 18, 2026 on a one-for-one basis for no consideration. After the conversion, he holds 30,000 Class A Ordinary Shares directly and no Class B shares.

Insider Trade Summary

30,000 shares exercised/converted

Exercise 2 txns

Insider ZEIDMAN FRED S

Role Director

Type	Security	Shares	Price	Value
Conversion	Class B Ordinary Shares	30,000	$0.00	$0.00
Conversion	Class A Ordinary Shares	30,000	$0.00	$0.00

Holdings After Transaction: Class B Ordinary Shares — 0 contracts (Direct); Class A Ordinary Shares — 30,000 shares (Direct)

Footnotes (2)

1. F1. On June 18, 2026, the Reporting Person elected to convert 30,000 Class B ordinary shares, par value $0.0001 per share ("Class B Ordinary Shares") of Graf Global Corp. (the "Issuer") held by the Reporting Person into Class A ordinary shares of the Issuer, par value $0.0001 ("Class A Ordinary Shares") on a one-for-one basis for no consideration.
2. F2. The Class B Ordinary Shares are convertible into Class A Ordinary Shares on a one-for-one basis (i) at the Reporting Person's election and (ii) automatically at the time of the closing of the Issuer's initial business combination, in each case subject to adjustment pursuant to certain anti-dilution rights, and have no expiration date.

Key Figures

Shares converted: 30,000 shares Conversion ratio: 1-for-1 Consideration per share: $0.0000 per share +2 more

5 metrics

Shares converted 30,000 shares Class B Ordinary Shares converted into Class A on June 18, 2026

Conversion ratio 1-for-1 Class B Ordinary Shares to Class A Ordinary Shares

Consideration per share $0.0000 per share Reported transaction price for the conversion

Class A shares held after 30,000 shares Direct holdings after conversion

Class B shares held after 0 shares Balance of Class B Ordinary Shares following conversion

Key Terms

Class B Ordinary Shares, Class A Ordinary Shares, initial business combination, anti-dilution rights, +1 more

5 terms

Class B Ordinary Shares financial

"convert 30,000 Class B ordinary shares, par value $0.0001 per share"

Class B ordinary shares are a type of ownership stake in a company that typically come with different voting rights or privileges compared to other share classes. For investors, they represent a way to hold part of the company’s value and influence its decisions, often with fewer voting rights than Class A shares. Understanding these shares helps investors assess their level of control and potential returns within a company.

Class A Ordinary Shares financial

"into Class A ordinary shares of the Issuer, par value $0.0001"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

initial business combination financial

"automatically at the time of the closing of the Issuer's initial business combination"

An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.

anti-dilution rights financial

"subject to adjustment pursuant to certain anti-dilution rights, and have no expiration date"

Conversion of derivative security financial

"transaction_code_description": "Conversion of derivative security""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Graf Global Corp. (GRAF) disclose in this Form 4?

Graf Global Corp. reported that director Fred S. Zeidman converted 30,000 Class B Ordinary Shares into 30,000 Class A Ordinary Shares. The conversion occurred on a one-for-one basis for no consideration, meaning no cash changed hands in the transaction.

How many Graf Global (GRAF) shares were involved in Fred S. Zeidman’s conversion?

Fred S. Zeidman converted 30,000 Class B Ordinary Shares into 30,000 Class A Ordinary Shares. The transaction was recorded at a price of $0.0000 per share, reflecting an internal share conversion rather than an open-market purchase or sale.

What are Graf Global’s Class B Ordinary Shares and how are they convertible?

Graf Global’s Class B Ordinary Shares are convertible into Class A Ordinary Shares on a one-for-one basis. Conversion can occur at the reporting person’s election or automatically at the closing of the issuer’s initial business combination, subject to adjustment under specified anti-dilution rights.

Did Fred S. Zeidman buy or sell Graf Global (GRAF) shares in the market?

Fred S. Zeidman did not buy or sell shares in the open market. He converted 30,000 Class B Ordinary Shares into Class A Ordinary Shares for no consideration, which is reported as a conversion of a derivative security rather than a market transaction.

What is Fred S. Zeidman’s Graf Global share position after this Form 4 transaction?

After the conversion, Fred S. Zeidman directly holds 30,000 Class A Ordinary Shares of Graf Global. His Class B Ordinary Share balance reported in this filing is zero, reflecting that the 30,000 Class B shares were fully converted into Class A shares.

Do Graf Global Class B Ordinary Shares have an expiration date?

The filing states that Graf Global’s Class B Ordinary Shares have no expiration date. They are convertible into Class A Ordinary Shares either at the holder’s election or automatically at the closing of the issuer’s initial business combination, subject to anti-dilution adjustments.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/22/2026 - 04:44 PM EDT 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^*

ZEIDMAN FRED S

(Last) (First) (Middle)

C/O GRAF GLOBAL CORP.

1790 HUGHES LANDING BLVD. SUITE 400

(Street)

THE WOODLANDS TEXAS 77380

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Graf Global Corp. [ GRAF ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2026

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

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

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

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 Ordinary Shares	06/18/2026		C		30,000(1)	A	(1)	30,000	D

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
Class B Ordinary Shares	(1)	06/18/2026		C			30,000	(2)	(2)	Class A Ordinary Shares	30,000	$0.00(1)	0	D

Explanation of Responses:

1. On June 18, 2026, the Reporting Person elected to convert 30,000 Class B ordinary shares, par value $0.0001 per share ("Class B Ordinary Shares") of Graf Global Corp. (the "Issuer") held by the Reporting Person into Class A ordinary shares of the Issuer, par value $0.0001 ("Class A Ordinary Shares") on a one-for-one basis for no consideration.

2. The Class B Ordinary Shares are convertible into Class A Ordinary Shares on a one-for-one basis (i) at the Reporting Person's election and (ii) automatically at the time of the closing of the Issuer's initial business combination, in each case subject to adjustment pursuant to certain anti-dilution rights, and have no expiration date.

	/s/ Fred S. Zeidman	06/22/2026
	** 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.
* Form 4: SEC 1474 (03-26)