25,000 Class B shares assigned to HCM IV (HACQU) director Michael J. Connor

Rhea-AI Filing Summary

HCM IV Acquisition Corp. director Michael J. Connor reported an “other” equity transaction involving 25,000 Class B ordinary shares. On February 11, 2026, the company’s sponsor, HCM Investor Holdings IV, LLC, assigned 25,000 Class B shares to Mr. Connor in connection with his appointment to the Board of Directors at a stated price of $0.003 per share.

The Class B ordinary shares are automatically convertible into Class A ordinary shares on a one-for-one basis at the time of the company’s initial business combination, subject to anti-dilution adjustments, and they have no expiration date. These Class B shares may be forfeited under certain circumstances related to Mr. Connor’s continued Board service.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Connor Michael J

Role Director

Type	Security	Shares	Price	Value
Other	Class B Ordinary Shares	25,000	$0.003	$75.00

Holdings After Transaction: Class B Ordinary Shares — 25,000 shares (Direct)

Footnotes (1)

1. The Class B ordinary shares are automatically convertible into the shares of the Issuer's Class A ordinary shares at the time of the Issuer's initial business combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, and have no expiration date. The Class B ordinary shares are subject to forfeiture under certain circumstances relating to Mr. Connor's service on the Issuer's Board of Directors. As contemplated by the securities purchase agreement between HCM Investor Holdings IV, LLC (the "Sponsor") and Mr. Connor, dated February 11, 2026, the Sponsor assigned 25,000 Class B ordinary shares to Mr. Connor in connection with Mr. Connor's appointment to the Issuer's Board of Directors.

Form 4 Insider Transactions: What Each Field Means →

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^*

Connor Michael J

(Last) (First) (Middle)

C/O HCM IV ACQUISITION CORP.

85 WASHINGTON STREET

(Street)

NORWALK CT 06854

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HCM IV Acquisition Corp. [ HACQ ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/11/2026

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

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

X	Form filed by One Reporting Person
	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

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)	02/11/2026		J(2)		25,000		(1)	(1)	Class A Ordinary Shares	25,000	$0.003	25,000	D

Explanation of Responses:

1. The Class B ordinary shares are automatically convertible into the shares of the Issuer's Class A ordinary shares at the time of the Issuer's initial business combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, and have no expiration date. The Class B ordinary shares are subject to forfeiture under certain circumstances relating to Mr. Connor's service on the Issuer's Board of Directors.

2. As contemplated by the securities purchase agreement between HCM Investor Holdings IV, LLC (the "Sponsor") and Mr. Connor, dated February 11, 2026, the Sponsor assigned 25,000 Class B ordinary shares to Mr. Connor in connection with Mr. Connor's appointment to the Issuer's Board of Directors.

	/s/ Michael J Connor, by Steven Bischoff with Power of Attorney	02/18/2026
	** 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.

FAQ

What insider transaction did HCM IV Acquisition Corp. (HACQU) report for Michael J. Connor?

HCM IV Acquisition Corp. reported an “other” equity transaction where 25,000 Class B ordinary shares were assigned to director Michael J. Connor. The shares came from the sponsor in connection with his appointment to the Board of Directors.

How many HCM IV Acquisition Corp. Class B shares were involved in Michael J. Connor’s Form 4?

The Form 4 shows 25,000 Class B ordinary shares were assigned to Michael J. Connor. These shares were transferred by the sponsor under a securities purchase agreement tied to his Board appointment and recorded at $0.003 per share.

Are HCM IV Acquisition Corp. Class B shares reported by Michael J. Connor convertible to Class A?

Yes. The filing states the Class B ordinary shares are automatically convertible into Class A ordinary shares on a one-for-one basis at the time of the company’s initial business combination, subject to specified anti-dilution adjustments.

Do the Class B shares reported by Michael J. Connor on Form 4 have an expiration date?

No. The Form 4 explains the Class B ordinary shares have no expiration date. They remain outstanding until converted into Class A shares at the initial business combination or otherwise forfeited under specified conditions tied to Board service.

Under what circumstances can Michael J. Connor’s HCM IV Acquisition Corp. Class B shares be forfeited?

The filing notes that the Class B ordinary shares may be forfeited under certain circumstances relating to Mr. Connor’s service on the Board of Directors. If those conditions are triggered, some or all of the awarded Class B shares could be lost.

Who transferred the 25,000 HCM IV Acquisition Corp. Class B shares to Michael J. Connor?

The shares were assigned by HCM Investor Holdings IV, LLC, the company’s sponsor. The transfer of 25,000 Class B ordinary shares to Mr. Connor was contemplated by a securities purchase agreement dated February 11, 2026, linked to his Board appointment.