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  4. [Form 4] IB Acquisition Corp. Insider Trading Activity

AQR funds trim IB Acquisition (IBAC) stake with open-market stock sales

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

IB Acquisition Corp. reported that investment funds managed by AQR-related entities sold common stock in the open market. On October 1, 2025, these funds disposed of a total of 29,821 shares of IB Acquisition common stock at a price of $10.50 per share. All transactions involved indirect ownership through various AQR-managed limited partnerships and funds, such as AQR Global Alternative Investment Offshore Fund, L.P. and AQR Diversified Arbitrage Fund.

Positive

  • None.

Negative

  • None.
Insider AQR Capital Management Holdings, LLC, AQR CAPITAL MANAGEMENT LLC, AQR Arbitrage LLC
Role 10% Owner | 10% Owner | 10% Owner
Sold 29,821 shs ($313K)
Type Security Shares Price Value
Sale Common Stock 12,203 $10.50 $128K
Sale Common Stock 4,964 $10.50 $52K
Sale Common Stock 3,550 $10.50 $37K
Sale Common Stock 2,643 $10.50 $28K
Sale Common Stock 2,335 $10.50 $25K
Sale Common Stock 2,218 $10.50 $23K
Sale Common Stock 917 $10.50 $10K
Sale Common Stock 554 $10.50 $6K
Sale Common Stock 200 $10.50 $2K
Sale Common Stock 143 $10.50 $2K
Sale Common Stock 94 $10.50 $987.00
Holdings After Transaction: Common Stock — 363,713 shares (Indirect, AQR Global Alternative Investment Offshore Fund, L.P.)
Footnotes (1)
  1. AQR Capital Management, LLC is a wholly owned subsidiary of AQR Capital Management Holdings, LLC. AQR Arbitrage, LLC is deemed to be controlled by AQR Capital Management, LLC. AQR Capital Management, LLC and AQR Arbitrage, LLC act as investment manager to each of AQR Global Alternative Investment Offshore Fund, L.P., AQR Corporate Arbitrage Master Account, L.P., AQR TA Global Alpha Fund, L.P., AQR Absolute Return Master Account, L.P., AQR Apex MS Master Account, L.P., AQR TA Legacy Fund, LLC, AQR DELTA Master Account, L.P., AQR Arbitrage MA Offshore Fund, L.P. AQR Capital Management, LLC serves as the investment manager, and AQR Arbitrage, LLC as sub-advisor, to the AQR Diversified Arbitrage Fund, an open-end registered investment company, to AQR UCITS Funds - AQR Apex UCITS Fund, and to AQR UCITS Funds - AQR Corporate Arbitrage UCITS Fund. AQR Capital Management GP Ltd. is the general partner of AQR Global Alternative Investment Offshore Fund, L.P. AQR Corporate Arbitrage GP, LLC is the general partner of AQR Corporate Arbitrage Master Account, L.P. AQR Tax Advantaged GP II, LLC is the general partner of AQR TA Global Alpha Fund, L.P. AQR Principal Global Asset Allocation, LLC is the general partner of AQR Absolute Return Master Account, L.P. AQR Apex MS GP, LLC is the general partner of AQR Apex MS Master Account, L.P. AQR Capital Management II, LLC is the general partner of AQR TA Legacy Fund, LLC. CNH Principal Partners I, LLC is the general partner of AQR Arbitrage MA Offshore Fund, L.P. AQR Capital Management III, LLC is the general partner of AQR DELTA Master Account, L.P.
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).
1. Name and Address of Reporting Person*
AQR Capital Management Holdings, LLC
(Last) (First) (Middle)
ONE GREENWICH PLAZA
SUITE 130
(Street)
GREENWICH CT 06830
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
IB Acquisition Corp. [ IBAC ] 		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)
10/01/2025
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
Common Stock 10/01/2025 S 12,203 D $10.5 363,713 I AQR Global Alternative Investment Offshore Fund, L.P.(1)(2)
Common Stock 10/01/2025 S 4,964 D $10.5 147,970 I AQR Diversified Arbitrage Fund(1)
Common Stock 10/01/2025 S 3,550 D $10.5 105,799 I AQR Absolute Return Master Account, L.P.(1)(2)
Common Stock 10/01/2025 S 2,643 D $10.5 78,770 I AQR Apex MS Master Account, L.P.(1)(2)
Common Stock 10/01/2025 S 2,335 D $10.5 69,602 I AQR TA Global Alpha Fund, L.P.(1)(2)
Common Stock 10/01/2025 S 2,218 D $10.5 66,117 I AQR Corporate Arbitrage Master Account, L.P.(1)(2)
Common Stock 10/01/2025 S 917 D $10.5 27,348 I AQR TA Legacy Fund, LLC(1)(2)
Common Stock 10/01/2025 S 554 D $10.5 16,503 I AQR UCITS Funds - AQR Apex UCITS Fund(1)
Common Stock 10/01/2025 S 200 D $10.5 5,962 I AQR DELTA Master Account, L.P.(1)(2)
Common Stock 10/01/2025 S 143 D $10.5 4,277 I AQR UCITS Funds - AQR Corporate Arbitrage UCITS Fund(1)
Common Stock 10/01/2025 S 94 D $10.5 2,791 I AQR Arbitrage MA Offshore Fund, L.P.(1)(2)
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*
AQR Capital Management Holdings, LLC
(Last) (First) (Middle)
ONE GREENWICH PLAZA
SUITE 130
(Street)
GREENWICH CT 06830
(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*
AQR CAPITAL MANAGEMENT LLC
(Last) (First) (Middle)
ONE GREENWICH PLAZA
SUITE 130
(Street)
GREENWICH CT 06830
(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*
AQR Arbitrage LLC
(Last) (First) (Middle)
ONE GREENWICH PLAZA
SUITE 130
(Street)
GREENWICH CT 06830
(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. AQR Capital Management, LLC is a wholly owned subsidiary of AQR Capital Management Holdings, LLC. AQR Arbitrage, LLC is deemed to be controlled by AQR Capital Management, LLC. AQR Capital Management, LLC and AQR Arbitrage, LLC act as investment manager to each of AQR Global Alternative Investment Offshore Fund, L.P., AQR Corporate Arbitrage Master Account, L.P., AQR TA Global Alpha Fund, L.P., AQR Absolute Return Master Account, L.P., AQR Apex MS Master Account, L.P., AQR TA Legacy Fund, LLC, AQR DELTA Master Account, L.P., AQR Arbitrage MA Offshore Fund, L.P. AQR Capital Management, LLC serves as the investment manager, and AQR Arbitrage, LLC as sub-advisor, to the AQR Diversified Arbitrage Fund, an open-end registered investment company, to AQR UCITS Funds - AQR Apex UCITS Fund, and to AQR UCITS Funds - AQR Corporate Arbitrage UCITS Fund.
2. AQR Capital Management GP Ltd. is the general partner of AQR Global Alternative Investment Offshore Fund, L.P. AQR Corporate Arbitrage GP, LLC is the general partner of AQR Corporate Arbitrage Master Account, L.P. AQR Tax Advantaged GP II, LLC is the general partner of AQR TA Global Alpha Fund, L.P. AQR Principal Global Asset Allocation, LLC is the general partner of AQR Absolute Return Master Account, L.P. AQR Apex MS GP, LLC is the general partner of AQR Apex MS Master Account, L.P. AQR Capital Management II, LLC is the general partner of AQR TA Legacy Fund, LLC. CNH Principal Partners I, LLC is the general partner of AQR Arbitrage MA Offshore Fund, L.P. AQR Capital Management III, LLC is the general partner of AQR DELTA Master Account, L.P.
/s/ AQR CAPITAL MANAGEMENT HOLDINGS, LLC, /s/ Henry Parkin, Authorized Signatory 10/03/2025
/s/ AQR CAPITAL MANAGEMENT, LLC, /s/ Henry Parkin, Authorized Signatory 10/03/2025
/s/ AQR ARBITRAGE, LLC, /s/ Henry Parkin, Authorized Signatory 10/03/2025
** 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.
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Source: View Original Filing on SEC EDGAR

FAQ

How many IBAC shares did AQR-managed funds sell and at what price?

AQR-managed funds sold 29,821 IB Acquisition Corp. common shares in multiple transactions. Each sale was executed at a price of $10.50 per share on October 1, 2025, according to the Form 4 insider trading report filed for the AQR-related reporting persons.

Which AQR funds were involved in the IBAC stock sales?

Several AQR-managed vehicles were involved, including AQR Global Alternative Investment Offshore Fund, L.P., AQR Diversified Arbitrage Fund, AQR Absolute Return Master Account, L.P., AQR Apex MS Master Account, L.P., and other AQR-branded funds and UCITS products, all holding IB Acquisition Corp. shares indirectly.

Were the AQR IBAC transactions direct or indirect ownership trades?

All reported transactions involved indirect ownership. The IB Acquisition Corp. shares were held through various AQR-managed funds and limited partnerships, with the Form 4 listing ownership as indirect and identifying each fund, rather than direct personal holdings by the reporting AQR management entities.

What type of transactions did AQR entities execute in IBAC stock?

The transactions were open-market sales of IB Acquisition Corp. common stock. The Form 4 classifies each trade with code “S,” described as a sale in open market or private transaction, with all trades occurring on October 1, 2025 at $10.50 per share.

Who are the reporting persons in the AQR IBAC Form 4 filing?

The reporting persons are AQR Capital Management Holdings, LLC, AQR Capital Management LLC, and AQR Arbitrage LLC. They are identified as ten percent owners of IB Acquisition Corp., with the IBAC shares held indirectly through multiple AQR-managed funds and master accounts.