AQR funds reduce IB Acquisition Corp. (IBAC) holdings with 335,000-share sale

Rhea-AI Filing Summary

AQR-affiliated investment funds reported open-market sales of IB Acquisition Corp. common stock. On March 23, 2026, entities managed by AQR Capital Management sold a combined 335,000 shares of common stock at $10.80 per share.

The transactions were executed across multiple vehicles, including AQR Global Alternative Investment Offshore Fund, L.P., which held 143,785 shares after its sale, and other funds such as AQR Diversified Arbitrage Fund and several AQR arbitrage and UCITS funds. The sales are reported by AQR Capital Management Holdings, LLC, AQR Capital Management, LLC, and AQR Arbitrage LLC as indirect holdings of ten percent owners.

Insider Trade Summary

Net Seller: 335,000 shares ($3,618,000)

Net Sell 10 txns

Insider AQR Capital Management Holdings, LLC, AQR CAPITAL MANAGEMENT LLC, AQR Arbitrage LLC

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

Sold 335,000 shs ($3.62M)

Type	Security	Shares	Price	Value
Sale	Common Stock	138,005	$10.80	$1.49M
Sale	Common Stock	56,145	$10.80	$606K
Sale	Common Stock	40,144	$10.80	$434K
Sale	Common Stock	29,888	$10.80	$323K
Sale	Common Stock	26,410	$10.80	$285K
Sale	Common Stock	25,087	$10.80	$271K
Sale	Common Stock	10,377	$10.80	$112K
Sale	Common Stock	6,262	$10.80	$68K
Sale	Common Stock	1,623	$10.80	$18K
Sale	Common Stock	1,059	$10.80	$11K

Holdings After Transaction: Common Stock — 143,785 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 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.

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

X

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^*

AQR Capital Management Holdings, LLC

(Last) (First) (Middle)

ONE GREENWICH PLAZA

SUITE 130

(Street)

GREENWICH CONNECTICUT 06830

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/23/2026

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

	Form filed by One Reporting Person
X	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
Common Stock	03/23/2026		S		138,005	D	$10.8	143,785	I	AQR Global Alternative Investment Offshore Fund, L.P.(1)(2)
Common Stock	03/23/2026		S		56,145	D	$10.8	58,496	I	AQR Diversified Arbitrage Fund(1)
Common Stock	03/23/2026		S		40,144	D	$10.8	41,825	I	AQR Absolute Return Master Account, L.P.(1)(2)
Common Stock	03/23/2026		S		29,888	D	$10.8	31,140	I	AQR Apex MS Master Account, L.P.(1)(2)
Common Stock	03/23/2026		S		26,410	D	$10.8	27,515	I	AQR TA Global Alpha Fund, L.P.(1)(2)
Common Stock	03/23/2026		S		25,087	D	$10.8	26,138	I	AQR Corporate Arbitrage Master Account, L.P.(1)(2)
Common Stock	03/23/2026		S		10,377	D	$10.8	10,811	I	AQR TA Legacy Fund, LLC(1)(2)
Common Stock	03/23/2026		S		6,262	D	$10.8	6,524	I	AQR UCITS Funds - AQR Apex UCITS Fund(1)
Common Stock	03/23/2026		S		1,623	D	$10.8	1,690	I	AQR UCITS Funds - AQR Corporate Arbitrage UCITS Fund(1)
Common Stock	03/23/2026		S		1,059	D	$10.8	1,103	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 CONNECTICUT 06830

(City) (State) (Zip)

UNITED STATES

(Country)

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 CONNECTICUT 06830

(City) (State) (Zip)

UNITED STATES

(Country)

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 CONNECTICUT 06830

(City) (State) (Zip)

UNITED STATES

(Country)

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 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.

	/s/ AQR CAPITAL MANAGEMENT HOLDINGS, LLC, /s/ Henry Parkin, Authorized Signatory	03/25/2026
	/s/ AQR CAPITAL MANAGEMENT, LLC, /s/ Henry Parkin, Authorized Signatory	03/25/2026
	/s/ AQR ARBITRAGE, LLC, /s/ Henry Parkin, Authorized Signatory	03/25/2026
	** 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)

FAQ

What did AQR-related entities do in this IBAC Form 4 filing?

AQR-managed investment entities reported selling 335,000 IB Acquisition Corp. shares. These were open-market sales of common stock at $10.80 per share on March 23, 2026, executed across several AQR arbitrage and alternative investment funds.

Who are the reporting persons in the IBAC Form 4 linked to AQR?

The reporting persons are AQR Capital Management Holdings, LLC, AQR Capital Management LLC, and AQR Arbitrage LLC. They are identified as ten percent owners and investment managers or sub-advisors for multiple AQR funds that executed the IB Acquisition Corp. share sales.

How many IB Acquisition Corp. shares did AQR funds sell and at what price?

AQR-managed funds sold a total of 335,000 IB Acquisition Corp. common shares. Each transaction was reported at a sale price of $10.80 per share, reflecting open-market or private transaction sales conducted on March 23, 2026 by various AQR investment vehicles.

Which AQR funds are involved in the IBAC share sales disclosed here?

Multiple AQR vehicles participated, including AQR Global Alternative Investment Offshore Fund, L.P. and AQR Diversified Arbitrage Fund. Other entities include AQR Absolute Return Master Account, L.P., AQR Apex MS Master Account, L.P., AQR TA Legacy Fund, LLC, and certain AQR UCITS funds.

Did AQR-managed entities retain IBAC shares after these reported sales?

Yes, AQR-managed entities continued to hold IBAC shares after selling. For example, AQR Global Alternative Investment Offshore Fund, L.P. reported holding 143,785 shares of IB Acquisition Corp. common stock following its sale, and other funds also reported remaining positions.