Mountain Lake Acquisition (MLAC) CFO receives 478,010 Class B shares

Rhea-AI Filing Summary

Mountain Lake Acquisition Corp. reported that CFO and President Douglas Horlick received 478,010 Class B ordinary shares in a pro rata distribution from Mountain Lake Acquisition Sponsor LLC to its members. No cash consideration changed hands in this internal restructuring transaction.

These Class B ordinary shares will automatically convert into Class A ordinary shares on a one-for-one basis at the time of Mountain Lake’s initial business combination, or earlier at the holder’s option, subject to adjustments. Following the transaction, Horlick directly holds 478,010 Class B shares linked to an equal number of Class A shares upon conversion.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Horlick Douglas

Role CFO and President

Type	Security	Shares	Price	Value
Other	Class B ordinary shares, par value $0.0001 per share	478,010	$0.00	--

Holdings After Transaction: Class B ordinary shares, par value $0.0001 per share — 478,010 shares (Direct, null)

Footnotes (1)

1. Represents Class B ordinary shares of the Issuer received in a pro rata distribution of assets by Mountain Lake Acquisition Sponsor LLC (the "Sponsor") to its constituent members (the "Sponsor Distribution"). No consideration was paid in connection with the transaction reported herein. As described in the registration statement on Form S-1 (File No. 333-281410) of the Issuer under the heading "Description of Securities--Founder Shares," the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or at any time prior to the Issuer's initial business combination, at the option of the holder, on a one-for-one basis, subject to certain adjustments.

Key Figures

Class B shares received: 478,010 shares Shares held after transaction: 478,010 shares Transaction price per share: $0.0000 per share +2 more

5 metrics

Class B shares received 478,010 shares Pro rata sponsor distribution to CFO

Shares held after transaction 478,010 shares Direct Class B ordinary share holdings post-transaction

Transaction price per share $0.0000 per share No consideration paid for distribution

Conversion ratio 1 Class B to 1 Class A share Automatic or elective conversion at initial business combination

Restructuring shares 478,010 shares Classified as restructuring-type transaction in summary

Key Terms

pro rata distribution, Founder Shares, initial business combination, Class B ordinary shares, +1 more

5 terms

pro rata distribution financial

"received in a pro rata distribution of assets by Mountain Lake Acquisition Sponsor LLC"

A pro rata distribution is when a company or organization shares out money, assets, or benefits evenly among all eligible people based on their size or share. For example, if a company makes a profit and distributes it to shareholders, each person gets a portion proportional to how many shares they own. It ensures everyone gets their fair part based on their ownership or stake.

Founder Shares financial

"under the heading "Description of Securities--Founder Shares," the Class B ordinary shares will automatically convert"

Founder shares are the ownership stakes given to the people who start a company, often with extra voting power or protections compared with ordinary shares. For investors, they matter because founders’ control and incentives influence decisions about strategy, hiring, and whether the company sells or stays independent — like a family that keeps majority voting rights in a household decision. High founder ownership can mean stable leadership but also a risk that outside shareholders have less influence.

initial business combination financial

"will automatically convert into Class A ordinary shares at the time 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.

Class B ordinary shares financial

"Represents Class B ordinary shares of the Issuer received in a pro rata distribution of assets"

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.

registration statement on Form S-1 regulatory

"As described in the registration statement on Form S-1 (File No. 333-281410) of the Issuer"

A registration statement on Form S-1 is a detailed filing a company submits to the U.S. securities regulator to register new shares for public sale; it includes a plain-language prospectus, financial statements, business description and risk factors. For investors it matters because it provides the official, comprehensive blueprint of the offering — like an owner’s manual — allowing buyers to assess risks, inspect financial health and compare valuation before deciding to invest.

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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^*

Horlick Douglas

(Last) (First) (Middle)

C/O MOUNTAIN LAKE ACQUISITION CORP.

930 TAHOE BLVD STE 802 PMB 45

(Street)

INCLINE VILLAGE NEVADA 89451

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Mountain Lake Acquisition Corp. [ MLAC ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

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

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, par value $0.0001 per share	(1)(2)	06/01/2026		J(1)		478,010		(2)	(2)	Class A ordinary shares	478,010	(2)	478,010	D

Explanation of Responses:

1. Represents Class B ordinary shares of the Issuer received in a pro rata distribution of assets by Mountain Lake Acquisition Sponsor LLC (the "Sponsor") to its constituent members (the "Sponsor Distribution"). No consideration was paid in connection with the transaction reported herein.

2. As described in the registration statement on Form S-1 (File No. 333-281410) of the Issuer under the heading "Description of Securities--Founder Shares," the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or at any time prior to the Issuer's initial business combination, at the option of the holder, on a one-for-one basis, subject to certain adjustments.

	/s/ Douglas Horlick	06/04/2026
	** 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 insider transaction did MLAC CFO Douglas Horlick report on this Form 4?

Douglas Horlick reported receiving 478,010 Class B ordinary shares through a pro rata distribution from Mountain Lake Acquisition Sponsor LLC. The filing notes this was an internal distribution of sponsor assets to members with no cash consideration paid in the transaction.

How many Mountain Lake Acquisition Corp. shares did the MLAC CFO receive?

The CFO received 478,010 Class B ordinary shares of Mountain Lake Acquisition Corp. These shares were allocated via a sponsor pro rata distribution, and the filing shows Horlick directly holding 478,010 Class B shares immediately after the reported restructuring transaction.

Was any cash paid for the 478,010 MLAC Class B shares in this Form 4?

No cash was paid for the 478,010 Class B ordinary shares. The filing states they were received in a pro rata distribution of assets by Mountain Lake Acquisition Sponsor LLC to its members, and explicitly notes that no consideration was paid for this transaction.

How will MLAC Class B ordinary shares held by the CFO convert into Class A shares?

The filing explains that MLAC Class B ordinary shares automatically convert into Class A ordinary shares on a one-for-one basis. Conversion occurs at the time of the company’s initial business combination, or earlier at the holder’s option, subject to certain adjustments described in the registration statement.

What does the Form 4 say about the nature of this MLAC insider transaction?

The transaction is coded as “J,” described as another type of acquisition or disposition tied to restructuring. The Form 4 and footnotes characterize it as a pro rata sponsor asset distribution, not an open-market purchase or sale, and it involves derivative-type Class B founder shares.

What is the reporting person’s position in MLAC after the sponsor share distribution?

After the reported transaction, the Form 4 shows Douglas Horlick directly holding 478,010 Class B ordinary shares of Mountain Lake Acquisition Corp. These founder-type shares are linked to an equal number of Class A ordinary shares upon automatic or elective conversion, subject to adjustments.