[Form 4] MNTN, Inc. Insider Trading Activity

Rhea-AI Filing Summary

MNTN, Inc. director Hadi Partovi, through Hadi Partovi Investments LLC, reported a series of open-market sales of Class A common stock over three days in December 2025. On 12/01/2025, the LLC sold 192,598 shares at a weighted average price of $13.46, leaving 254,922 shares indirectly held. On 12/02/2025, it sold 168,257 shares at a weighted average price of $13.39, leaving 86,665 shares indirectly held. On 12/03/2025, the LLC sold the remaining 86,665 shares at a weighted average price of $13.39, after which no shares were reported as indirectly owned.

The prices for each day reflect weighted averages of multiple trades within disclosed intraday ranges, and the reporting person has undertaken to provide full trade-by-trade details to regulators, the issuer, or its security holders upon request.

Insights

Equity Ownership and Governance Analyst

Director-linked entity sold all reported indirect Class A shares over three days, reducing insider equity alignment.

The filing shows a director-related entity, Hadi Partovi Investments LLC, selling Class A common stock of MNTN, Inc. on three consecutive days, from 12/01/2025 to 12/03/2025. The transactions were open-market sales coded "S" at weighted average prices around $13.39–$13.46, totaling 192,598 shares on the first day, 168,257 shares on the second, and 86,665 shares on the third. After these sales, the table shows 0 Class A shares beneficially owned indirectly through this LLC.

This means the reported indirect ownership position through that specific vehicle moved from 447,520 shares (sum of the three sale amounts plus the final day balance) to none. The reporting person remains identified as a director, so this reduction in indirect holdings can reduce economic exposure via that LLC, which can matter for perceived alignment with other equity holders. The explanation notes that each day’s sales occurred in multiple trades within stated price ranges and confirms the weighted average reporting convention.

The key item to watch going forward is whether any new Form 4s show fresh acquisitions or additional dispositions by this director in other accounts or derivative positions. Subsequent ownership reports after 12/03/2025 will clarify if this zero balance at the LLC level is offset by other forms of beneficial ownership or reflects a broader change in this person’s equity stake.

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^*

Partovi Hadi

(Last) (First) (Middle)

C/O MNTN, INC.

823 CONGRESS AVENUE, #1827

(Street)

AUSTIN TX 78768

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MNTN, Inc. [ MNTN ]

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)
12/01/2025

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
Class A Common Stock	12/01/2025		S		192,598	D	$13.46(1)	254,922	I	By Hadi Partovi Investments LLC
Class A Common Stock	12/02/2025		S		168,257	D	$13.39(2)	86,665	I	By Hadi Partovi Investments LLC
Class A Common Stock	12/03/2025		S		86,665	D	$13.39(3)	0	I	By Hadi Partovi Investments LLC

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

Explanation of Responses:

1. The sales were executed in multiple trades at prices ranging from $13.00 to $13.56. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

2. The sales were executed in multiple trades at prices ranging from $13.30 to $13.67. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

3. The sales were executed in multiple trades at prices ranging from $13.07 to $13.56. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

Remarks:

	/s/ Richard Ballard, Attorney-in-Fact	12/03/2025
	** 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.
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.