NorthStrive CEO forfeits 19,286 Class B shares
The cancellation was part of a 629,998-share pro rata forfeiture after the underwriters’ Over-allotment Option expired unexercised.
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Rhea-AI Filing Summary
NorthStrive Acquisition Corp I. (NSAI) Chief Executive Officer Michel S. Tamer forfeited and surrendered 19,286 Class B ordinary shares to the company for cancellation, for no consideration, on October 20, 2026. The cancellation took effect that day, retroactive to October 3, 2026, leaving him with 128,571 directly held shares. His portion was calculated pro rata after the underwriters’ Over-allotment Option expired unexercised. The Class B Initial Shares convert one-for-one into Class A ordinary shares at the initial Business Combination, subject to adjustment.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class B ordinary shares, par value $0.0001 per share F1, F2 | 19,286 | $0.00 | $0.00 |
Footnotes (2)
- F1. Class B ordinary shares (the "Initial Shares") were issued in a private placement to the Initial Shareholders of NorthStrive Acquisition Corp I. (the "Company") prior to the Company's initial public offering. Each Class B ordinary share will automatically convert into one Class A ordinary share at the time of the Company's initial Business Combination (or earlier at the option of the holder), on a one-for-one basis, subject to adjustment, as described in the Company's Amended and Restated Memorandum and Articles of Association and the final prospectus for the Company's initial public offering (File No. 333-297611).
- F2. On October 20, 2026, the Reporting Person forfeited and surrendered 19,286 Class B ordinary shares to the Company for cancellation, for no consideration, pursuant to Section 1.4.1 of the Underwriting Agreement, dated August 17, 2026, between the Company and D. Boral Capital LLC, as representative of the several underwriters therein, as amended by Amendment No. 1 to Underwriting Agreement, dated as of October 8, 2026, (the "UA Amendment"). The cancellation became effective on October 20, 2026, with retroactive effect to October 3, 2026. The UA Amendment implements the pro rata allocation of the 629,998-share forfeiture required because the underwriters' Over-allotment Option expired unexercised on October 3, 2026. The Reporting Person's share of that forfeiture (19,286 Initial Shares) was calculated pro rata based on the Initial Shares held by the Reporting Person relative to the aggregate Initial Shares outstanding as set forth in Exhibit A to the UA Amendment. "
Key Figures
Key Terms
Over-allotment Option financial
pro rata allocation financial
Business Combination financial
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