Mehana Ventures boosts stake in Pono Capital Four (PONOU) with $1.6M unit buy

Rhea-AI Filing Summary

Pono Capital Four, Inc. insider Mehana Ventures LLC, a 10% owner and the sponsor, reported buying 160,000 private units for $1,600,000, or $10 per unit. Each private unit consists of one Class A ordinary share and one right, giving Mehana Ventures 160,000 Class A shares and 160,000 rights. Each right automatically converts into one-fifth of one Class A ordinary share upon completion of the company’s initial business combination, representing an additional 32,000 Class A shares if a deal is consummated.

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
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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^*

Mehana Ventures LLC

(Last) (First) (Middle)

4348 WAIALAE AVE, #632

(Street)

HONOLULU HAWAII 96816

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Pono Capital Four, Inc. [ PONO ]

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)
03/16/2026

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
Class A Ordinary Shares	03/16/2026		P		160,000	A	(1)	160,000	D

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
Rights to receive Class A ordinary shares	(2)	03/16/2026		P		160,000		(2)	(2)	Class A Ordinary Shares	32,000	(1)	160,000	D

Explanation of Responses:

1. Reflects the 160,000 private units owned by Mehana Ventures LLC, the Issuer's sponsor. Each private unit consists of one Class A ordinary share and one right. The private units were purchased at $10 per unit for an aggregate purchase price of $1,600,000.

2. Each right converts automatically into one-fifth of one Class A ordinary share upon the consummation of an initial business combination of the Issuer.

	/s/ Dustin Shindo Name: Dustin Shindo Title: Manager	03/18/2026
	** 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 Mehana Ventures LLC buy in this Pono Capital Four (PONOU) Form 4?

Mehana Ventures LLC bought 160,000 private units of Pono Capital Four for $1,600,000. Each unit includes one Class A ordinary share and one right, providing both immediate share ownership and additional potential shares through the attached rights.

How much did Mehana Ventures LLC invest in Pono Capital Four (PONOU)?

Mehana Ventures LLC invested $1,600,000 in Pono Capital Four by purchasing 160,000 private units at $10 per unit. These units include 160,000 Class A ordinary shares plus rights that may convert into an additional 32,000 Class A shares after a business combination.

What does each Pono Capital Four (PONOU) private unit held by Mehana Ventures include?

Each private unit held by Mehana Ventures includes one Class A ordinary share and one right. According to the disclosure, each right automatically converts into one-fifth of one Class A ordinary share upon consummation of Pono Capital Four’s initial business combination.

How many potential Pono Capital Four (PONOU) shares can Mehana Ventures receive from rights?

Mehana Ventures holds 160,000 rights, each converting into one-fifth of one Class A ordinary share. If Pono Capital Four completes its initial business combination, those rights would convert into 32,000 additional Class A ordinary shares for Mehana Ventures LLC.

What is Mehana Ventures LLC’s relationship to Pono Capital Four (PONOU)?

Mehana Ventures LLC is identified as the sponsor of Pono Capital Four and a ten-percent owner. Its purchase of 160,000 private units aligns its economic exposure with the company’s performance, including both current Class A share ownership and additional rights-based upside.