SIM Acquisition Corp. I (SIMA) sponsor converts 3M Class B shares into Class A equity

Rhea-AI Filing Summary

SIM Acquisition Corp. I reported that SIM Sponsor 1 LLC, an entity associated with Eric Newman, converted 3,000,000 Class B ordinary shares into 3,000,000 Class A ordinary shares on May 11, 2026. The conversion occurred on a one-for-one basis at a stated price of $0.00 per share, reflecting a change in share class rather than a market purchase or sale. Following the transaction, the reporting persons held 3,000,000 Class A ordinary shares and continued to hold 4,646,669 Class B ordinary shares. Newman may be deemed a beneficial owner through his control of the sponsor entity but disclaims beneficial ownership beyond his pecuniary interest.

Insider Trade Summary

3,000,000 shares exercised/converted

Mixed 2 txns

Insider SIM Sponsor 1 LLC, Newman Eric

Role null | null

Type	Security	Shares	Price	Value
Conversion	Class B Ordinary Shares	3,000,000	$0.00	--
Conversion	Class A Ordinary Shares	3,000,000	$0.00	--

Holdings After Transaction: Class B Ordinary Shares — 4,646,669 shares (Direct, null); Class A Ordinary Shares — 3,000,000 shares (Direct, null)

Footnotes (1)

1. 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. The Class B ordinary shares have no expiration date. On May 11, 2026, the Reporting Persons elected to convert 3,000,000 Class B Ordinary Shares held by them into 3,000,000 Class A Ordinary Shares. Eric Newman is the manager of Conroy Partners LLC, the managing member of SIM Sponsor 1 LLC (the "Sponsor"), and holds voting and investment discretion with respect to the ordinary shares held of record by the Sponsor. As such, Mr. Newman may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Mr. Newman disclaims any beneficial ownership of the securities held of record by the Sponsor except to the extent of his pecuniary interest therein.

Key Figures

Class B converted: 3,000,000 shares Class A received: 3,000,000 shares Conversion price: $0.00 per share +3 more

6 metrics

Class B converted 3,000,000 shares Converted into Class A on May 11, 2026

Class A received 3,000,000 shares Issued via one-for-one conversion

Conversion price $0.00 per share Stated transaction price for conversion

Class A holdings after 3,000,000 shares Total Class A ordinary shares following transaction

Remaining Class B 4,646,669 shares Class B ordinary shares held after conversion

Transactions classified as acquisitions 2 transactions Both entries marked with acquire direction

Key Terms

Class B ordinary shares, Class A ordinary shares, Conversion of derivative security, beneficial ownership, +1 more

5 terms

Class B ordinary shares financial

"The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination"

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.

Class A ordinary shares financial

"convert 3,000,000 Class B Ordinary Shares held by them into 3,000,000 Class A Ordinary Shares"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

Conversion of derivative security financial

"transaction_code_description": "Conversion of derivative security""

beneficial ownership financial

"Mr. Newman may be deemed to have beneficial ownership of the securities held of record by the Sponsor"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"Mr. Newman disclaims any beneficial ownership of the securities held of record by the Sponsor except to the extent of his pecuniary interest therein"

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^*

SIM Sponsor 1 LLC

(Last) (First) (Middle)

725 FIFTH AVE, 22ND FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
SIM Acquisition Corp. I [ SIMA ]

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)
05/11/2026

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
Class A Ordinary Shares	05/11/2026		C		3,000,000	A	(1)	3,000,000	D(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
Class B Ordinary Shares	(1)	05/11/2026		C			3,000,000	(1)	(1)	Class A Ordinary Shares	3,000,000	$0	4,646,669	D(2)

1. Name and Address of Reporting Person^*

SIM Sponsor 1 LLC

(Last) (First) (Middle)

725 FIFTH AVE, 22ND FLOOR

(Street)

NEW YORK NEW YORK 10022

(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^*

Newman Eric

(Last) (First) (Middle)

725 FIFTH AVE, 22ND FLOOR

(Street)

NEW YORK NEW YORK 10022

(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. 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. The Class B ordinary shares have no expiration date. On May 11, 2026, the Reporting Persons elected to convert 3,000,000 Class B Ordinary Shares held by them into 3,000,000 Class A Ordinary Shares.

2. Eric Newman is the manager of Conroy Partners LLC, the managing member of SIM Sponsor 1 LLC (the "Sponsor"), and holds voting and investment discretion with respect to the ordinary shares held of record by the Sponsor. As such, Mr. Newman may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Mr. Newman disclaims any beneficial ownership of the securities held of record by the Sponsor except to the extent of his pecuniary interest therein.

	/s/ Eric Newman, Manager of Conroy Partners LLC, the Managing Member of SIM Sponsor 1 LLC	05/13/2026
	/s/ Eric Newman	05/13/2026
	** 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 SIM Sponsor 1 LLC do in this SIMA Form 4 filing?

SIM Sponsor 1 LLC converted 3,000,000 Class B ordinary shares into 3,000,000 Class A ordinary shares. This was a one-for-one share class conversion at a stated price of $0.00 per share, not an open-market purchase or sale.

How many SIM Acquisition Corp. I Class A shares are held after the conversion?

After the conversion, the reporting persons held 3,000,000 Class A ordinary shares. These Class A shares resulted directly from converting 3,000,000 Class B ordinary shares on May 11, 2026, as disclosed in the Form 4 filing.

How many SIMA Class B ordinary shares remain after the reported transaction?

Following the transaction, the reporting persons continued to hold 4,646,669 Class B ordinary shares. Only 3,000,000 Class B shares were converted into Class A, so a substantial Class B position remains outstanding according to the Form 4 details.

Was the SIMA Form 4 transaction a buy or sell in the market?

The Form 4 reports a conversion of derivative securities, not a market buy or sell. The transaction code "C" and description "Conversion of derivative security" show it was a class conversion at $0.00 per share, rather than an open-market trade.

What is Eric Newman’s relationship to SIM Sponsor 1 LLC in this filing?

Eric Newman is the manager of Conroy Partners LLC, which manages SIM Sponsor 1 LLC. He has voting and investment discretion over shares held by the sponsor and may be deemed a beneficial owner, while disclaiming beneficial ownership beyond his pecuniary interest.

How do SIMA Class B shares convert into Class A shares?

The Class B ordinary shares automatically convert into Class A ordinary shares at the issuer's initial business combination or earlier at the holder’s option. The conversion is on a one-for-one basis, subject to certain adjustments, and the Class B shares have no expiration date.