SVCC director gifts 25,000 Class B shares
Stellar V Capital Corp. director Michael E. Braunstein reported a bona fide gift of 25,000 Class B ordinary shares linked to 25,000 underlying Class A ordinary shares.
Rhea-AI Filing Summary
Stellar V Capital Corp. director Michael E. Braunstein reported a bona fide gift of 25,000 Class B ordinary shares linked to 25,000 underlying Class A ordinary shares. The Class B ordinary shares will convert into Class A ordinary shares on a one-for-one basis at the issuer’s initial business combination and have no expiration date.
The filing explains that these 25,000 Class B shares were previously held in a trust created under former independent director Harry Braunstein’s will for the benefit of his spouse and were later transferred by the trust to Michael Braunstein at no cost after he was appointed an independent director.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Class B ordinary shares | 25,000 | $0.00 | $0.00 |
Footnotes (2)
- F1. At the time of the issuer's initial business combination, the Class B ordinary shares will convert into Class A ordinary shares on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights. The Class B ordinary shares have no expiration date.
- F2. When Harry Braunstein, the Company's former independent director, passed away in November 2025, the 25,000 Class B ordinary shares he owned stayed in a trust created under his will for the benefit of his spouse. After the Issuer's board appointed Michael Braunstein as an independent director of the Issuer, the trust transferred these 25,000 Class B ordinary shares to Michael Braunstein for free, the son of Harry Braunstein.
FAQ
What insider transaction did SVCC director Michael Braunstein report?
Was Michael Braunstein’s SVCC transaction a market sale or purchase?
Does the SVCC Form 4 indicate any remaining derivative positions for Michael Braunstein?
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