West Enclave Merger (WENC) sponsor nets 1.25M-share reduction in holdings

Rhea-AI Filing Summary

West Enclave Sponsor LLC, a major shareholder of West Enclave Merger Corp., reported both sales and purchases of ordinary shares. On the reported date, the Sponsor sold 1,380,000 ordinary shares in open-market or private transactions and separately bought 127,500 ordinary shares.

After these transactions, the Sponsor held 3,960,833 ordinary shares. The 127,500 purchased shares are the ordinary shares included in Private Units that the Sponsor acquired at $10.00 per unit in a private placement completed alongside the company’s initial public offering.

Insider Trade Summary

2 transactions reported

Net Sell 2 txns

Insider WEST ENCLAVE SPONSOR LLC

Role null

Bought 127,500 shs ($0.00)

Sold 1,380,000 shs ($0.00)

Type	Security	Shares	Price	Value
Purchase	Ordinary Shares	127,500	$0.00	--
Sale	Ordinary Shares	1,380,000	$0.00	--

Holdings After Transaction: Ordinary Shares — 3,960,833 shares (Direct, null)

Footnotes (1)

1. Simultaneously with the consummation of the Issuer's initial public offering, West Enclave Sponsor LLC (the "Sponsor") acquired, at a price of $10.00 per unit, 127,500 units (the "Private Units") in a private placement for an aggregate purchase price of $1,275,000. Each Private Unit consists of one ordinary share and one right entitling the holder thereof to receive one-tenth of one ordinary share upon the completion of an initial business combination. The reported shares are the 127,500 ordinary shares included in such Private Units. The securities are held directly by the Sponsor and indirectly by Emilio Mahuad and Adrian Otero, who control the management of the Sponsor, including the exercise of voting and investment discretion with respect to the ordinary shares held of record by the Sponsor. Each of Mr. Mahuad and Mr. Otero disclaims any beneficial ownership of any shares held by the sponsor except to the extent of his pecuniary interest therein. The Sponsor transferred an aggregate of 1,380,000 ordinary shares of the Issuer (the "founder shares") to certain designees on the closing of the Issuer's initial public offering for an aggregate consideration of approximately $9,000, or approximately $0.0065 per founder share (including an aggregate of 200,000 founder shares to two of the Issuer's independent director nominees or affiliated entities).

Key Figures

Shares sold: 1,380,000 ordinary shares Shares purchased: 127,500 ordinary shares Net share change: -1,252,500 shares +3 more

6 metrics

Shares sold 1,380,000 ordinary shares Sale in open-market or private transactions on May 1, 2026

Shares purchased 127,500 ordinary shares Open-market or private purchase on May 1, 2026

Net share change -1,252,500 shares Net of 1,380,000 sold and 127,500 bought, per transaction summary

Shares held after transactions 3,960,833 ordinary shares Total shares directly held by the Sponsor following reported trades

Private Units purchase price $10.00 per unit 127,500 units bought in private placement at IPO, total $1,275,000

Founder shares transferred 1,380,000 founder shares Transferred to designees at IPO closing for about $9,000 total

Key Terms

Private Units, initial public offering, founder shares, beneficial ownership, +2 more

6 terms

Private Units financial

"acquired, at a price of $10.00 per unit, 127,500 units (the "Private Units") in a private placement"

initial public offering financial

"Simultaneously with the consummation of the Issuer's initial public offering, West Enclave Sponsor LLC acquired"

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

founder shares financial

"The Sponsor transferred an aggregate of 1,380,000 ordinary shares of the Issuer (the "founder shares")"

Founder shares are the ownership stakes given to the people who start a company, often with extra voting power or protections compared with ordinary shares. For investors, they matter because founders’ control and incentives influence decisions about strategy, hiring, and whether the company sells or stays independent — like a family that keeps majority voting rights in a household decision. High founder ownership can mean stable leadership but also a risk that outside shareholders have less influence.

beneficial ownership financial

"Each of Mr. Mahuad and Mr. Otero disclaims any beneficial ownership of any shares held 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.

ordinary shares financial

"one ordinary share and one right entitling the holder thereof to receive one-tenth of one ordinary share"

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

voting and investment discretion financial

"who control the management of the Sponsor, including the exercise of voting and investment discretion"

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^*

WEST ENCLAVE SPONSOR LLC

(Last) (First) (Middle)

C/O WEST ENCLAVE MERGER CORP.

C. CALDERON DE LA BARCA 22

(Street)

CIUDAD DE MEXICO MEXICO 11540

(City) (State) (Zip)

MEXICO

(Country)

2. Issuer Name and Ticker or Trading Symbol
West Enclave Merger Corp. [ WENC U ]

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)
05/01/2026

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
Ordinary Shares	05/01/2026		P		127,500	A	(1)	3,960,833	D(2)
Ordinary Shares	05/01/2026		S		1,380,000	D	(3)	2,580,833	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

Explanation of Responses:

1. Simultaneously with the consummation of the Issuer's initial public offering, West Enclave Sponsor LLC (the "Sponsor") acquired, at a price of $10.00 per unit, 127,500 units (the "Private Units") in a private placement for an aggregate purchase price of $1,275,000. Each Private Unit consists of one ordinary share and one right entitling the holder thereof to receive one-tenth of one ordinary share upon the completion of an initial business combination. The reported shares are the 127,500 ordinary shares included in such Private Units.

2. The securities are held directly by the Sponsor and indirectly by Emilio Mahuad and Adrian Otero, who control the management of the Sponsor, including the exercise of voting and investment discretion with respect to the ordinary shares held of record by the Sponsor. Each of Mr. Mahuad and Mr. Otero disclaims any beneficial ownership of any shares held by the sponsor except to the extent of his pecuniary interest therein.

3. The Sponsor transferred an aggregate of 1,380,000 ordinary shares of the Issuer (the "founder shares") to certain designees on the closing of the Issuer's initial public offering for an aggregate consideration of approximately $9,000, or approximately $0.0065 per founder share (including an aggregate of 200,000 founder shares to two of the Issuer's independent director nominees or affiliated entities).

	/s/ Jason T. Simon, Attorney-in-Fact	05/01/2026
	** 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 West Enclave Sponsor LLC report in its latest Form 4 for WENC?

West Enclave Sponsor LLC reported both selling and buying ordinary shares of West Enclave Merger Corp.. It sold 1,380,000 shares and purchased 127,500 shares, ending with 3,960,833 shares held after the reported transactions.

How many West Enclave Merger Corp. (WENC) shares did the Sponsor sell?

The Sponsor sold 1,380,000 ordinary shares of West Enclave Merger Corp. The filing describes these as sales in open-market or private transactions on the reported date, representing the transfer of a substantial block of founder shares to designated recipients.

What are the 127,500 WENC shares acquired by West Enclave Sponsor LLC?

The 127,500 shares are the ordinary shares included in Private Units the Sponsor acquired. It bought 127,500 units at $10.00 per unit in a private placement completed alongside the company’s initial public offering, each unit including one share and one right.

How many WENC shares does West Enclave Sponsor LLC hold after these transactions?

After the reported sale and purchase, West Enclave Sponsor LLC holds 3,960,833 ordinary shares of West Enclave Merger Corp. This post-transaction balance reflects both the disposition of 1,380,000 shares and the acquisition of 127,500 shares on the same date.

Who controls voting and investment decisions for WENC shares held by the Sponsor?

Voting and investment discretion over the ordinary shares held by the Sponsor is controlled by Emilio Mahuad and Adrian Otero. Each disclaims beneficial ownership of the shares held by the Sponsor except to the extent of his pecuniary interest in those securities.

What are WENC founder shares mentioned in the Sponsor’s Form 4 footnotes?

The filing notes that the Sponsor transferred 1,380,000 founder shares to certain designees at the closing of the initial public offering for total consideration of about $9,000, or roughly $0.0065 per founder share, including shares allocated to independent director nominees or affiliates.