Karman Line (XTERU) director reports 20,000 convertible founder shares

Rhea-AI Filing Summary

Karman Line Acquisition Corp. (XTERU) reported that director Keith J. Masback holds 20,000 Class B ordinary shares, directly. According to the company’s founder share terms, these Class B shares will automatically convert into Class A ordinary shares on a one-for-one basis at the time of the company’s initial business combination, or earlier at the holder’s option, and they have no expiration date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Masback Keith J.

Role Director

Type	Security	Shares	Price	Value
holding	Class B Ordinary Shares F1	--	--	--

Holdings After Transaction: Class B Ordinary Shares — 20,000 shares (Direct)

Footnotes (1)

1. F1. As described in the issuer's registration statement on Form S-1 (File No. 333-297706) under the heading "Description of Securities - Founder Shares," the Class B ordinary shares, par value $0.0001 per share, of the issuer will automatically convert into Class A ordinary shares, par value $0.0001 per share, of the issuer at the time of the issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to certain adjustments, and have no expiration date.

Key Figures

Class B shares held: 20,000 shares Par value per share: $0.0001 Conversion ratio: 1:1

3 metrics

Class B shares held 20,000 shares Class B ordinary shares directly owned by Keith J. Masback following the reported holding entry

Par value per share $0.0001 Par value of Karman Line Acquisition Corp. Class B ordinary shares

Conversion ratio 1:1 Automatic conversion of Class B ordinary shares into Class A ordinary shares at initial business combination

Key Terms

Class B ordinary shares, Founder Shares, initial business combination, par value

4 terms

Class B ordinary shares financial

"the Class B ordinary shares, par value $0.0001 per share, of the issuer will automatically convert"

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.

Founder Shares financial

"under the heading "Description of Securities - Founder Shares," the Class B ordinary 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.

initial business combination financial

"will automatically convert into Class A ordinary shares ... at the time of the issuer's initial business combination"

An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.

par value financial

"Class B ordinary shares, par value $0.0001 per share, of the issuer will automatically convert"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

FAQ

What did Form 3 for XTERU disclose about Keith J. Masback’s holdings?

The Form 3 discloses that Keith J. Masback, a director of Karman Line Acquisition Corp. (XTERU), directly holds 20,000 Class B ordinary shares. These are founder shares subject to automatic one-for-one conversion into Class A ordinary shares.

How many founder shares of XTERU does Keith J. Masback own?

Keith J. Masback owns 20,000 Class B ordinary shares of Karman Line Acquisition Corp. (XTERU). These Class B ordinary shares are designated as founder shares and are currently held directly by him according to the Form 3 filing.

What is the conversion feature of XTERU’s Class B ordinary (founder) shares?

XTERU’s Class B ordinary shares automatically convert into Class A ordinary shares on a one-for-one basis at the time of the company’s initial business combination, or earlier at the holder’s option, and they have no expiration date.

When will Keith J. Masback’s XTERU Class B shares convert into Class A shares?

Masback’s Class B ordinary shares will automatically convert into Class A ordinary shares at the time of XTERU’s initial business combination, or earlier if he elects to convert them, in line with the company’s founder share terms.

Do XTERU’s Class B founder shares held by Keith J. Masback expire?

The Class B ordinary shares of XTERU held by Keith J. Masback have no expiration date. They remain outstanding until they automatically convert into Class A ordinary shares, or are earlier converted at the option of the holder.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Understanding Insider Trading Forms →

Available on EDGAR 08/19/2026 - 03:55 PM Accepted by SEC EDGAR 08/17/2026 - 08:34 PM Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Masback Keith J.

(Last) (First) (Middle)

C/O KARMAN LINE ACQUISITION CORP.

1200 N. FEDERAL HWY, SUITE 200

(Street)

BOCA RATON FLORIDA 33432

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
08/17/2026

3. Issuer Name and Ticker or Trading Symbol
Karman Line Acquisition Corp. [ XTERU ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Ordinary Shares	(1)	(1)	Class B Ordinary Shares	20,000	(1)	D

Explanation of Responses:

1. As described in the issuer's registration statement on Form S-1 (File No. 333-297706) under the heading "Description of Securities - Founder Shares," the Class B ordinary shares, par value $0.0001 per share, of the issuer will automatically convert into Class A ordinary shares, par value $0.0001 per share, of the issuer at the time of the issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to certain adjustments, and have no expiration date.

	/s/ Keith J. Masback	08/17/2026
	** 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 5 (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 3: SEC 1473 (03-26)