Form 4: Montana Technologies Corp.: Directors Report In-Kind Distribution of Class A Common Stock

Theodore J. Brombach and John Yogi Spence, directors of Montana Technologies Corp., report an in-kind distribution of Class A Common Stock through XMS MT Holdings LLC.

Summary

• Theodore J. Brombach and John Yogi Spence, both directors of Montana Technologies Corp. (AIRJ), filed Form 4 documents detailing changes in their beneficial ownership.
• The filings relate to a pro-rata distribution in-kind by XMS MT Holdings LLC to its members on July 24, 2024.
• Brombach received 26,372 shares of Class A Common Stock, while Spence received 49,901 shares.
• Brombach also indirectly owns 162,059 shares through XMS MT Holdings LLC and 6,827,969 shares through XPDI Sponsor II LLC.
• Spence also indirectly owns 162,059 shares through XMS MT Holdings LLC and 6,827,969 shares through XPDI Sponsor II LLC.
• Both Brombach and Spence disclaim beneficial ownership of shares held by XMS MT Holdings LLC and XPDI Sponsor II LLC, except to the extent of their pecuniary interest.
• XPDI Sponsor II LLC is controlled by Transition Equity Partners, LLC and XMS XPDI Sponsor II Holdings, LLC, with Patrick C. Eilers as the managing member of TEP and Brombach and Spence as managing members of XMS XPDI Holdings.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure of the company.
• The in-kind distribution itself may have tax implications for the recipients.

Key Dates