CANTOR FITZGERALD & CO. 4

What Happened
Cantor Fitzgerald, L. P. (an institutional holder, not an officer/director) reported a sale of 7,779,865 Class A ordinary shares of M3‑Brigade Acquisition V Corp. (MBAV) on 2026-03-24. The shares were sold at $10.80 per share for a total reported amount of $84,022,542. This was a sale (transaction code S), reported as an "open market or private sale."

Key Details

• Transaction date and price: 2026-03-24 at $10.80 per share.
• Shares sold: 7,779,865; total proceeds: $84,022,542.
• Ownership after transaction: Form 4 states the reporting persons no longer own 10% or more of the issuer's outstanding Class A ordinary shares and are no longer Reporting Persons. (Exact post-sale share count not provided in the summary.)
• Filing timeliness: Form 4 filed 2026-03-25 for a 2026-03-24 transaction (within normal Form 4 reporting window).
• Notable footnote: Remarks indicate this sale reduced the filer’s stake below the 10% reporting threshold and they have ceased to be Reporting Persons.

Context
This was an institutional sale, not an insider executive or director disposition; such large sales can reflect portfolio/investment decisions or secondary transactions and do not necessarily signal company fundamentals. Sales are generally less informative than purchases for gauging insider conviction. The change in status (no longer a ≥10% holder) alters future disclosure obligations for Cantor Fitzgerald with respect to MBAV.