Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 502

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1B
Chunk 502
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 TDH, and TD GUS may be deemed to hold an indirect interest in the shares reported
herein by virtue of their ownership of TDS. Each of TDH, TD GUS and TD Bank disclaims ownership of the 194,397 of the Company’s
Class A Common Stock except to the extent of its pecuniary interest therein.

The holders of the Founder Shares have agreed (A) to vote any shares
owned by them in favor of any proposed initial business combination and (B) not to redeem any shares in connection with a stockholder
vote to approve a proposed initial business combination or in connection with a tender offer.

Our Sponsor and our executive officers and directors are deemed to
be our “promoters” as such term is defined under the federal securities laws.

90

 Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 

In May 2022, our Sponsor paid $25,000, or approximately $0.011 per
share, to cover certain offering costs in consideration for 2,156,250 Founder Shares. On May 10, 2022, the Sponsor surrendered 287,500
Founder Shares, for no consideration, resulting in the Sponsor and directors continuing to hold 1,868,750 Founder Shares. On August 26,
2022, the Sponsor transferred 25,000 Founder Shares to each of Rahul Mewawalla and Stephen Markscheid, each of which are members of the
Company’s Board of Directors. The awards will vest simultaneously with the closing of an initial business combination, provided
the director has continuously served on the Company’s Board of Directors through the closing of such initial business combination.

Concurrent with the consummation of the Initial Public Offering, on
March 16, 2023, the Sponsor forfeited an aggregate of 373,750 Founder Shares for no consideration, resulting in the Sponsor and directors
holding an aggregate of 1,495,000 Founder Shares, of which up to 195,000 was subject to forfeiture to the extent the over-allotment option
was not exercised in full by the underwriter prior to its expiration date on April 30, 2023.

On March 17, 2023, upon the partial exercise their over-allotment option
by the underwriters, the forfeiture lapsed for 55,250 Founder Shares. Following the expiration of the underwriters’ remaining over-allotment
option on April 30