Large owner Goldman Sachs Group Inc bought $46,773 worth of shares (4,328 units at $10.81) and sold $52,707 worth of shares (4,872 units at $10.82) (SEC Form 4)

2/26/26 6:01:08 PM ET

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SEC FORM 4 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

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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^*

GOLDMAN SACHS GROUP INC

(Last)

(First)

(Middle)

200 WEST STREET

(Street)

NEW YORK

10282

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
INFLECTION POINT ACQUISITION CORP. IV [ BACQ ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/28/2025

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	11/28/2025		S		1	D	$10.74	2,833,419	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	11/28/2025		S		1	D	$10.74	2,833,418	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	11/28/2025		S		13	D	$10.73	2,833,405	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	11/28/2025		S		4	D	$10.73	2,833,401	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	11/28/2025		S		2	D	$10.73	2,833,399	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	11/28/2025		S		16	D	$10.73	2,833,383	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	11/28/2025		S		3	D	$10.72	2,833,380	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	11/28/2025		S		4	D	$10.72	2,833,376	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	11/28/2025		S		2	D	$10.7	2,833,374	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/05/2025		P		14	A	$11	3,286,228	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/05/2025		P		14	A	$11	3,286,242	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/05/2025		P		1,465	A	$10.8	3,287,707	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/05/2025		P		1,500	A	$10.8	3,289,207	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/05/2025		P		451	A	$10.79	3,289,658	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/05/2025		P		500	A	$10.71	3,290,158	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/05/2025		S		14	D	$11	3,290,144	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/05/2025		S		3,300	D	$10.82	3,286,844	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/05/2025		S		630	D	$10.79	3,286,214	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/05/2025		S		500	D	$10.71	3,285,714	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/08/2025		P		250	A	$11	3,252,488	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/08/2025		P		3	A	$10.98	3,252,491	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/08/2025		P		63	A	$10.98	3,252,554	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/08/2025		P		63	A	$10.98	3,252,617	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/08/2025		S		63	D	$11	3,252,554	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/08/2025		S		250	D	$11	3,252,304	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/08/2025		S		3	D	$10.98	3,252,301	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/08/2025		S		63	D	$10.98	3,252,238	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/09/2025		P		2	A	$10.98	3,251,388	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/09/2025		P		3	A	$10.95	3,251,391	I	See footnotes⁽³⁾⁽⁴⁾
Class A Common Stock, par value $0.0001 per share⁽¹⁾⁽²⁾	12/09/2025		S		3	D	$10.95	3,251,388	I	See footnotes⁽³⁾⁽⁴⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

1. Name and Address of Reporting Person^*

GOLDMAN SACHS GROUP INC

(Last)

(First)

(Middle)

200 WEST STREET

(Street)

NEW YORK

10282

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

GOLDMAN SACHS & CO. LLC

(Last)

(First)

(Middle)

200 WEST STREET

(Street)

NEW YORK

10282

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the "Issuer") Class A Common Stock (the "Common Stock").

2. These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

3. Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer.

4. The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

Remarks:

Balance of trades included in attached schedule. (See Exhibit 99.1)

	/s/ Crystal Orgill, Attorney-in-fact	02/26/2026
	/s/ Crystal Orgill, Attorney-in-fact	02/26/2026
	** 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.

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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

Amount

(A) or (D)

Price