Reza Soltanzadeh - 12 Jan 2026 Form 4 Insider Report for Borealis Foods Inc. (BRLS)

Reporting relationship: Chief Executive Officer, Director, 10%+ Owner
Issuer ticker: BRLS
Reported as of: 12 Jan 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 29 May 2026, 16:15:11 UTC
Prior SEC filing: 20 Feb 2024
Source filing: View source filing
Reporting owner signature: /s/ Pouneh Rahimi - Attorney in Fact

Key filing fact

Reza Soltanzadeh filed Form 4 for Borealis Foods Inc. (BRLS) on 29 May 2026.

Key facts

This page summarizes Reza Soltanzadeh's Form 4 filing for Borealis Foods Inc. (BRLS).
1 reported transaction and 0 derivative rows are listed below.
Accepted by SEC: 29 May 2026, 16:15.

Change

Previous filing in this sequence was filed on 20 Feb 2024.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (2)

CIK 0002008623 Primary reporting owner

Soltanzadeh Reza

Relationship: Chief Executive Officer, Director, 10%+ Owner
Address: C/O BOREALIS FOODS INC., 1540 CORNWALL RD., SUITE 104, OAKVILLE, ONTARIO, CANADA
Signature: /s/ Pouneh Rahimi - Attorney in Fact
Signature date: 29 May 2026

CIK 0002011963

Zagros Alpine Capital ULC

Relationship: 10%+ Owner
Address: C/O BOREALIS FOODS INC., 1540 CORNWALL RD., SUITE 104 OAKVILLE,, OAKVILLE, ONTARIO, CANADA
Signature: /s/ Pouneh Rahimi - Attorney in Fact
Signature date: 29 May 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

BRLS transaction

Class A Common Shares

Other

Transaction value
Shares: -500,000
Change %: -14%
Price
Shares after: 3,032,505
Date: 12 Jan 2026
Ownership: By Zagros Alpine Capital ULC
Footnotes: F1, F2, F3

BRLS transaction

Class A Common Shares

Other

Transaction value
Shares: -500,000
Change %: -14%
Price
Shares after: 3,032,505
Date: 12 Jan 2026
Ownership: By Zagros Alpine Capital ULC
Footnotes: F1, F2, F3

BRLS holding

Class A Common Shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 127,947
Date: 12 Jan 2026
Ownership: By Z Ventures Inc.
Footnotes: F4

BRLS holding

Class A Common Shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 127,947
Date: 12 Jan 2026
Ownership: By Z Ventures Inc.
Footnotes: F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

On December 5, 2025, the Reporting Person entered into a Pledge and Escrow Agreement with EarlyBirdCapital, Inc. ("EBC") and Continental Stock Transfer & Trust Company pursuant to which the Reporting Person agreed to pledge 500,000 Class A Common Shares (the "Shares") of Borealis Foods Inc. (the "Company") to secure indebtedness of the company owed to EBC. Upon the Company's default under the promissory note described in footnote 2, the Shares were transferred to EBC on January 12, 2026 in partial satisfaction of such indebtedness.

Footnote F2

The Reporting Person pledged 500,000 Class A Common Shares of the Company to secure payment of indebtedness of the Company in the principal amount of $1,980,000 under that certain promissory note, dated February 7, 2024, as amended on April 15, 2025, June 30, 2025, and December 5, 2025.

Footnote F3

Zagros directly owns the reported shares. Mr. Soltanzadeh is the President of Zagros. Leila Rasoulian is the spouse of Mr. Soltanzadeh. Mr. Soltanzadeh and Ms. Rasoulian may be deemed to share beneficial ownership of all the shares held by Zagros. Mr. Soltanzadeh and Ms. Rasoulian may be deemed to have joint voting and dispositive power over the shares held by Zagros.

Footnote F4

Z Ventures Inc. ("Z Ventures") directly owns the reported shares. Mr. Soltanzadeh is the President of Z Ventures. Leila Rasoulian is the spouse of Mr. Soltanzadeh. Mr. Soltanzadeh and Ms. Rasoulian may be deemed to share beneficial ownership of all the shares held by Z Ventures. Mr. Soltanzadeh and Ms. Rasoulian may be deemed to have joint voting and dispositive power over the shares held by Z Ventures.