I have at least six or seven photos of Pentax-M 135/3.5s that don't have a rectangular baffle. It looks like the K version to me, which looks like this:
The orange diamond above the aperture ring should end up at top center when the lens is mounted. The center of the long side of the rectangle should line up with the orange diamond. Don't worry that much about alignment. On APS-C, because the longest dimension of the sensor is the same as the shortest side of the film rectangle, you could be 90 degrees off and still OK.