Walker Paul Edward 4
4 · SpyGlass Pharma, Inc. · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
SpyGlass Pharma (SGP) — Walker Paul Edward (10% Owner) Buys $15M Stock
What Happened
- Walker Paul Edward (reported as a 10% owner; noted as a manager of NEA-related entities in the filing) acquired 937,500 shares of SpyGlass Pharma common stock on Feb 9, 2026 at $16.00 per share for a total purchase price of $15,000,000.
- The Form 4 also records multiple conversions of derivative securities (preferred stock converting one-for-one into common shares prior to the company's IPO). Those conversions total 6,454,801 shares (individual conversion entries: 1,619,240; 1,370,168; 1,370,168; 737,962; 954,990; 402,273). Many of those converted positions are also shown as disposed as derivatives in the filing (see Key Details and Footnotes).
Key Details
- Transaction date: February 9, 2026; Form 4 filed February 11, 2026 (filing appears timely).
- Purchase: 937,500 shares at $16.00 each = $15,000,000 (transaction code P).
- Conversions: multiple conversion entries totaling 6,454,801 shares reflect preferred-to-common automatic conversion (per footnote F1) in connection with the IPO. Several of these conversions are also reported as dispositions of derivative securities on the same date.
- Shares owned after transaction: not specified in the provided summary; see the full Form 4 for post-transaction holdings.
- Footnotes: F1 explains automatic one-for-one conversion of preferred to common prior to the IPO. F2 and F3 explain the Reporting Person is a manager of NEA fund entities and disclaims beneficial ownership to the extent he has no pecuniary interest.
Context
- The $15M purchase is a direct cash acquisition (P) and is generally considered a stronger signal than routine sales, though filings do not state intent.
- The conversion entries are derivative-related (preferred stock converting to common stock tied to the IPO) rather than option exercises or market sales; some conversion entries are also recorded as dispositions of derivative securities—footnotes indicate the securities are held by NEA funds for which the Reporting Person is a manager and may reflect fund-level ownership or internal reclassification rather than personal trading.
- As always, these filings record transactions; they do not prove motivation. Check the full SEC filing (Accession 0001193125-26-046662) for complete details and holdings.
Insider Transaction Report
Form 4
Walker Paul Edward
10% Owner
Transactions
- Conversion
Common Stock
[F1][F2]2026-02-09+1,619,240→ 1,619,240 total(indirect: See Note 2) - Conversion
Common Stock
[F1][F2]2026-02-09+1,370,168→ 2,989,408 total(indirect: See Note 2) - Conversion
Common Stock
[F1][F2]2026-02-09+1,370,168→ 4,359,576 total(indirect: See Note 2) - Conversion
Common Stock
[F1][F2]2026-02-09+737,962→ 5,097,538 total(indirect: See Note 2) - Purchase
Common Stock
[F2]2026-02-09$16.00/sh+937,500$15,000,000→ 6,035,038 total(indirect: See Note 2) - Conversion
Common Stock
[F1][F3]2026-02-09+954,990→ 954,990 total(indirect: See Note 3) - Conversion
Common Stock
[F1][F3]2026-02-09+402,273→ 1,357,263 total(indirect: See Note 3) - Conversion
Series B Preferred Stock
[F1][F2]2026-02-09−1,619,240→ 0 total(indirect: See Note 2)→ Common Stock (1,619,240 underlying) - Conversion
Series C-1 Preferred Stock
[F1][F2]2026-02-09−1,370,168→ 0 total(indirect: See Note 2)→ Common Stock (1,370,168 underlying) - Conversion
Series C-2 Preferred Stock
[F1][F2]2026-02-09−1,370,168→ 0 total(indirect: See Note 2)→ Common Stock (1,370,168 underlying) - Conversion
Series D Preferred Stock
[F1][F2]2026-02-09−737,962→ 0 total(indirect: See Note 2)→ Common Stock (737,962 underlying) - Conversion
Series A Preferred Stock
[F1][F3]2026-02-09−954,990→ 0 total(indirect: See Note 3)→ Common Stock (954,990 underlying) - Conversion
Series B Preferred Stock
[F1][F3]2026-02-09−402,273→ 0 total(indirect: See Note 3)→ Common Stock (402,273 underlying)
Footnotes (3)
- [F1]All shares of the preferred stock, par value $0.00001 per share, of the Issuer automatically converted on a one-for-one basis to shares of the Issuer's common stock, par value $0.00001 per share ("Common Stock"), prior to the closing of the Issuer's initial public offering of its Common Stock on February 9, 2026.
- [F2]The Reporting Person is a manager of NEA 17 GP, LLC, which is the sole general partner of NEA Partners 17, L.P. ("NEA Partners 17"). NEA Partners 17 is the sole general partner of New Enterprise Associates 17, L.P. ("NEA 17"), the direct beneficial owner of the securities. The Reporting Person disclaims beneficial ownership within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise of such portion of the securities held by NEA 17 in which the Reporting Person has no pecuniary interest.
- [F3]The Reporting Person is a manager of NEA 16 GP, LLC, which is the sole general partner of NEA Partners 16, L.P. ("NEA Partners 16"). NEA Partners 16 is the sole general partner of New Enterprise Associates 16, L.P. ("NEA 16"), the direct beneficial owner of the securities. The Reporting Person disclaims beneficial ownership within the meaning of Section 16 of the Exchange Act or otherwise of such portion of the securities held by NEA 16 in which the Reporting Person has no pecuniary interest.
Signature
/s/ Zachary Bambach, attorney-in-fact|2026-02-11