Walker Paul Edward 4

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.