Yang Rick 4
4 · SpyGlass Pharma, Inc. · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
SpyGlass Pharma (SGP) — Yang Rick (10% Owner) Buys $15M of Stock
What Happened
- Yang Rick, reported as a 10% owner and manager of NEA 17 GP (see footnote), was involved in two types of transactions on Feb 9, 2026: (1) automatic conversions of preferred stock into common stock and (2) a cash purchase of common shares. The filing shows conversions of 1,619,240; 1,370,168; 1,370,168; and 737,962 preferred shares — a total of 5,097,538 shares — that converted one‑for‑one into common stock prior to the company’s IPO (footnote F1). In addition, the filing reports an open market/private purchase of 937,500 common shares at $16.00 per share for $15,000,000 (total purchase value).
Key Details
- Transaction date: February 9, 2026; Form 4 filed February 11, 2026 (timely within the 2-business-day Rule 16 requirement).
- Conversions (derivative security code C): total 5,097,538 preferred shares converted 1-for-1 into common; these show as both acquisitions of common stock and dispositions of the derivative instruments in the filing (standard reporting treatment when derivatives convert).
- Purchase (code P): 937,500 common shares at $16.00 each; total cash paid = $15,000,000.
- Shares owned after transaction: not specified in the provided summary of the filing.
- Footnotes: F1 — preferred automatically converted to common on a one‑for‑one basis prior to IPO closing; F2 — Reporting person is a manager of NEA 17 GP and NEA 17 is the direct beneficial owner; the reporting person disclaims beneficial ownership for portions in which he has no pecuniary interest (i.e., this reflects institutional holdings/transactions).
Context
- The conversions were automatic preferred-to-common conversions tied to the IPO (not a market purchase) and are reported as derivative conversions. The $15M cash purchase is a direct purchase of common stock at the IPO/secondary price and is the most economically significant action here. Because the filing stems from NEA-related holdings and the reporting person disclaims certain beneficial ownership, retail investors should view the converted shares as institutional-position reporting rather than necessarily a personal buy by the individual.
Insider Transaction Report
Form 4
Yang Rick
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
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)
Footnotes (2)
- [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.
Signature
/s/ Zachary Bambach, attorney-in-fact|2026-02-11