Florence Anthony A. Jr. 4

What Happened
Florence Anthony A. Jr., a reported 10% owner (manager of NEA GP entities), acquired 937,500 shares of SpyGlass Pharma (SGP) on Feb 9, 2026 in a private/open‑market purchase at $16.00 per share for a total cash outlay of $15,000,000. On the same date a series of the Issuer’s preferred shares automatically converted one‑for‑one into common stock, resulting in approximately 6,454,801 additional common shares being recorded as acquired (with corresponding derivative security dispositions reflecting the conversion).

Key Details

• Transaction date: February 9, 2026; Form 4 filed February 11, 2026 (timely within the standard 2‑business‑day window).
• Cash purchase: 937,500 shares at $16.00 each = $15,000,000.
• Automatic conversions: six conversion entries totaling 6,454,801 common shares (preferred converted 1-for-1 prior to the IPO per filing footnote).
• Net new shares recorded on the Form 4 = at least 7,392,301 shares (6,454,801 conversions + 937,500 purchase). The filing’s provided excerpt does not state total beneficial ownership after the transactions.
• Footnotes: F1 = preferred stock automatically converted 1:1 to common prior to IPO. F2/F3 = Reporting Person is a manager of NEA GP entities; the filing disclaims beneficial ownership of portions in which the Reporting Person has no pecuniary interest.
• No indication in the provided data that this filing was late.

Context

• The conversion entries are structural—preferred shares converting into common stock—rather than market buys; the separate P-coded line is the meaningful cash purchase ($15M).
• Because the Reporting Person is acting as a manager of NEA investment partnerships (per footnotes), this reflects institutional/partner-level activity rather than an operating officer’s personal trade.
• Conversions of preferred into common are common at IPO closing and do not by themselves indicate a purchase decision; the $15M purchase is the direct cash investment reported.