Martin Maximilian 4
4 · Enhanced Group Inc. · Filed May 11, 2026
Research Summary
AI-generated summary of this filing
Enhanced Group (ENHA) CEO Martin Maximilian Receives Award
What Happened
Martin Maximilian, CEO of Enhanced Group Inc. (ENHA), was reported as receiving 10,151,943 shares of Class A common stock and 1,930,339 derivative securities (stock options) on 2026-05-07. No per-share price or cash value is reported on the Form 4 — these securities were issued as part of the closing of the business combination between A Paradise Acquisition Corp. and Enhanced (see footnotes).
Key Details
- Transaction date: 2026-05-07; Form 4 filed: 2026-05-11 (reports the May 7 acquisition).
- Shares acquired: 10,151,943 Class A common stock (acquisition code A — award/grant).
- Derivatives acquired: 1,930,339 options to purchase Class A common stock (reported as acquisition, derivative).
- Price/value: Not reported (N/A) on the Form 4.
- Shares owned after transaction: Not specified on this Form 4.
- Footnotes:
- The shares/options were issued in connection with the closing of a Business Combination (SPAC merger) and reflect conversion/exchange of pre-closing Enhanced securities into Issuer Class A common stock per the Business Combination Agreement and Exchange Ratio (F1, F2, F5).
- The option awards were originally granted Oct 29, 2025 and vest monthly over four years from Aug 1, 2025 with a one-year cliff (F4).
- The acquisitions are reported as exempt from Section 16(b) under Rule 16b-3 (F2, F3).
- Timeliness: Report filed on 2026-05-11 for a 2026-05-07 transaction; Form 4s are generally due within two business days of the transaction — check the SEC filing for any tardiness designation.
Context
These reported items are corporate-issued awards and option conversions tied to the merger/business combination (not open-market purchases or sales). The filing indicates conversion of pre-merger Enhanced equity into post-merger Class A shares and the exchange/adjustment of options per the Exchange Ratio. Because no sale or purchase of open-market shares occurred and no price/value is listed, this is primarily a corporate reorganization issuance rather than an insider buying or selling stock as a market sentiment signal.
Insider Transaction Report
- Award
Class A common stock
[F1][F2]2026-05-07+10,151,943→ 10,151,943 total - Award
Stock Option (Right to buy)
[F1][F3][F5][F4]2026-05-07+1,930,339→ 1,930,339 totalExercise: $1.23Exp: 2035-10-29→ Class A common stock (1,930,339 underlying)
Footnotes (5)
- [F1]Consists of securities acquired in connection with the transactions consummated on May 7, 2026, pursuant to that certain Business Combination Agreement, dated November 26, 2025 (the "Business Combination Agreement"), by and among A Paradise Acquisition Corp. ("A Paradise"), A Paradise Merger Sub 1 Inc. ("Merger Sub"), and Enhanced Ltd. ("Enhanced"), pursuant to which (i) Merger Sub merged with and into Enhanced, the separate corporate existence of Merger Sub ceased and Enhanced was the surviving corporation and a wholly owned subsidiary of A Paradise, (ii) Enhanced merged with and into A Paradise, the separate corporate existence of Enhanced ceased and A Paradise was the surviving corporation, and (iii) A Paradise changed its name to "Enhanced Group Inc." (the "Issuer") (the "Business Combination").
- [F2]In connection with the closing of the Business Combination, each Enhanced common share issued and outstanding immediately prior to the effective time of the merger was, pursuant to the Business Combination Agreement, canceled and converted into the right to receive a number of shares of Class A common stock, par value $0.0001, of the Issuer ("Class A common stock"), based on the exchange ratio as defined in the Business Combination Agreement (the "Exchange Ratio"). The acquisition of the Class A common stock is exempt from Section 16(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") pursuant to Rule 16b-3 under the Exchange Act. This Form 4 only reports the acquisition of securities of the Reporting Person pursuant to the Business Combination Agreement and does not reflect the purchase of securities by the Reporting Person.
- [F3]The acquisition of the Stock Options for Class A common stock is exempt from Section 16(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") pursuant to Rule 16b-3 under the Exchange Act. This Form 4 only reports the acquisition of securities of the Reporting Person pursuant to the Business Combination Agreement and does not reflect the purchase of securities by the Reporting Person.
- [F4]The options were originally granted on October 29, 2025 and vest monthly over a four-year period measured from August 1, 2025 (the "Vesting Start Date"), subject to a one-year cliff.
- [F5]In connection with the closing of the Business Combination, each outstanding option to purchase Enhanced common shares, whether vested or unvested, was exchanged for a comparable option to purchase that number of shares of Class A common stock of the Issuer based on the Exchange Ratio. The exercise price for each such option was also accordingly adjusted based on the Exchange Ratio.