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Enhanced Group Inc.·4

May 11, 7:34 PM ET

Adams Richard Welker III 4

4 · Enhanced Group Inc. · Filed May 11, 2026

Research Summary

AI-generated summary of this filing

Updated

Enhanced Group (ENHA) Chief Sporting Officer Receives 615,300 Shares

What Happened

  • Richard Welker III, Chief Sporting Officer of Enhanced Group Inc. (ENHA), was granted/received a total of 615,300 securities on May 7, 2026: 570,159 derivative securities (stock options converted into Issuer options) and 45,141 shares issued as an award at $0.00. These grants were reported on a Form 4 filed May 11, 2026 and arose from the closing of the business combination described below. No cash purchase price or market value is reported on the Form 4.

Key Details

  • Transaction date: May 7, 2026; Form 4 filed May 11, 2026 (4 days after the reported transaction date).
  • Securities acquired: 570,159 derivative securities (options) and 45,141 award shares (reported at $0.00).
  • Shares owned after the transaction: not specified in the provided summary of the filing.
  • Notable footnotes:
    • F1: Transactions resulted from the closing of the business combination (A Paradise Acquisition Corp. / Enhanced) on May 7, 2026, after which the combined company was renamed Enhanced Group Inc.
    • F4/F2: Each outstanding Enhanced option was exchanged for a comparable option to purchase the Issuer’s Class A shares and the exercise prices were adjusted per the exchange ratio; the option acquisition is exempt from Section 16(b) under Rule 16b-3.
    • F3: The underlying options were originally granted Oct 29, 2025 and vest monthly over four years from Aug 12, 2024, subject to a one-year cliff.
    • F5: The 45,141 award shares will be paid in a lump sum of Class A common stock in 2026.
  • Timeliness: Form filed May 11 for May 7 transactions; check filing for any tardiness designation (not specified here).

Context

  • These entries reflect conversion/exchange of pre-existing Enhanced awards/options into the surviving Issuer’s securities as part of the merger/combination; they are not open‑market purchases or sales.
  • For retail investors: awards and converted options are routine in corporate transactions and reflect compensation and contractual exchanges rather than an open‑market buy or sell signal. The options are subject to standard vesting and were adjusted per the merger exchange ratio.

Insider Transaction Report

Form 4
Period: 2026-05-07
Enhanced Group Inc.ENHA
Adams Richard Welker III
Chief Sporting Officer
Transactions
  • Award

    Stock Option (Right to buy)

    [F1][F2][F4][F3]
    2026-05-07+570,159→ 570,159 total
    Exercise: $1.23Exp: 2035-10-29→ Class A common stock (570,159 underlying)
  • Award

    Award (Right to receive)

    [F1][F5]
    2026-05-07+45,141→ 45,141 total
    Exercise: $0.00→ Class A common stock (45,141 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]The acquisition of the Stock Options for Class A common stock, par value $0.0001, of the Issuer ("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 options were originally granted on October 29, 2025 and vest monthly over a four-year period measured from August 12, 2024 (the "Vesting Start Date"), subject to a one-year cliff.
  • [F4]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 as defined in the Business Combination Agreement (the "Exchange Ratio"). The exercise price for each such option was also accordingly adjusted based on the Exchange Ratio.
  • [F5]The award will be paid by the Issuer in 2026 in a lump sum of shares of Class A common stock. In connection with the closing of the Business Combination, each award to receive Enhanced common shares was exchanged for a comparable award to receive a number of shares of Class A common stock of the Issuer based on the Exchange Ratio.
Signature
/s/ Emily Tabak, attorney-in-fact for Mr. Adams|2026-05-11

Documents

1 file
  • 4
    wk-form4_1778542459.xmlPrimary

    FORM 4