Pardo Geoffrey B 4
4 · SpyGlass Pharma, Inc. · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
SpyGlass Pharma (SGP) Director Geoffrey Pardo Buys $5M Stock
What Happened
Director Geoffrey B. Pardo reported transactions on February 9, 2026: he purchased 312,500 shares of SpyGlass Pharma common stock in an open-market/private purchase at $16.00 per share for $5,000,000. In the same filing he recorded the automatic conversion of 1,875,013 shares of the company's preferred stock into common stock (reported as a conversion of a derivative security), which converted on a one-for-one basis at $0.00 per share.
Key Details
- Transaction date: 2026-02-09 (Form 4 filed 2026-02-11). Filing appears timely.
- Open-market/private purchase: 312,500 shares @ $16.00 = $5,000,000 total cash paid.
- Conversion: 1,875,013 preferred shares converted 1-for-1 into common stock (recorded at $0.00).
- Total shares acquired on 2/9 (combining conversion + purchase): 2,187,513 common shares.
- Footnote F1: The preferred automatically converted to common immediately prior to the IPO.
- Footnote F2: Many shares are held of record by Cooperatieve Gilde Healthcare VG VI U.A.; Gilde’s manager and named individuals (including the reporting person in another capacity) may be deemed to share voting/dispositive power but disclaim beneficial ownership except for pecuniary interest.
Context
The conversion is a corporate action (preferred → common) tied to the company’s IPO and involves no cash outlay; the meaningful cash activity is the $5.0M purchase of 312,500 shares. Purchases by insiders are often watched by investors as direct acquisitions of stock, but this report only shows the facts — no inference about motives. The filing also discloses institutional/managerial relationships via Gilde that affect how beneficial ownership and voting power are reported.
Insider Transaction Report
- Conversion
Common Stock
[F1][F2]2026-02-09+1,875,013→ 1,875,013 total(indirect: See footnote) - Purchase
Common Stock
[F2]2026-02-09$16.00/sh+312,500$5,000,000→ 2,187,513 total(indirect: See footnote) - Conversion
Series D Preferred Stock
[F1][F2]2026-02-09−1,875,013→ 0 total(indirect: See footnote)→ Common Stock (1,875,013 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") immediately prior to the closing of the Issuer's initial public offering of its Common Stock.
- [F2]Shares held by Cooperatieve Gilde Healthcare VG VI U.A. (Gilde). Gilde Healthcare VG VI Management B.V. (Gilde Healthcare Management) is the manager of Gilde and has sole voting and dispositive power with respect to the shares held by Gilde. Gilde Healthcare Management is owned by Gilde Healthcare Holding B.V. and managed by Edwin de Graaf and Pieter Van der Meer. The Reporting Person is the President and General Partner of Gilde Healthcare US Inc. and may be deemed to share voting and dispositive power with respect to the shares held of record by Gilde. Each of Mr. de Graaf, Mr. Van der Meer and the Reporting Person disclaims beneficial ownership of such holdings, except to the extent of their pecuniary interest in the shares.