Scheiner Zachary 4

What Happened
Zachary Scheiner, an Outside Director of SpyGlass Pharma, was granted a derivative award covering 27,400 shares on February 5, 2026. The grant shows a $0 acquisition price (award/option), so no cash was paid and the reported total value is $0. This is an equity grant under the issuer’s equity incentive plan, not an open-market purchase or sale.

Key Details

• Transaction date and price: 2026-02-05; 27,400 shares @ $0.00 (derivative award).
• Vesting: Subject to continuing service as an Outside Director; 1/36th of the shares vest monthly beginning on the Date of Grant (Feb 5, 2026). (Footnote F1)
• Beneficial ownership: Scheiner holds the option for the benefit of RA Capital funds and is obligated to turn over any net cash or stock received to the Adviser; he disclaims beneficial ownership of the option and underlying shares. (Footnote F2)
• Shares owned after transaction: Reporting person disclaims beneficial ownership of the option/underlying stock; the filing indicates the award is held for RA Capital funds.
• Filing timeliness: Report filed Feb 9, 2026 for a Feb 5 transaction — the Form 4 appears timely (filed within the required two business days).

Context
This was an equity award (derivative grant) with monthly vesting tied to continued service as an Outside Director. Because Scheiner disclaims beneficial ownership and holds the award for RA Capital funds (with proceeds to be turned over to the Adviser), this filing reflects a plan grant/arrangement rather than a direct personal purchase or sale.