Hinge Health (HNGE) 10% Owner Daniel Perez Sells Shares

What Happened
Daniel Antonio Perez (reported as a 10% owner) converted derivative securities into common stock and on September 10, 2026 disposed of 295,000 shares total: he sold 250,000 shares in multiple open‑market transactions for aggregate proceeds of about $22.36 million and gifted 45,000 shares (no proceeds). The conversions were recorded at $0 (zero‑dollar conversions). The sales were effected under a Rule 10b5‑1 trading plan adopted by Perez and his spouse on June 11, 2026.

Key Details

• Transaction date: September 10, 2026; Form filed September 11, 2026 (filed promptly the next day).
• Sales: 250,000 shares sold across multiple transactions; total proceeds ≈ $22,361,643. Weighted sale prices and ranges vary by lot; overall reported sale prices ranged roughly from $87.44 to $91.76 per share.
• Conversions/Gift: 295,000 shares converted from derivative securities (zero cost), and 45,000 shares were gifted (no proceeds). Net effect: converted 295,000 shares and disposed of 295,000 shares (250k sold + 45k gifted).
• Footnotes of note: sales were executed under a 10b5‑1 plan (F1); conversion/convertibility of Class B to Class A is described (F11); reporting excludes 3,777,002 performance‑based RSUs held by Perez (F12). The filer offered to provide per‑price breakdowns on request (various F2–F10 notes).

Context

• Conversion explanation: the “conversion of derivative security” entries reflect converting convertible securities/Class B shares into Class A common stock (recorded at $0 per share); those converted shares were then either sold or gifted.
• Gift vs sale: the 45,000‑share gift is a non‑cash transfer and does not directly signal buy/sell sentiment.
• 10% owner note: as a 10% owner, Perez’s transactions are reported under insider rules and may reflect planned liquidity actions rather than spontaneous market views.
• No indication in the filing of late reporting; sales were made under a pre‑existing 10b5‑1 plan.