Enhanced Group director buys 6.1M shares

Entities associated with a director and ten percent owner of ENHA bought over 6.0 million Class A shares, raising their indirect holdings above 43.3 million shares.

Rhea-AI Filing Summary

Enhanced Group Inc. (ENHA) reported that entities associated with director and ten percent owner Christian Angermayer purchased 6,080,047 shares of Class A Common Stock on September 17, 2026 at $1.15 per share, in an open-market or private transaction.

The shares are held of record by Apeiron Investment Group Ltd. as nominee for Enhanced Holdings LP, and the reporting persons may be deemed to share beneficial ownership of a total of 43,343,818 shares held indirectly after this transaction. No Rule 10b5-1 trading plan is reported for this purchase.

Insider Trade Summary

Net Buyer: 6,080,047 shares

Net Buy 1 txn

Insider Apeiron Investment Group Ltd., Enhanced Holdings LP, Angermayer Christian

Role Director, 10% Owner | Director, 10% Owner | Director, 10% Owner

Bought 6,080,047 shs ($6.99M)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock F1	6,080,047	$1.15	$6.99M

Holdings After Transaction: Class A Common Stock — 43,343,818 shares (Indirect, See Footnote)

Footnotes (1)

1. F1. The securities reported herein are held of record by Apeiron Investment Group Ltd. ("Apeiron"), as nominee for Enhanced Holdings LP. Christian Angermayer is the sole voting shareholder of Apeiron, which is the sole shareholder of Enhanced Holdings GP, which is the general partner of Enhanced Holdings LP. As a result, each of the foregoing entities and Mr. Angermayer may be deemed to share beneficial ownership over the securities reported herein. Mr. Angermayer disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Key Figures

Shares purchased: 6,080,047 shares Purchase price per share: $1.15 per share Shares held after transaction: 43,343,818 shares

3 metrics

Shares purchased 6,080,047 shares Class A Common Stock purchased on September 17, 2026

Purchase price per share $1.15 per share Price paid for the 6,080,047 Class A shares

Shares held after transaction 43,343,818 shares Indirect beneficial ownership after the reported purchase

Key Terms

beneficial ownership, pecuniary interest, general partner

3 terms

beneficial ownership financial

"may be deemed to share beneficial ownership over the securities reported"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"disclaims beneficial ownership of such securities except to the extent of his pecuniary interest"

general partner financial

"Enhanced Holdings GP, which is the general partner of Enhanced Holdings LP"

A general partner is the person or firm that runs an investment partnership and legally represents it — they make the day-to-day decisions, choose which assets to buy or sell, and are responsible for the partnership’s obligations. Investors care because the general partner’s judgment, risk-taking and fee and profit-sharing arrangements determine both the potential returns and the level of exposure to losses; think of the GP as the ship’s captain whose skill and honesty shape the voyage’s outcome.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did ENHA report in this Form 4?

Enhanced Group Inc. reported that entities associated with director and ten percent owner Christian Angermayer purchased 6,080,047 shares of Class A Common Stock on September 17, 2026 at $1.15 per share in an open-market or private transaction, held indirectly through affiliated entities.

How many ENHA shares do the reporting persons hold after this transaction?

Following the reported purchase, the filing states that the reporting persons may be deemed to beneficially own 43,343,818 shares of Enhanced Group Inc. Class A Common Stock held indirectly through the affiliated entities.

Who actually holds the ENHA shares reported in this Form 4?

The securities are held of record by Apeiron Investment Group Ltd. as nominee for Enhanced Holdings LP. Christian Angermayer controls the entities in the ownership chain and may be deemed to share beneficial ownership, subject to his pecuniary interest.

Was the ENHA insider purchase made under a Rule 10b5-1 trading plan?

No. The Form 4 indicates that the Rule 10b5-1 checkbox is not marked, and there is no footnote stating that the 6,080,047-share purchase at $1.15 per share was made pursuant to a Rule 10b5-1 or other pre-arranged trading plan.

What ownership disclaimer does Christian Angermayer make regarding ENHA shares?

The footnote states that Christian Angermayer may be deemed to share beneficial ownership of the reported ENHA securities through the affiliated entities but disclaims beneficial ownership of such securities except to the extent of his pecuniary interest in them.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/21/2026 - 09:30 PM Accepted by SEC EDGAR 09/21/2026 - 09:30 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Apeiron Investment Group Ltd.

(Last) (First) (Middle)

TRIQ IS-SALIB TAL-IMRIEHEL

ZONE 3, CBD

(Street)

BIRKIRKARA MALTA 3020

(City) (State) (Zip)

MALTA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Enhanced Group Inc. [ ENHA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/17/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/17/2026		P		6,080,047	A	$1.15	43,343,818	I	See Footnote(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Apeiron Investment Group Ltd.

(Last) (First) (Middle)

TRIQ IS-SALIB TAL-IMRIEHEL

ZONE 3, CBD

(Street)

BIRKIRKARA MALTA 3020

(City) (State) (Zip)

MALTA

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Enhanced Holdings LP

(Last) (First) (Middle)

TRIQ IS-SALIB TAL-IMRIEHEL

ZONE 3, CBD

(Street)

BIRKIRKARA MALTA 3020

(City) (State) (Zip)

MALTA

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Angermayer Christian

(Last) (First) (Middle)

TRIQ IS-SALIB TAL-IMRIEHEL

ZONE 3, CBD

(Street)

BIRKIRKARA MALTA 3020

(City) (State) (Zip)

MALTA

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The securities reported herein are held of record by Apeiron Investment Group Ltd. ("Apeiron"), as nominee for Enhanced Holdings LP. Christian Angermayer is the sole voting shareholder of Apeiron, which is the sole shareholder of Enhanced Holdings GP, which is the general partner of Enhanced Holdings LP. As a result, each of the foregoing entities and Mr. Angermayer may be deemed to share beneficial ownership over the securities reported herein. Mr. Angermayer disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

	Apeiron Investment Group Ltd., By: /s/ Sanad Abushala, Director	09/21/2026
	Enhanced Holdings GP, By: Apeiron Investment Group Ltd., its sole stockholder, By: /s/ Sanad Abushala, Director	09/21/2026
	Enhanced Holdings LP, By: Enhanced Holdings GP, its general partner, By: Apeiron Investment Group Ltd., its sole stockholder, By: /s/ Sanad Abushala, Director	09/21/2026
	/s/ Christian Angermayer	09/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)