Insight funds (NASDAQ: HNGE) convert Class B and sell 727,793 Class A shares
Rhea-AI Filing Summary
Hinge Health, Inc. disclosed that Insight-affiliated investment entities, all reported as ten-percent owners, carried out a series of conversions and open‑market sales involving its Class A and Class B common stock. Over June 22–24, the entities converted a total of 870,104 Class B shares into Class A through derivative conversions coded "C" at a stated conversion price of $0.00 per share.
Across the same dates, they executed 727,793 Class A shares of open‑market sales (code "S") at prices generally around $70–$72 per share, including transactions at $71.6669, $71.1994, $70.8361 and $70.2145. Several non‑derivative transaction lines show zero Class A shares remaining after specific sale blocks, while related derivative entries show that Insight-controlled entities continue to hold indirect positions of Class B common stock in the millions of shares following these conversions.
Positive
- None.
Negative
- None.
Insights
Large Insight funds converted Class B into Class A and sold shares, a net-sell but largely structural move.
The reporting persons are multiple Insight investment entities, each listed as a ten‑percent owner of Hinge Health (HNGE). The filing shows 24 derivative conversions (code "C") totaling 870,104 Class B shares into Class A and 18 open‑market sales (code "S") totaling 727,793 Class A shares. Conversions at a stated $0.00 price indicate these were equity restructurings rather than cash purchases.
The core signal for public investors comes from the open‑market sales: they were executed between roughly $70 and $72 per share around June 22–24. At the same time, derivative entries show Insight-controlled entities still holding several million Class B shares indirectly. Overall, this looks like a significant but portfolio‑style liquidity and share‑class adjustment by a large financial sponsor, rather than a complete exit, with detailed ownership levels and any aggregation across funds needing to be taken directly from the full Form 4 and its Exhibit 99.1.
Insider Trade Summary 10b5-1
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 266,290 | $0.00 | -- |
| Conversion | Class B Common Stock | 6,336 | $0.00 | -- |
| Conversion | Class B Common Stock | 218,362 | $0.00 | -- |
| Conversion | Class B Common Stock | 42,240 | $0.00 | -- |
| Conversion | Class A Common Stock | 266,290 | $0.00 | -- |
| Conversion | Class A Common Stock | 6,336 | $0.00 | -- |
| Conversion | Class A Common Stock | 218,362 | $0.00 | -- |
| Conversion | Class A Common Stock | 42,240 | $0.00 | -- |
| Sale | Class A Common Stock | 120,873 | $70.8361 | $8.56M |
| Sale | Class A Common Stock | 2,876 | $70.8361 | $204K |
| Sale | Class A Common Stock | 99,118 | $70.8361 | $7.02M |
| Sale | Class A Common Stock | 19,173 | $70.8361 | $1.36M |
| Sale | Class A Common Stock | 145,417 | $71.6669 | $10.42M |
| Sale | Class A Common Stock | 3,460 | $71.6669 | $248K |
| Conversion | Class B Common Stock | 56,171 | $0.00 | -- |
| Conversion | Class B Common Stock | 1,336 | $0.00 | -- |
| Conversion | Class B Common Stock | 46,060 | $0.00 | -- |
| Conversion | Class B Common Stock | 8,910 | $0.00 | -- |
| Conversion | Class A Common Stock | 56,171 | $0.00 | -- |
| Conversion | Class A Common Stock | 1,336 | $0.00 | -- |
| Conversion | Class A Common Stock | 46,060 | $0.00 | -- |
| Conversion | Class A Common Stock | 8,910 | $0.00 | -- |
| Sale | Class A Common Stock | 56,171 | $70.2145 | $3.94M |
| Sale | Class A Common Stock | 1,336 | $70.2145 | $94K |
| Sale | Class A Common Stock | 46,060 | $70.2145 | $3.23M |
| Sale | Class A Common Stock | 8,910 | $70.2145 | $626K |
| Conversion | Class B Common Stock | 112,064 | $0.00 | -- |
| Conversion | Class B Common Stock | 2,666 | $0.00 | -- |
| Conversion | Class B Common Stock | 91,893 | $0.00 | -- |
| Conversion | Class B Common Stock | 17,776 | $0.00 | -- |
| Conversion | Class A Common Stock | 112,064 | $0.00 | -- |
| Conversion | Class A Common Stock | 2,666 | $0.00 | -- |
| Conversion | Class A Common Stock | 91,893 | $0.00 | -- |
| Conversion | Class A Common Stock | 17,776 | $0.00 | -- |
| Sale | Class A Common Stock | 60,888 | $70.7478 | $4.31M |
| Sale | Class A Common Stock | 1,449 | $70.7478 | $103K |
| Sale | Class A Common Stock | 49,929 | $70.7478 | $3.53M |
| Sale | Class A Common Stock | 9,658 | $70.7478 | $683K |
| Sale | Class A Common Stock | 51,176 | $71.1994 | $3.64M |
| Sale | Class A Common Stock | 1,217 | $71.1994 | $87K |
| Sale | Class A Common Stock | 41,964 | $71.1994 | $2.99M |
| Sale | Class A Common Stock | 8,118 | $71.1994 | $578K |
Footnotes (1)
- See Exhibit 99.1 See Exhibit 99.1 See Exhibit 99.1 See Exhibit 99.1 See Exhibit 99.1 See Exhibit 99.1 See Exhibit 99.1 See Exhibit 99.1 See Exhibit 99.1 See Exhibit 99.1 See Exhibit 99.1 See Exhibit 99.1 See Exhibit 99.1 See Exhibit 99.1