Director linked to SpyGlass Pharma (SGP) updates IPO-related share conversion
Filing Impact
Filing Sentiment
Form Type
4/A
Rhea-AI Filing Summary
A director of SpyGlass Pharma, Inc. filed an amended insider trading report updating how many shares are indirectly owned following the company’s initial public offering. The filing shows indirect beneficial ownership of 3,310,619 shares of common stock held through Vensana Capital I, L.P.
The amendment restates derivative holdings to reflect that shares of Series B, Series C-1, Series C-2 and Series D preferred stock, totaling 1,690,230, 548,067, 548,067 and 359,255 shares respectively, automatically converted on a one-for-one basis into common stock before the IPO closing.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,145,619 shares exercised/converted
Mixed
5 txns
Insider
Nielsen Kirk G.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series B Preferred Stock | 1,690,230 | $0.00 | -- |
| Conversion | Series C-1 Preferred Stock | 548,067 | $0.00 | -- |
| Conversion | Series C-2 Preferred Stock | 548,067 | $0.00 | -- |
| Conversion | Series D Preferred Stock | 359,255 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Series B Preferred Stock — 0 shares (Indirect, See footnote);
Series C-1 Preferred Stock — 0 shares (Indirect, See footnote);
Series C-2 Preferred Stock — 0 shares (Indirect, See Footnote);
Series D Preferred Stock — 0 shares (Indirect, See Footnote);
Common Stock — 3,310,619 shares (Indirect, See footnote)
Footnotes (1)
- 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") prior to the closing of the Issuer's initial public offering of its Common Stock without payment of additional consideration and such preferred stock had no expiration date. These shares are held directly by Vensana Capital I, L.P. ("Vensana I"). Vensana Capital I GP, LLC ("Vensana GP I") is the general partner of Vensana I. Each of the Reporting Person, a member of the Issuer's board of directors, and Peter Justin Klein (the "GP I Managing Directors") is a managing director of Vensana GP I. Each of Vensana GP I and the GP I Managing Directors, in their capacities with respect to Vensana GP I, may be deemed to share voting, investment and dispositive power with respect to the shares held by Vensana I. Each of Vensana GP I and the GP I Managing Directors disclaims beneficial ownership of the these securities and this report shall not be deemed an admission that any one of Vensana GP I or the GP I Managing Directors is the beneficial owner of such securities for purposes of Section 16 or for any other purpose, except to the extent of their respective pecuniary interests therein.
FAQ
What does the latest Form 4/A for SpyGlass Pharma (SGP) report?
The Form 4/A reports updated insider holdings after SpyGlass Pharma’s preferred stock automatically converted into common stock before its initial public offering, restating derivative positions to match the one-for-one conversion into common shares.
Which preferred stock series of SpyGlass Pharma (SGP) were converted to common stock?
Series B, Series C-1, Series C-2 and Series D preferred stock were converted. They automatically converted on a one-for-one basis into SpyGlass Pharma common stock prior to the closing of the company’s initial public offering.
Why was the SpyGlass Pharma (SGP) insider report amended on February 11, 2026?
The report was amended to correct the number of shares shown in Column 5 of Table II in the prior filing, aligning the derivative share counts with the preferred stock’s one-for-one conversion into common stock before SpyGlass Pharma’s initial public offering.