SGP SpyGlass Pharma, Inc. Insider Trading

Director Khan Bilal Arshad bought 135,000 shares ($2,160,000) on Feb 9 at $16.00; post-transaction holdings 251,427 shares (+116.0%)

Khan Bilal Arshad, a Director at SpyGlass Pharma, executed two separate purchases totaling 135,000 shares for $2,160,000.00 on 2026-02-09, just four trading days after the company's IPO. This represents a 116.0% increase to his prior shareholding of 116,427 shares, bringing his post-transaction position to 251,427 shares. The transaction occurred at $16.00, the offer price in SpyGlass's recent listing. Notably, this purchase is part of a broader cluster pattern: 14 other insiders also acquired shares within the past 14 days, suggesting coordinated accumulation among the leadership cohort following the IPO. For a newly public company still in early price discovery, insider participation in this magnitude and frequency merits close investor scrutiny regarding the board's conviction in the business at its public valuation.

10% Owner Baskett Forest bought 937,500 shares of SGP at $16.00 for $15.0M on 2026-02-09; current price $27.55.

Baskett Forest, a 10% shareholder, purchased 937,500 shares at $16.00 for a total value of $15,000,000.00, increasing holdings from 419,763 shares to 1,357,263 shares—a +223.3% increase in pre-transaction holdings. The stock has appreciated 72% since the purchase (trading at $27.55 as of 2026-02-11), four trading days after the transaction. Notably, 14 other insiders also bought within the past 14 days, establishing a cluster buy pattern that suggests broad insider conviction across multiple stakeholders. The derivative-conversion nature of this filing indicates the insider's position also includes unconverted securities not yet reflected in Table I, so the reported post-transaction holdings represent a partial view of total economic exposure.

RA Capital Management (Director) purchased 3,690,000 shares for $59,040,000.00 at $16.00 on 2026-02-09; concurrent cluster buy by 14 insiders in 14 days.

RA Capital Management, L.P., as a director, deployed $59,040,000.00 across 2 separate purchases totaling 3,690,000 shares at $16.00 per share on 2026-02-09. The current price of $27.55 reflects a 72% markup from transaction price, though given SGP's recent listing (4 trading days), this price movement may reflect initial volatility rather than fundamental reassessment. Notably, 14 other insiders also purchased shares within the same 14-day window, establishing a cluster buy pattern that suggests aligned conviction among multiple stakeholders at the same price point. The filing flagged derivative securities conversion activity; this Table I position of 2,054,678 shares post-transaction does not represent the insider's total holding and should not be read as a near-complete position exit.

10% Owner Mathers buys 937,500 shares (937.5K) of SGP at $16.00; 14 other insiders also bought within 14 days

Mathers Edward T, a 10% owner, purchased 937,500 shares at $16.00 on 2026-02-09, increasing his holdings to 6,035,038 shares (+18.4% vs pre-transaction). The stock currently trades at $27.55, reflecting a 72% gain from the purchase price in just 4 trading days since listing. Most significantly, this purchase is part of a broader cluster in which 14 other insiders also bought within the past 14 days, indicating coordinated insider accumulation at lower valuations ahead of the recent price appreciation. While the stock is only 4 trading days into public trading and meaningful historical metrics are not yet available, the convergence of a major shareholder's large-scale purchase with a multi-insider cluster pattern warrants close examination of the transaction circumstances and any non-public information that may have motivated synchronized buying.

10% Owner Yang Rick bought 937,500 shares (18.4% increase) for $15.0M at $16.00; 14-insider cluster buy in 4-day-old IPO.

Yang Rick, a 10% owner, purchased 937,500 shares at $16.00 for $15,000,000.00, increasing his holdings from 5,097,538 to 6,035,038 shares (+18.4% vs pre-transaction holdings). The transaction occurred just 4 trading days after SpyGlass Pharma's recent listing, with the stock now trading at $27.55. This purchase is part of a cluster pattern: 14 other insiders also bought within the past 14 days, indicating coordinated accumulation at the IPO base. The filing contains a derivative-conversion transaction (Table II not yet populated); the shares_after figure represents only the Table I conversion, not the insider's total derivative position. The substantial buy volume across the insider group and the 72% markup from purchase price to current price suggests strong early confidence in the company's post-listing trajectory, though investors should note this is a very recent public company with limited trading history.

10% Owner Scott D. Sandell buys 937,500 shares of SGP at $16.00 for $15.0M, bringing stake to 1,357,263 shares (+223.3%)

Scott D. Sandell, a 10% owner, purchased 937,500 shares at $16.00 on 2026-02-09, increasing his holding from 419,763 shares to 1,357,263 shares—a 223.3% increase in his pre-transaction position. This $15.0M transaction occurs within 4 trading days of the company's recent listing and coincides with 14 other insider purchases within the past 14 days, establishing a coordinated cluster buy pattern. The stock now trades at $27.55 (as of 2026-02-11), representing a 72.2% premium to Sandell's transaction price, though 52-week comparisons are not yet meaningful given the recent listing. This concentrated accumulation by a major shareholder alongside broad insider interest warrants investor attention, particularly given the structure of derivative holdings flagged in the filing that may not be fully captured in the reported post-transaction share count.

10% Owner Walker Paul Edward buys 937,500 shares of SGP at $16.00 ($15.0M); 14 insiders bought within past 14 days

Walker Paul Edward, a 10% owner, purchased 937,500 shares at $16.00 on 2026-02-09, increasing his holdings from 419.8K to 1.36M shares (+223.3% vs pre-transaction holdings). This $15.0M buy occurs in the context of a cluster pattern: 14 other insiders also bought within the past 14 days, suggesting coordinated or parallel confidence in the newly-listed stock (4 trading days old). The insider's holdings have been substantially expanded at an entry price ($16.00) that sits below the current price of $27.55 as of 2026-02-11. Note that derivative securities conversion is present in this filing; the Table I shares_after do not represent the insider's complete position, and full holdings data awaits population of Table II derivative holdings in the database.

10% owner Florence Anthony Jr. purchases 937,500 shares of SGP at $16.00 for $15.0M; cluster buy signal with 14 other insiders buying in past 14 days.

Florence Anthony Jr., a 10% owner, deployed $15,000,000 to acquire 937,500 shares at $16.00 on 2026-02-09, increasing his stake from 419,763 shares to 1,357,263 shares (a +223.3% increase relative to pre-transaction holdings). This transaction occurs in a cluster context: 14 other insiders also bought within the past 14 days, signaling coordinated accumulation across the insider base. The stock has appreciated 72.2% from the transaction price ($16.00) to the current price of $27.55 in just four trading days post-IPO, though 52-week metrics remain uninformative. The substantial dollar commitment by a major shareholder, paired with synchronized buying across multiple insiders, suggests organized conviction regarding the company's near-term prospects immediately following its recent listing.

Director Behbahani bought 937,500 SGP shares at $16.00 ($15.0M); 14 insiders also bought within 14 days—cluster pattern.

Director Ali Behbahani purchased 937,500 shares at $16.00 on 2026-02-09, expanding his holdings to 1,357,263 shares post-transaction, a +223.3% increase from prior holdings of 419,763 shares. This $15.0M buy occurs in the context of a cluster pattern: 14 other insiders also purchased within the past 14 days. The stock has appreciated from the $16.00 transaction price to $27.55 current price in just 4 trading days. Notably, this filing contains derivative securities conversions (Table II is not yet populated in our database), so the reported Table I holdings do not represent the insider's complete position and should not be treated as such.

10% Owner Makhzoumi Mohamad buys 937,500 shares ($15.0M) at $16.00; cluster of 14 other insiders bought within 14 days

Makhzoumi Mohamad, a 10% owner, purchased 937,500 shares for $15,000,000.00 at $16.00 on 2026-02-09, increasing his position from 419,763 shares to 1,357,263 shares (a +223.3% net increase). This transaction involves a derivative conversion and represents a substantial capital commitment by a significant shareholder. The filing reveals a cluster pattern: 14 other insiders also bought within the past 14 days, indicating coordinated insider accumulation at a recent IPO (4 trading days post-listing). The synchronized buying across multiple insiders during the stock's early public trading period is noteworthy, though the stock's limited public history means longer-term price context is not yet available.