VENSANA CAPITAL I GP, LLC purchased 5.2% of their position (165K shares) of SPYGLASS PHARMA, INC. on the open market

Open‑market purchase worth $2.64M — a moderate purchase. The strongest form of insider conviction signal.

P · 1 purchase

VENSANA CAPITAL I GP, LLC

Filed: 2/10/2026ACC: 0001193125-26-045028

InsiderVENSANA CAPITAL I GP, LLCCIK 1854073

→

IssuerSPYGLASS PHARMA, INC.CIK 1778922

10% Owner

Since Feb 2026

-14.72M

Net shares

Net seller

$2.64M

Total acquired

Open market trades

1B · 0S

Total transactions

3.31M acquired · 18.03M disposed

Non-Derivative Transactions5

Common Stock

Indirect

C · Conversion

+1.69M

Price / share

—

Trade value

—

% of position

New position

2/9/2026

0.00→1.69M

Common Stock

Indirect

C · Conversion

+548.07K

Price / share

—

Trade value

—

% of position

32.4%

2/9/2026

1.69M→2.24M

Common Stock

Indirect

C · Conversion

+548.07K

Price / share

—

Trade value

—

% of position

24.5%

2/9/2026

2.24M→2.79M

Common Stock

Indirect

C · Conversion

+359.25K

Price / share

—

Trade value

—

% of position

12.9%

2/9/2026

2.79M→3.15M

Common Stock

Indirect

P · Purchase

+165K

Price / share

$16.00

Trade value

$2.64M

% of position

5.2%

2/9/2026

3.15M→3.31M

Total

Net shares

+3.31M

Net value

$2.64M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Indirect	2/9/2026	C · Conversion	+1.69M	—	—	New position	0.00	1.69M
Common Stock Indirect	2/9/2026	C · Conversion	+548.07K	—	—	32.4%	1.69M	2.24M
Common Stock Indirect	2/9/2026	C · Conversion	+548.07K	—	—	24.5%	2.24M	2.79M
Common Stock Indirect	2/9/2026	C · Conversion	+359.25K	—	—	12.9%	2.79M	3.15M
Common Stock Indirect	2/9/2026	P · Purchase	+165K	$16.00	$2.64M	5.2%	3.15M	3.31M
Total			+3.31M		$2.64M

Derivative Transactions4

Series B Preferred Stock

Indirect

C · Conversion

Converts to

Common Stock

1.69M shares

−9.69M

Strike price

Held after

0.00

Exercisable

—

2/9/2026

Series C-1 Preferred Stock

Indirect

C · Conversion

Converts to

Common Stock

548.07K shares

−3.14M

Strike price

Held after

0.00

Exercisable

—

2/9/2026

Series C-2 Preferred Stock

Indirect

C · Conversion

Converts to

Common Stock

548.07K shares

−3.14M

Strike price

Held after

0.00

Exercisable

—

2/9/2026

Series D Preferred Stock

Indirect

C · Conversion

Converts to

Common Stock

359.25K shares

−2.06M

Strike price

Held after

0.00

Exercisable

—

2/9/2026

Security	Converts To	Date	Type	Shares	Exercisable
Series B Preferred Stock Indirect	Common Stock1.69M shares	2/9/2026	C · Conversion	−9.69M	—
Series C-1 Preferred Stock Indirect	Common Stock548.07K shares	2/9/2026	C · Conversion	−3.14M	—
Series C-2 Preferred Stock Indirect	Common Stock548.07K shares	2/9/2026	C · Conversion	−3.14M	—
Series D Preferred Stock Indirect	Common Stock359.25K shares	2/9/2026	C · Conversion	−2.06M	—