Mecklenburg Gabriel M.I. 4

What Happened
Gabriel M.I. Mecklenburg, Executive Chairman and Co‑Founder of Hinge Health (HNGE), converted 50,000 shares of Class B common into Class A common and sold 50,000 Class A shares in open‑market transactions on April 1, 2026. The sales comprised 49,332 shares at a weighted average price of $38.45 (proceeds $1,896,717) and 668 shares at a weighted average price of $39.02 (proceeds $26,063), for total cash proceeds of $1,922,780. The conversion entries are reported at $0.00 per share (no cash paid on conversion).

Key Details

• Transaction date: April 1, 2026; Form 4 filed April 2, 2026 (timely filing).
• Sales: 50,000 shares sold total — 49,332 @ $38.45 (weighted avg; range $37.86–$38.85) and 668 @ $39.02 (range $38.87–$39.05). Total proceeds ≈ $1,922,780. Overall weighted avg ≈ $38.46/share.
• Conversions: 50,000 Class B → Class A reported as derivative conversions at $0.00 per share. (Footnote F4: Class B shares are convertible into Class A.)
• Plan/authority: Sales were executed under a Rule 10b5‑1 trading plan adopted Dec 1, 2025 (Footnote F1).
• Holdings note: Filing excludes 944,250 performance stock units held by the reporting person (Footnote F5). Post‑transaction total common shares held was not specified in the provided excerpt.

Context
This was a conversion followed by an open‑market sale under a pre‑arranged 10b5‑1 plan — a routine way insiders sell shares that limits timing discretion. The filing is factual and does not state motivation. Conversion at $0.00 indicates a non‑cash conversion of Class B into Class A per the charter; the converted shares were then sold. Purchases are typically more informative than sales; here the transaction is a liquidity event by a senior executive.