SpyGlass Pharma, Inc. 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed on February 12, 2026, by SpyGlass Pharma, Inc., a Delaware corporation trading on the Nasdaq under the symbol SGP. The filing addresses the determination and disclosure of performance cash bonuses for Named Executive Officers (NEOs) for the fiscal year ended December 31, 2025. This disclosure updates a prior Registration Statement on Form S-1 (File No. 333-292779) filed on January 16, 2026.
Key Financial Metrics
The filing does not provide company-wide revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial data presented relates to executive compensation for fiscal years 2024 and 2025.
| Executive | Position | 2025 Total Comp ($) | 2024 Total Comp ($) | 2025 Non-Equity Bonus ($) |
|---|---|---|---|---|
| Patrick Mooney | CEO | 3,322,711 | 1,035,047 | 215,088 |
| Malik Y. Kahook, M.D. | President, CMO, Exec Chair | 2,484,469 | 379,454 | 125,975 |
| Chetan Pujara, Ph.D. | Chief R&D Officer | 1,539,952 | N/A | 126,289 |
Note: Dr. Pujara commenced employment in February 2025; therefore, no 2024 compensation is reported. The "Non-Equity Incentive Plan Compensation" column reflects the newly approved performance cash bonuses.
Material Changes
- Executive Compensation Update: The Compensation Committee approved performance cash bonuses for fiscal year 2025 on February 12, 2026, which were previously undetermined in the S-1 filing.
- Compensation Growth: Total compensation for the CEO increased from approximately $1.04 million in 2024 to $3.32 million in 2025, driven primarily by a significant increase in Option Awards ($463,779 in 2024 vs. $2,662,934 in 2025) and the addition of the performance cash bonus.
- New Executive: Dr. Chetan Pujara joined as Chief Research & Development Officer in February 2025, resulting in his first full year of reported compensation in 2025.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, market outlook, or discussion of general business risks. The primary contingency noted is the timing of the bonus payments, which are scheduled to be paid shortly following the February 12, 2026 approval. The filing references specific consulting agreements for Dr. Pujara (Oasis Consulting) and Dr. Kahook (University of Colorado Medicine) as the source of certain "All Other Compensation" figures.
Investor Verification Checklist
- Verify the specific performance metrics used by the Compensation Committee to calculate the 2025 cash bonuses for the CEO and other NEOs.
- Review the "Agreements with our Named Executive Officers" section in the referenced Form S-1 to understand the terms of the consulting agreements with Oasis Consulting and University of Colorado Medicine.
- Confirm the valuation assumptions used for the 2025 Option Awards, which represent the largest component of compensation for the CEO and President.
- Check subsequent filings for the actual payment dates of the approved bonuses.