Form 4: Hinge Health CEO Sells $8.09M in Class A Stock

Hinge Health CEO Daniel Perez executed pre-planned sales of Class A common stock totaling approximately $8.09 million, following a conversion from Class B shares.

Summary

• Daniel Antonio Perez, CEO & Co-Founder, Director, and 10% Owner of Hinge Health, Inc. (HNGE), reported transactions on December 15, 2025.
• Perez converted 166,670 shares of Class B Common Stock into an equal number of Class A Common Stock.
• Subsequently, he sold 161,250 shares of Class A Common Stock at a weighted average price of $48.5031 per share, with prices ranging from $47.98 to $48.96.
• He also sold an additional 5,420 shares of Class A Common Stock at a weighted average price of $49.2962 per share, with prices ranging from $49.00 to $49.58.
• These sales were conducted under a Rule 10b5-1 trading plan adopted on September 11, 2025.
• Following these transactions, Perez directly holds 0 shares of Class A Common Stock and 14,543,427 shares of Class B Common Stock.
• His spouse indirectly holds 35,470 shares of Class A Common Stock and 515,705 shares of Class B Common Stock.

Sentiment

Score: 5

Explanation: The transactions represent a significant insider sale by the CEO, which could be viewed negatively. However, the sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which mitigates the immediate negative signal as they are not reactive to recent company performance.

Positives

• The sales were executed under a pre-arranged Rule 10b5-1 trading plan, indicating a planned liquidity event rather than a reaction to recent negative company news.

Negatives

• A significant sale of Class A common stock by a CEO, Director, and 10% owner could be perceived negatively by some investors, potentially signaling a lack of confidence, even if pre-planned.
• The direct beneficial ownership of Class A Common Stock by the reporting person is now 0.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: May interpret the large insider sale as a negative signal, potentially impacting stock price, despite the 10b5-1 plan.

Key Dates

Recommendation

While a significant insider sale by the CEO could be a cause for concern, the fact that it was executed under a pre-arranged Rule 10b5-1 trading plan adopted months prior suggests it's a planned liquidity event rather than a reaction to adverse company developments. Investors should monitor future filings and company performance, but this specific transaction alone does not warrant a change from a 'hold' position without further context. The CEO still retains a substantial indirect holding and a very large direct holding of Class B shares, which are convertible to Class A.

Keywords

Hinge Health, HNGE, Insider Trading, Form 4, Stock Sale, CEO, Daniel Perez, Rule 10b5-1, Class A Common Stock, Class B Common Stock, Beneficial Ownership