Richard Welker Adams III - 07 May 2026 Form 4 Insider Report for Enhanced Group Inc. (APAD)

Reporting relationship: Chief Sporting Officer
Issuer ticker: APAD
Reported as of: 07 May 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 11 May 2026, 19:34:22 UTC
Source filing: View source filing
Reporting owner signature: /s/ Emily Tabak, attorney-in-fact for Mr. Adams

Key filing fact

Richard Welker Adams III filed Form 4 for Enhanced Group Inc. (APAD) on 11 May 2026.

Key facts

This page summarizes Richard Welker Adams III's Form 4 filing for Enhanced Group Inc. (APAD).
2 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 11 May 2026, 19:34.

Change

No earlier filing in this sequence is available for direct comparison.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0002130378 Primary reporting owner

Adams Richard Welker III

Relationship: Chief Sporting Officer
Address: C/O ENHANCED GROUP INC., 169 MADISON AVENUE, SUITE 15101, NEW YORK
Signature: /s/ Emily Tabak, attorney-in-fact for Mr. Adams
Signature date: 11 May 2026

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

APAD transaction Derivative

Stock Option (Right to buy)

Award

Transaction value
Shares: +570,159
Change %
Price
Shares after: 570,159
Date: 07 May 2026
Ownership: Direct
Underlying class: Class A common stock
Underlying amount: 570,159
Exercise price: $1.23
Footnotes: F1, F2, F3, F4

APAD transaction Derivative

Award (Right to receive)

Award

Transaction value
Shares: +45,141
Change %
Price: $0.000000^*
Shares after: 45,141
Date: 07 May 2026
Ownership: Direct
Underlying class: Class A common stock
Underlying amount: 45,141
Exercise price: $0.000000
Footnotes: F1, F5

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 5 footnotes

Footnote F1

Consists of securities acquired in connection with the transactions consummated on May 7, 2026, pursuant to that certain Business Combination Agreement, dated November 26, 2025 (the "Business Combination Agreement"), by and among A Paradise Acquisition Corp. ("A Paradise"), A Paradise Merger Sub 1 Inc. ("Merger Sub"), and Enhanced Ltd. ("Enhanced"), pursuant to which (i) Merger Sub merged with and into Enhanced, the separate corporate existence of Merger Sub ceased and Enhanced was the surviving corporation and a wholly owned subsidiary of A Paradise, (ii) Enhanced merged with and into A Paradise, the separate corporate existence of Enhanced ceased and A Paradise was the surviving corporation, and (iii) A Paradise changed its name to "Enhanced Group Inc." (the "Issuer") (the "Business Combination").

Footnote F2

The acquisition of the Stock Options for Class A common stock, par value $0.0001, of the Issuer ("Class A common stock"), is exempt from Section 16(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") pursuant to Rule 16b-3 under the Exchange Act. This Form 4 only reports the acquisition of securities of the Reporting Person pursuant to the Business Combination Agreement and does not reflect the purchase of securities by the Reporting Person.

Footnote F3

The options were originally granted on October 29, 2025 and vest monthly over a four-year period measured from August 12, 2024 (the "Vesting Start Date"), subject to a one-year cliff.

Footnote F4

In connection with the closing of the Business Combination, each outstanding option to purchase Enhanced common shares, whether vested or unvested, was exchanged for a comparable option to purchase that number of shares of Class A common stock of the Issuer based on the exchange ratio as defined in the Business Combination Agreement (the "Exchange Ratio"). The exercise price for each such option was also accordingly adjusted based on the Exchange Ratio.

Footnote F5

The award will be paid by the Issuer in 2026 in a lump sum of shares of Class A common stock. In connection with the closing of the Business Combination, each award to receive Enhanced common shares was exchanged for a comparable award to receive a number of shares of Class A common stock of the Issuer based on the Exchange Ratio.