# EDGAR Filing Document

**Accession Number:** 0002130452
**File Stem:** 0001628279-26-000613
**Filing Date:** 2026-5
**Character Count:** 19436
**Document Hash:** a56a104c4a03408636cf7125b2258a3d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628279-26-000613.hdr.sgml**: 20260514

**ACCESSION NUMBER**: 0001628279-26-000613

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260514

**DATE AS OF CHANGE**: 20260514

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Enhanced Group Inc.
- **CENTRAL INDEX KEY:** 0001956439
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95139
- **FILM NUMBER:** 26980750

**BUSINESS ADDRESS:**
- **STREET 1:** 169 MADISON AVENUE
- **STREET 2:** SUITE 15101
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016
- **BUSINESS PHONE:** 3472483345

**MAIL ADDRESS:**
- **STREET 1:** 169 MADISON AVENUE
- **STREET 2:** SUITE 15101
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AParadise Acquisition Corp.
- **DATE OF NAME CHANGE:** 20241022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AParadigm Acquisition Corp.
- **DATE OF NAME CHANGE:** 20230118

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Paradigm Acquisition Corp.
- **DATE OF NAME CHANGE:** 20221130
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Martin Maximilian
- **CENTRAL INDEX KEY:** 0002130452

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D

**MAIL ADDRESS:**
- **STREET 1:** 169 MADISON AVENUE
- **STREET 2:** SUITE 15101
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016

## Ex-3

**Exhibit 3**

**OPTION AGREEMENT**

**UNDER THE ENHANCED Ltd**

**INCENTIVE PLAN**

Name of Participant: Maximilian Martin

Total Number of Options: 253,921

Type of Options: NSO (Non-Qualified Stock Option)

Grant Date: October 29, 2025

Vesting Commencement Date: October 29, 2025

Exercise Price: $9.32

Expiration Date: October 29, 2035

Pursuant to the Enhanced Ltd Incentive Plan (the "<u>Plan</u>"), Enhanced Ltd, a Cayman Islands exempted company (including any successor thereto, the "<u>Company</u>") hereby grants the Total Number of Options listed above (the "<u>Award</u>") to the grantee named above (the "<u>Participant</u>"). Each option (an "<u>Option</u>") will entitle the Participant to purchase one share of the Company's Common Shares, par value US$0.00001 per share ("<u>Shares</u>"), subject to the terms set forth in this Option Agreement. Capitalized terms used but not defined in this Option Agreement will have the meaning specified in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Vesting of Options</u>. One-quarter (1/4) of Total Number of Options will vest on the first anniversary of the Vesting Commencement Date, and 1/48<sup>th</sup> of the Total Number of Options will vest on the corresponding day of each month thereafter (and if there is no corresponding day, on the last day of such month) (each, a "<u>Vesting Date</u>") so long as the Participant remains in the continued Employment of the Company or one of its Subsidiaries through the applicable Vesting Date. Subject to Paragraph 3 of this Option Agreement, the Participant will forfeit any unvested Options if the Participant does not remain in the continued Employment of the Company or one of its Subsidiaries from the Grant Date through the applicable Vesting Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise of Options</u>. The Participant may exercise the Options that become vested and exercisable by giving written notice to the Administrator (in a form acceptable to the Administrator) specifying the number of Shares to be acquired and providing payment of the full exercise price therefor in accordance with Section 7(d) of the Plan. Except as provided in Paragraph 3 of this Option Agreement, such Options may not be exercised unless the Participant is in the Employment of the Company or one of its Subsidiaries on the exercise date and remains in the continuous Employment of the Company or one of its Subsidiaries from the Grant Date through the exercise date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Vesting and Exercise in the Event of a Qualifying Termination of Employment</u>. The Options shall be subject to the vesting and exercisability provisions set forth in Section 7(a) of the Plan.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Shareholder Rights</u>. The Participant will have no rights of a shareholder with respect to any Shares underlying the Options unless and until such Shares have been purchased and delivered in accordance with this Option Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement</u>. By signing below, the Participant acknowledges and agrees that the receipt of the Award will satisfy in full the Company's obligation to grant any stock options to the Participant. If there are any questions regarding the foregoing, the Participant may contact Emily Tabak at emily.tabak@enhanced.org.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Provisions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Incorporation of Plan</u>. This Option Agreement will be subject to and governed by all of the terms and conditions of the Plan, including, but not limited to, the clawback provisions set forth in Section 6(e) of the Plan, the dispute resolution provisions set forth in Section 14(c) of the Plan and the provisions regarding Section 409A set forth in the Plan, as applicable. By the Participant's execution of this Option Agreement, the Participant acknowledges having received a copy of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Withholding</u>. In accordance with Section 6(f) of the Plan, in connection with any event that gives rise to a federal or other governmental tax withholding obligation on the part of the Company relating to the Award (including, without limitation, the Federal Insurance Contributions Act tax), (i) the Company may deduct or withhold (or cause to be deducted or withheld) from any payment or distribution to the Participant whether or not pursuant to the Plan (including Shares otherwise deliverable), (ii) the Administrator may require that the Participant remit cash to the Company (through payroll deduction or otherwise), or (iii) the Company may enter into any other suitable arrangements to withhold, in each case in the Company's discretion, the amounts of such taxes to be withheld based on the individual tax rates applicable to the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>. This Option Agreement and the Plan contain the entire agreement of the parties relating to the subject matter hereof and supersede any prior agreements or understandings with respect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>No Right to Continued Employment or Future Awards</u>. In accordance with Section 6(g) of the Plan, the Award does not confer upon the Participant any right to continued Employment with the Company or one of its Subsidiaries. In addition, the Award does not confer upon the Participant any right to future grants of Options.

---

| | | |
|:---|:---|:---|
| ENHANCED LTD | ENHANCED LTD | ENHANCED LTD |
| By: |  |  |
|  | /s/ Emily Tabak | /s/ Emily Tabak |
|  | Name: | Emily Tabak |
|  | Title: | Chief Legal Officer |

---

------

By executing this Option Agreement, the Participant hereby agrees to all of the terms and conditions set forth herein and in the Plan.

---

| | | |
|:---|:---|:---|
| Dated: | May 5, 2026 | |
| | | /s/ Maximilian Martin |
| | | Participant |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**Enhanced Group Inc.**

*(Name of Issuer)*

**Class A Common Stock, par value $0.0001 per share**

*(Title of Class of Securities)*

**—**

*(CUSIP Number)*

**Maximilian Martin**<br>c/o Enhanced Group Inc.<br>169 Madison Avenue, Suite 15101<br>New York NY 10016<br>929-357-2672

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**05/07/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Maximilian Martin** | Name of reporting person<br>**Maximilian Martin** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**2M** | Citizenship or place of organization<br>**2M** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**10151943.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**10151943.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**10151943.00** | Aggregate amount beneficially owned by each reporting person<br>**10151943.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**8.3%** | Percent of class represented by amount in Row (11)<br>**8.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** The percent of class is calculated based on 122,230,453 shares of Class A Common Stock outstanding as of May 7, 2026.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A Common Stock, par value $0.0001 per share

**(b) Name of Issuer:**
Enhanced Group Inc.

**(c) Address of Issuer's Principal Executive Offices:**
169 Madison Avenue, Suite 15101, New York, NY, 10016

The title and class of equity securities to which this statement on Schedule 13D ("Schedule 13D") relates are the shares of Class A common stock, par value $0.0001 per share (the "Class A Common Stock"), of Enhanced Group Inc., a Texas corporation (the "Issuer"), whose principal executive offices are located at 169 Madison Avenue, Suite 15101 New York, NY 10016.

**Item 4. Purpose of Transaction**

The information set forth in or incorporated by reference into Items 3 and 6 of this Schedule 13D is hereby incorporated by reference in its entirety into this Item 4.

The Reporting Person received 10,151,943 shares of Class A Common Stock as consideration in the Business Combination upon the conversion of Enhanced common shares held by the Reporting Person. In addition, in connection with the Business Combination, options to purchase Enhanced common shares held by the Reporting Person were converted into options to purchase 1,930,339 shares of Class A Common Stock, which options are not exercisable within 60 days of the date hereof.

From time to time, subject to restrictions that may be applicable by virtue of his role as Chief Executive Officer and a member of the Issuer's Board of Directors, the Reporting Person may acquire additional shares of the Class A Common Stock or determine to dispose of shares of Class A Common Stock beneficially owned by him. The Reporting Person may change his present intentions at any time and therefore reserves his right to make alternative plans or proposals in the future or take any other steps to enhance the value of his investment. The Reporting Person further reserves the right to increase, decrease or eliminate this investment in the Issuer, or take any other action relative thereto, in all cases as permitted by the relevant securities laws and any agreement or agreements that have been or may be entered into with the Issuer. Any transactions that the Reporting Person may pursue may be made at any time and from time to time without prior notice and will depend upon a variety of factors, including, without limitation, current and anticipated future trading prices of the securities of the Issuer, the financial condition, results of operations and prospects of the Issuer, general economic, financial market and industry conditions, diversification of such Reporting Person's investments, other investment and business opportunities available to the Reporting Person, tax considerations and other factors.

As noted above, the Reporting Person is currently the Chief Executive Officer and a member of the Issuer's Board of Directors. Other than as described in this Schedule 13D, the Reporting Person has no current plans or proposals that relate to or would result in any actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The Reporting Person beneficially owns, in the aggregate, 10,151,943 shares of Class A Common Stock, representing approximately 8.3% of the Class A Common Stock outstanding, based on 122,230,453 shares of Class A Common Stock outstanding as of May 7, 2026. The Reporting Person has sole voting and dispositive power over such shares. The Reporting Person's stock options are not included because such options are not exercisable within 60 days of the date hereof.

**(b)**
The Reporting Person beneficially owns, in the aggregate, 10,151,943 shares of Class A Common Stock, representing approximately 8.3% of the Class A Common Stock outstanding, based on 122,230,453 shares of Class A Common Stock outstanding as of May 7, 2026. The Reporting Person has sole voting and dispositive power over such shares. The Reporting Person's stock options are not included because such options are not exercisable within 60 days of the date hereof.

**(c)**
Except for the transactions described in Item 3, Item 4 and Item 6 of this Schedule 13D, which are incorporated into this Item 5(c) by reference, the Reporting Person has not effected any transactions in the Issuer's Class A Common Stock during the past 60 days.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Option Agreement

Prior to the consummation of the Business Combination, the Issuer (f/k/a Enhanced Ltd) and the Reporting Person entered into a stock option agreement for 253,921 stock options (the "Option Agreement") granted under the Enhanced Incentive Plan in respect of the common shares of Enhanced, with an exercise price per share equal to $9.32  (the "Enhanced Options"). The Enhanced Options were subject to vesting pursuant to their terms one-quarter (1/4) on the first anniversary of October 29, 2025 and 1/48th on the corresponding day of each month thereafter (or if there is no corresponding day, on the last day of such month), subject to continuous employment through each such vesting date. In connection with the Business Combination, in accordance with the terms of the Business Combination Agreement, the Enhanced Options were converted into 1,930,339 stock options to acquire shares of the Issuer's Class A Common Stock on substantially the same terms as applied to the Enhanced Options, including with respect to vesting, exercisability and termination-related provisions, with an exercise price per share, as adjusted by the applicable exchange ratio, equal to $1.2260.

The foregoing description does not purport to be complete and is qualified in its entirety by reference to the Option Agreement, which is attached as Exhibit 3 to this Schedule 13D and incorporated into this Item 6 by reference.

Transaction Support Agreement

Prior to the consummation of the Business Combination, the Reporting Person entered into a Transaction Support Agreement with the Issuer (f/k/a Enhanced Ltd) (the "Transaction Support Agreement"), pursuant to which the Reporting Person is subject to lockup restrictions and may not transfer shares of Class A Common Stock received in respect of Enhanced common shares during the support period (being from signing of the Transaction Support Agreement until the earlier of (i) termination of the Business Combination Agreement or (ii) 12 months after the closing of the Business Combination), subject to the following releases: 50% of the Reporting Person's shares will be released 6 months after the closing of the Business Combination, and the remaining 50% will be released 12 months after the closing of the Business Combination.

The foregoing description does not purport to be complete and is qualified in its entirety by reference to the Form of Transaction Support Agreement, which is attached as Exhibit 2 to this Schedule 13D and incorporated into this Item 6 by reference.

Form of Indemnification Agreement

At the closing of the Business Combination, the Issuer entered into an indemnification agreement (the "Indemnification Agreement") with each of its directors and executive officers, including the Reporting Person. The Indemnification Agreement provides for indemnification and advancement by the Issuer of certain expenses and costs relating to claims, suits, or proceedings arising from service to the Issuer or, at its request, service to other entities, as officers or directors to the maximum extent permitted by applicable law.

The foregoing description does not purport to be complete and is qualified in its entirety by the full text of the Form of Indemnification Agreement, which is attached as Exhibit 4 to this Schedule 13D, and is incorporated herein by reference.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Maximilian Martin

**Signature:** /s/ Emily Tabak

**Name/Title:** Emily Tabak/Attorney-in-Fact

**Date:** 05/14/2026