Cheryl R. Blanchard - Mar 14, 2025 Form 4 Insider Report for Anika Therapeutics, Inc. (ANIK)

Role: President, CEO, Director, Director
Signature: /s/ Cheryl R. Blanchard
Stock symbol: ANIK
Transactions as of: Mar 14, 2025
Transactions value $: -$193,338
Form type: 4
Date filed: 3/18/2025, 05:15 PM
Previous filing: Mar 13, 2025
Next filing: May 23, 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ANIK	Common Stock	Options Exercise	$0	+25.1K	+13.63%	$0.00	209K	Mar 17, 2025	Direct	F1
transaction	ANIK	Common Stock	Tax liability	-$193K	-12.2K	-5.8%	$15.91	197K	Mar 17, 2025	Direct	F2, F3
holding	ANIK	Common Stock						11.7K	Mar 14, 2025	Revocable Trust	F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ANIK	Restricted Stock Unit	Award	$0	+73.6K		$0.00	73.6K	Mar 14, 2025	Common Stock	73.6K	$0.00	Direct	F5
transaction	ANIK	Restricted Stock Unit	Award	$0	+71.4K		$0.00	71.4K	Mar 14, 2025	Common Stock	71.4K	$0.00	Direct	F6
transaction	ANIK	Restricted Stock Unit	Options Exercise	$0	-25.1K	-33.33%	$0.00	50.3K	Mar 17, 2025	Common Stock	25.1K	$0.00	Direct	F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Reflects the first vesting installment of phantom RSUs granted on March 15, 2024, which the Company elected to settle in shares.
F2	Reflects an aggregate of 12,152 shares of common stock retained by the Issuer to satisfy tax withholding obligations with respect to RSUs that vested on March 15, 2025.
F3	Reflects the closing price of ANIK common stock on March 14, 2025, the trading day prior to which the vesting of RSUs gave rise to tax withholding obligations.
F4	Consists of shares transferred by Dr. Blanchard to The Cheryl R. Blanchard Amended and Restated Revocable Trust dated December 19, 2014, of which Dr. Blanchard is a beneficiary and the sole trustee.
F5	Each RSU represents the contingent right to receive, at the Company's discretion, one share of the Company's common stock, or the cash equivalent of the closing price of one share of the Company's common stock, on each vest date. The RSUs vest in three equal annual installments beginning March 14, 2026.
F6	Each RSU represents the contingent right to receive, at the Company's discretion, one share of the Company's common stock, or the cash equivalent of the closing price of one share of the Company's common stock, on the vest date. The 71,403 RSUs represent the Target number of shares that may be earned in conjunction with certain market metrics prescribed under the terms of the performance-based phantom RSU award. The award shall cliff vest on the 3rd anniversary of the grant date, subject to the Compensation Committee's determination of achievement of the award prior to the vest date. The number of shares earned and subject to vest, as determined by the Compensation Committee, may be in a range from Threshold (50% of Target) to Maximum (200% of Target). No shares shall vest for achievement under Threshold.
F7	Each RSU represents the contingent right to receive, at the Company's discretion, one share of the Company's common stock, or the cash equivalent of the closing price of one share of the Company's common stock, on each vest date. The RSUs vest in three equal annual installments beginning March 15, 2025.