Matthew Fraser Ahearn - Sep 11, 2025 Form 4 Insider Report for SHOULDER INNOVATIONS, INC. (SI)

Role
CHIEF OPERATING OFFICER, Director
Signature
/s/ Jeffrey Points, as Attorney-in-Fact
Stock symbol
SI
Transactions as of
Sep 11, 2025
Transactions value $
$217,271
Form type
4
Date filed
9/15/2025, 04:09 PM
Previous filing
Aug 5, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Ahearn Matthew Fraser CHIEF OPERATING OFFICER, Director C/O SHOULDER INNOVATIONS, INC., 1535 STEELE AVENUE SW, SUITE B, GRAND RAPIDS /s/ Jeffrey Points, as Attorney-in-Fact 2025-09-15 0002070582

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SI Common Stock Options Exercise $11.5K +12.3K +11.37% $0.93 120K Sep 11, 2025 Direct
transaction SI Common Stock Options Exercise $165K +78.6K +65.34% $2.10 199K Sep 11, 2025 Direct
transaction SI Common Stock Options Exercise $40.8K +16.4K +8.27% $2.48 215K Sep 11, 2025 Direct

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 SI Stock Option Options Exercise $0 -12.3K -100% $0.00 0 Sep 11, 2025 Common Stock 12.3K $0.93 Direct F1
transaction SI Stock Option Options Exercise $0 -78.6K -100% $0.00 0 Sep 11, 2025 Common Stock 78.6K $2.10 Direct F1
transaction SI Stock Option Options Exercise $0 -16.4K -50.24% $0.00 16.3K Sep 11, 2025 Common Stock 16.4K $2.48 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The stock option is fully vested and currently exercisable.
F2 The stock option vested as to one-fourth of the underlying shares on April 19, 2024, and the remaining shares vest in 36 equal increments on the last day of each calendar month thereafter.