Anika Therapeutics (ANIK) SVP Ian McLeod granted RSUs and PPSARs

Rhea-AI Filing Summary

Anika Therapeutics SVP, CAO & Treasurer Ian McLeod received new equity awards. On March 19, 2026, he was granted 13,097 Restricted Stock Units and a separate 11,194 RSU award, each representing a contingent right to one share of common stock or cash on vesting. He also received 17,663 Premium Priced Stock Appreciation Rights with a $15.60 exercise price, vesting in three annual installments starting March 19, 2027, and expiring on March 19, 2036.

Insights

Equity Compensation Analyst

Routine equity grants to a senior officer with multi‑year vesting.

Senior officer Ian McLeod received three equity awards: two Restricted Stock Unit grants for 13,097 and 11,194 underlying common shares, and 17,663 Premium Priced Stock Appreciation Rights with a $15.60 exercise price. All are classified as grant or award acquisitions.

The RSUs vest over time, one grant in three equal annual installments starting March 19, 2027 and another fully on March 19, 2029, contingent on continued service. The PPSARs also vest in three equal annual installments beginning March 19, 2027 and are payable in cash, stock, or both at the issuer’s discretion.

These awards align McLeod’s compensation with longer‑term company performance rather than reflecting open‑market buying or selling. There are no derivative exercises, sales, or tax‑withholding dispositions in this filing, and no remaining derivative positions are listed beyond these new grants.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

McLeod Ian

(Last) (First) (Middle)

C/O ANIKA THERAPEUTICS, INC.

32 WIGGINS AVENUE

(Street)

BEDFORD MASSACHUSETTS 01730

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Anika Therapeutics, Inc. [ ANIK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, CAO & Treasurer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/19/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit	(1)	03/19/2026		A		13,097		(2)	(2)	Common Stock	13,097	$0	13,097	D
Restricted Stock Unit	(1)	03/19/2026		A		11,194		(3)	(3)	Common Stock	11,194	$0	11,194	D
Premium Priced Stock Appreciation Rights	$15.6	03/19/2026		A		17,663		(4)	03/19/2036	Common Stock	17,663	$0	17,663	D

Explanation of Responses:

1. Each Restricted Stock Unit ("RSU") represents the contingent right to receive, at the Issuer's discretion, one share of the Issuer's common stock, or the cash equivalent of the closing price of one share of the Issuer's common stock, on each vest date, in accordance with the Anika Therapeutics, Inc. 2017 Omnibus Incentive Plan, as amended (the "2017 Plan"), and the applicable award agreement.

2. Vests in three equal annual installments, with the first installment vesting on March 19, 2027, subject to the Reporting Person's continuous service to the Issuer on each such date.

3. Vests fully on March 19, 2029, subject to the Reporting Person's continuous service to the Issuer as of such date.

4. Represents a Premium Priced Stock Appreciation Right ("PPSAR") granted under the 2017 Plan. The PPSAR exercise price per share is equal to 110% of the Fair Market Value (as defined in the 2017 Plan) of a share of common stock on the Grant Date. The PPSAR vests in three equal annual installments beginning March 19, 2027, subject to the Reporting Person's continuous service to the Issuer on each such date. The PPSAR is payable in cash, shares of common stock, or a combination thereof, at the Issuer's discretion, in accordance with the 2017 Plan, as amended, and the applicable award agreement.

	/s/ Ian McLeod	03/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did Anika Therapeutics (ANIK) report for Ian McLeod?

Anika Therapeutics reported that SVP, CAO & Treasurer Ian McLeod received three equity awards: two grants of Restricted Stock Units and one grant of Premium Priced Stock Appreciation Rights, all dated March 19, 2026 and classified as grant or award acquisitions.

How many Restricted Stock Units did Ian McLeod receive at Anika Therapeutics (ANIK)?

Ian McLeod received two Restricted Stock Unit awards. One covers 13,097 underlying common shares and the other covers 11,194 underlying common shares. Each RSU represents a contingent right to one share of common stock or its cash equivalent upon vesting, at the issuer’s discretion.

What are the vesting schedules for Ian McLeod’s RSUs at Anika Therapeutics (ANIK)?

One RSU grant to Ian McLeod vests in three equal annual installments starting on March 19, 2027, subject to continuous service. The other RSU grant vests fully on March 19, 2029, also contingent on his continued service with Anika Therapeutics.

What Premium Priced Stock Appreciation Rights were granted to Ian McLeod at Anika Therapeutics (ANIK)?

Ian McLeod received 17,663 Premium Priced Stock Appreciation Rights with an exercise price of $15.60 per share, equal to 110% of fair market value on the grant date. These rights are payable in cash, common stock, or a combination, at the issuer’s discretion.

When do Ian McLeod’s Premium Priced Stock Appreciation Rights at Anika (ANIK) vest and expire?

The Premium Priced Stock Appreciation Rights granted to Ian McLeod vest in three equal annual installments beginning on March 19, 2027, subject to continuous service, and have an expiration date of March 19, 2036 under Anika Therapeutics’ 2017 Omnibus Incentive Plan.

Are Ian McLeod’s equity awards at Anika Therapeutics (ANIK) settled in cash or stock?

Each RSU gives a contingent right to receive either one share of common stock or the cash equivalent of one share’s closing price at vesting. The PPSARs are payable in cash, stock, or a combination, at Anika Therapeutics’ discretion under the 2017 Plan.