[Form 4] Anika Therapeutics Inc Insider Trading Activity

Rhea-AI Filing Summary

Anika Therapeutics, Inc. (ANIK) Form 4 filing: Director Gary P. Fischetti reported the award of 14,164 restricted stock units (RSUs) on 20 June 2025. Each RSU converts into one common share at no cost to the director and will vest in full on the earlier of the company’s 2026 annual shareholder meeting or 20 June 2026. Following the grant, Fischetti’s total beneficial ownership increases to 41,613 common shares, held directly. No open-market purchases or sales were reported, and no derivative securities were exercised or disposed of.

Insights

Corporate Governance Expert

TL;DR: Routine RSU grant enhances alignment; no market impact.

The filing records a standard annual director equity grant. RSUs vest within one year, incentivising board continuity and shareholder alignment but involve no cash outlay or open-market activity. Ownership rises modestly to 41,613 shares—immaterial relative to ANIK’s float. No signalling effect regarding valuation or insider sentiment is evident.

Portfolio Manager

TL;DR: Neutral insider activity; maintain stance on ANIK.

From an investment perspective, the grant neither adds buying pressure nor indicates insider conviction since it is compensation-related and priced at $0. The limited size versus daily volume suggests negligible liquidity or valuation impact. I classify the disclosure as not impactful for portfolio positioning.

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

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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^*

Fischetti Gary P

(Last) (First) (Middle)

32 WIGGINS AVENUE

(Street)

BEDFORD MA 01730

(City) (State) (Zip)

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/20/2025

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

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

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

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
Common Stock	06/20/2025		A		14,164(1)	A	$0	41,613	D

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

Explanation of Responses:

1. These shares represent restricted stock units ("RSUs"). Each RSU represents the contingent right to receive one share of the Company's common stock. The RSUs vest in full on the earlier of the 2026 annual meeting of the Company's stockholders or June 20, 2026.

	/s/ Gary P. Fischetti	06/24/2025
	** 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.

FAQ

How many ANIK shares did Director Gary P. Fischetti receive?

He received 14,164 restricted stock units, each convertible into one common share.

When will the newly granted RSUs to Gary P. Fischetti vest?

They vest on the earlier of the 2026 annual shareholder meeting or 20 June 2026.

What is Gary P. Fischetti’s total ANIK share ownership after this grant?

His beneficial ownership increased to 41,613 common shares.

Did the Form 4 disclose any open-market purchases or sales by the director?

No; the filing only reports an RSU grant with no cash transaction.