Anika Therapeutics (ANIK) director vests RSUs, withholds shares for taxes

Rhea-AI Filing Summary

Anika Therapeutics director Cheryl R. Blanchard reported compensation-related stock activity involving restricted stock units (RSUs) and performance-based RSUs (PSUs). On March 14, 2026, 24,519 RSUs and 24,519 PSUs vested and were converted into common shares, and she also received a grant of 24,520 common shares.

On March 15, 2026, an additional 25,131 RSUs vested and were converted into 25,131 common shares. To cover related tax withholding obligations, the company retained 14,728 shares on March 14 and 12,104 shares on March 15 at a price of $14.20 per share, rather than selling shares in the open market.

Following these transactions, Blanchard directly holds 258,788 common shares and indirectly holds 11,742 shares through a revocable trust of which she is the sole trustee and a beneficiary. The transactions reflect equity awards vesting and associated tax withholding, not open-market purchases or sales.

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

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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^*

Blanchard Cheryl R

(Last) (First) (Middle)

C/O ANIKA THERAPEUTICS, INC.

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)
03/14/2026

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	03/14/2026		M		24,519	A	(1)	235,969	D
Common Stock	03/14/2026		A		24,520(2)	A	$0	260,489	D
Common Stock	03/14/2026		F		14,728(3)	D	$14.2	245,761	D
Common Stock	03/15/2026		M		25,131	A	(1)	270,892	D
Common Stock	03/15/2026		F		12,104(4)	D	$14.2	258,788	D
Common Stock								11,742	I	Revocable Trust(5)

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)	03/14/2026		M			24,519	(6)	(6)	Common Stock	24,519	$0	49,040	D
Restricted Stock Unit	(1)	03/15/2026		M			25,131	(7)	(7)	Common Stock	25,131	$0	25,132	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents the contingent right to receive one share of Issuer common stock.

2. On March 14, 2025, the Reporting Person was granted 73,559 performance-based phantom RSUs ("PSUs") with vesting contingent upon the achievement of pre-established performance and strategic targets. This transaction represents the first vesting installment of such PSU award.

3. Reflects an aggregate of 14,728 shares of common stock retained by the Issuer to satisfy tax withholding obligations with respect to RSUs and PSUs that vested on March 14, 2026.

4. Reflects an aggregate of 12,104 shares of common stock retained by the Issuer to satisfy tax withholding obligations with respect to RSUs that vested on March 15, 2026.

5. Consists of shares held by The Cheryl R. Blanchard Amended and Restated Revocable Trust dated December 19, 2014, of which the Reporting Person is a beneficiary and the sole trustee.

6. On March 14, 2025, the Reporting Person was granted 73,559 RSUs vesting in three equal annual installments beginning on March 14, 2026. This transaction reflects the first vesting installment of such RSU award.

7. On March 15, 2024, the Reporting Person was granted 75,395 RSUs vesting in three equal annual installments beginning on March 15, 2025. This transaction reflects the second vesting installment of such RSU award.

	/s/ Cheryl R. Blanchard	03/17/2026
	** 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).
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FAQ

What insider stock activity did Anika Therapeutics (ANIK) disclose for Cheryl R. Blanchard?

Anika Therapeutics reported that director Cheryl R. Blanchard had RSUs and performance-based RSUs vest and convert into common stock on March 14 and 15, 2026. These equity awards reflect compensation, not open-market buying or selling of Anika shares.

How many Anika Therapeutics (ANIK) shares did Cheryl R. Blanchard acquire through RSU and PSU vesting?

Blanchard had 24,519 RSUs, 24,519 PSUs, and 25,131 RSUs vest and convert into common stock over March 14–15, 2026. These vestings increased her direct share ownership as part of previously granted equity compensation awards tied to service and performance conditions.

Did Cheryl R. Blanchard sell Anika Therapeutics (ANIK) shares in the market in this Form 4?

No open-market sales occurred. Instead, Anika retained 14,728 shares on March 14 and 12,104 shares on March 15 at $14.20 per share to satisfy Blanchard’s tax withholding obligations related to the vesting RSUs and PSUs, a common administrative mechanism.

What is Cheryl R. Blanchard’s Anika Therapeutics (ANIK) share ownership after these transactions?

After the reported transactions, Blanchard directly holds 258,788 shares of Anika common stock. She also indirectly holds 11,742 additional shares through The Cheryl R. Blanchard Amended and Restated Revocable Trust, where she is both the sole trustee and a beneficiary.

What do the Form 4 tax-withholding entries mean for Anika Therapeutics (ANIK)?

The entries coded “F” show shares retained by Anika to cover Blanchard’s tax liabilities on vested RSUs and PSUs. Specifically, 14,728 and 12,104 shares were withheld at $14.20 per share, reducing shares delivered to her but not indicating discretionary market sales.

Were Cheryl R. Blanchard’s Anika Therapeutics (ANIK) RSU and PSU vestings tied to performance targets?

Yes. Footnotes state she received 73,559 performance-based PSUs and 73,559 time-based RSUs in March 2025, plus 75,395 RSUs in March 2024. The March 2026 transactions represent scheduled vesting installments contingent on pre-established performance and strategic targets and time-based conditions.