[Form 4] JOHNSON & JOHNSON Insider Trading Activity

Rhea-AI Filing Summary

Johnson & Johnson filed a Form 4 reporting open‑market sales of CVRx (CVRX)52,332 shares at a weighted average price of $10.21 on 11/06/2025 and 200 shares at $10.00 on 11/07/2025. After these transactions, J&J indirectly beneficially owned 4,050,898 CVRx shares through JJDC. Prices for the 11/06 trades ranged from $10.00 to $10.49 per share.

Insights

Insider transactions analyst

Routine insider sale disclosed; modest size, neutral impact.

Johnson & Johnson, via subsidiary JJDC, reported sales of CVRx stock: 52,332 shares at a weighted average of $10.21 on 11/06/2025 and 200 shares at $10.00 on 11/07/2025. The filing notes the 11/06 trades occurred within a $10.00–$10.49 range.

Following the transactions, indirect beneficial ownership stood at 4,050,898 shares via JJDC, a wholly owned subsidiary of Johnson & Johnson. The report characterizes standard open‑market activity with amounts explicitly detailed.

As a Form 4, this is an administrative disclosure. Actual market impact depends on broader trading activity and issuer fundamentals; the filing provides the executed volumes and prices.

11/10/2025 - 03:28 PM

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
Estimated average burden
hours per response:			0.5

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^*

JOHNSON & JOHNSON

(Last) (First) (Middle)

ONE JOHNSON & JOHNSON PLAZA

(Street)

NEW BRUNSWICK NJ 08933

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CVRx, Inc. [ CVRX ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/06/2025

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

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

	Form filed by One Reporting Person
X	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	11/06/2025		S		52,332	D	$10.21(1)	4,051,098	I	By Johnson & Johnson Innovation - JJDC, Inc.(2)
Common Stock	11/07/2025		S		200	D	$10	4,050,898	I	By Johnson & Johnson Innovation - JJDC, Inc.(2)

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

1. Name and Address of Reporting Person^*

JOHNSON & JOHNSON

(Last) (First) (Middle)

ONE JOHNSON & JOHNSON PLAZA

(Street)

NEW BRUNSWICK NJ 08933

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Johnson & Johnson Innovation - JJDC, Inc.

(Last) (First) (Middle)

410 GEORGE STREET

(Street)

NEW BRUNSWICK NJ 08901

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $10.00 to $10.49. The Reporting Persons undertake to provide to the Issuer, any shareholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

2. The securities reported as being indirectly beneficially owned by Johnson & Johnson, the designated Reporting Person, are directly beneficially owned by Johnson & Johnson Innovation - JJDC, Inc. ("JJDC"). JJDC is a wholly-owned subsidiary of Johnson & Johnson.

	Johnson & Johnson By /s/ Marc Larkins, Secretary	11/10/2025
	Johnson & Johnson Innovation - JJDC, Inc. By: /s/ Jill McManus, Assistant Treasurer	11/10/2025
	** 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

What did JNJ disclose in this Form 4 regarding CVRx (CVRX)?

Sales of CVRx common stock by JJDC: 52,332 shares at a $10.21 weighted average on 11/06/2025 and 200 shares at $10.00 on 11/07/2025.

What is JNJ’s indirect beneficial ownership in CVRx after the transactions?

Indirect beneficial ownership is 4,050,898 shares through Johnson & Johnson Innovation – JJDC, Inc.

What price range did the 11/06/2025 CVRx trades cover?

The 11/06/2025 sales occurred at prices ranging from $10.00 to $10.49 per share.

Who executed the CVRx trades reported by JNJ?

The trades were executed by Johnson & Johnson Innovation – JJDC, Inc., a wholly owned subsidiary of Johnson & Johnson.

Is this Form 4 filed by more than one reporting person?

Yes. The filing indicates it was filed by more than one reporting person (JNJ and JJDC).

What is the relationship of the reporting person to CVRx?

The reporting person is indicated as a Director.