[Form 4] JOHNSON & JOHNSON Insider Trading Activity

Rhea-AI Filing Summary

Johnson & Johnson filed a Form 4 reporting small open-market sales of CVRx, Inc. common stock held indirectly through its subsidiary Johnson & Johnson Innovation - JJDC, Inc. JJDC sold 500 CVRx shares on 11/21/2025 at a price of $10.00 per share and 2,200 shares on 11/24/2025 at a weighted average price of $10.06 per share. After these transactions, Johnson & Johnson, through JJDC, indirectly beneficially owned 4,047,198 CVRx common shares. The filing notes that the 11/24/2025 price reflects multiple trades between $10.00 and $10.10, and Johnson & Johnson undertakes to provide detailed trade breakdowns upon request.

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^*

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)
11/21/2025

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	11/21/2025		S		500	D	$10	4,049,398	I	By Johnson & Johnson Innovation - JJDC, Inc.(1)
Common Stock	11/24/2025		S		2,200	D	$10.06(2)	4,047,198	I	By Johnson & Johnson Innovation - JJDC, Inc.(1)

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 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.

2. 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 $10.10. The Reporting Person undertakes 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.

	Johnson & Johnson By /s/ Marc Larkins, Secretary	11/25/2025
	Johnson & Johnson Innovation - JJDC, Inc. By: /s/ Jill McManus, Assistant Treasurer	11/25/2025
	** 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 Johnson & Johnson (JNJ) report in this Form 4 related to CVRx (CVRX)?

Johnson & Johnson reported that its subsidiary, Johnson & Johnson Innovation - JJDC, Inc., sold CVRx common stock in two open-market transactions and continues to hold a large indirect stake.

How many CVRx shares did Johnson & Johnson sell in this Form 4 filing?

Through JJDC, Johnson & Johnson sold a total of 2,700 CVRx common shares: 500 shares on 11/21/2025 and 2,200 shares on 11/24/2025.

At what prices were the CVRx shares sold by Johnson & Johnson?

The filing reports $10.00 per share for the 500 shares sold on 11/21/2025 and a weighted average price of $10.06 per share for the 2,200 shares sold on 11/24/2025, with trades ranging from $10.00 to $10.10.

How many CVRx shares does Johnson & Johnson beneficially own after these sales?

After the reported transactions, Johnson & Johnson, indirectly through JJDC, beneficially owned 4,047,198 shares of CVRx common stock.

How does Johnson & Johnson hold its CVRx shares reported in this Form 4?

The CVRx shares are held indirectly by Johnson & Johnson through its wholly owned subsidiary Johnson & Johnson Innovation - JJDC, Inc., which directly owns the shares.

What additional pricing detail did Johnson & Johnson provide for the 11/24/2025 CVRx trades?

For the 11/24/2025 sale, Johnson & Johnson stated that the weighted average price of $10.06 reflects multiple transactions at prices between $10.00 and $10.10, and it will provide the number of shares at each price upon request.