Was Darren Sherman’s OBIO share sale made under a Rule 10b5-1 trading plan?

Yes. A footnote states that the sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Darren Sherman on December 18, 2025, and the filing also affirms Rule 10b5-1 plan status.

What indirect OBIO holdings related to Darren Sherman are disclosed in this Form 4?

The filing reports an indirect holding of 2,000 shares of Common Stock held by his son. A footnote explains that Darren Sherman disclaims beneficial ownership of these securities.

Orchestra BioMed president sells 15K shares

Q: What insider transaction did OBIO’s Darren Sherman report in this Form 4?

Darren Sherman reported a sale of 15,000 shares of Orchestra BioMed Common Stock on September 1, 2026 in a transaction coded as a sale in the open market or a private transaction.

Q: At what price were the OBIO shares sold in Darren Sherman’s Form 4 filing?

The reported weighted average price was $4.94 per share. A footnote states the shares were disposed in multiple transactions at prices ranging from $4.88 to $5.06 per share.

Q: How many OBIO shares does Darren Sherman hold after this reported sale?

After the reported sale, Darren Sherman directly holds 1,134,402 shares of Orchestra BioMed Common Stock. An additional 2,000 shares are reported as held indirectly by his son, for which he disclaims beneficial ownership.

Filing Impact

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Filing Sentiment

(Negative)How Sentiment works

Sentiment and the balance of points

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Form Type

Rhea-AI Filing Summary

Orchestra BioMed Holdings, Inc. (OBIO) insider Darren Sherman, President, Chief Operating Officer and director, reported a sale of 15,000 shares of Common Stock on September 1, 2026 at a weighted average price of $4.94 per share, in open-market or private transactions executed under a Rule 10b5-1 trading plan adopted on December 18, 2025. Following this sale, he directly holds 1,134,402 shares of Common Stock. A separate indirect holding of 2,000 shares is reported as held by his son, for which he disclaims beneficial ownership.

Insider Trade Summary 10b5-1

Net Seller: 15,000 shares

Net Sell 2 txns

Insider Sherman Darren

Role See Remarks

Sold 15,000 shs ($74K)

Type	Security	Shares	Price	Value
Sale	Common Stock, par value $0.0001 per share ("Common Stock") ^{F1, F2}	15,000	$4.94	$74K
holding	Common Stock ^F3	--	--	--

Holdings After Transaction: Common Stock, par value $0.0001 per share ("Common Stock") — 1,134,402 shares (Direct); Common Stock — 2,000 shares (Indirect, By son)

Footnotes (3)

F1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 18, 2025.
F2. The price reported is a weighted average price. These shares were disposed in multiple transactions at prices ranging from $4.88 to $5.06. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares disposed at each separate price within the range set forth in this footnote.
F3. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Key Figures

Shares sold: 15,000 shares Weighted average sale price: $4.94 per share Sale price range: $4.88–$5.06 per share +3 more

6 metrics

Shares sold 15,000 shares Common Stock sale reported for September 1, 2026

Weighted average sale price $4.94 per share Average price for the 15,000 shares sold

Sale price range $4.88–$5.06 per share Range of prices across multiple sale transactions on September 1, 2026

Direct holdings after transaction 1,134,402 shares Direct Common Stock holdings following the reported sale

Indirect holdings by son 2,000 shares Shares held by son; reporting person disclaims beneficial ownership

Rule 10b5-1 plan adoption date December 18, 2025 Trading plan under which the September 1, 2026 sales were executed

Key Terms

Rule 10b5-1 trading plan, weighted average price, beneficial ownership

3 terms

Rule 10b5-1 trading plan regulatory

"The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average price financial

"The price reported is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

beneficial ownership regulatory

"The reporting person disclaims beneficial ownership of these securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did OBIO’s Darren Sherman report in this Form 4?

Darren Sherman reported a sale of 15,000 shares of Orchestra BioMed Common Stock on September 1, 2026 in a transaction coded as a sale in the open market or a private transaction.

At what price were the OBIO shares sold in Darren Sherman’s Form 4 filing?

The reported weighted average price was $4.94 per share. A footnote states the shares were disposed in multiple transactions at prices ranging from $4.88 to $5.06 per share.

How many OBIO shares does Darren Sherman hold after this reported sale?

After the reported sale, Darren Sherman directly holds 1,134,402 shares of Orchestra BioMed Common Stock. An additional 2,000 shares are reported as held indirectly by his son, for which he disclaims beneficial ownership.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/02/2026 - 04:16 PM EDT Accepted by SEC EDGAR 09/02/2026 - 04:15 PM EDT

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^*

Sherman Darren

(Last)

(First)

(Middle)

C/O ORCHESTRA BIOMED HOLDINGS, INC.

150 UNION SQUARE DRIVE

(Street)

NEW HOPE

PENNSYLVANIA

18938

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Orchestra BioMed Holdings, Inc. [ OBIO ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, par value $0.0001 per share ("Common Stock")	09/01/2026		S⁽¹⁾		15,000	D	$4.94⁽²⁾	1,134,402	D
Common Stock								2,000⁽³⁾	I	By son

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 18, 2025.

2. The price reported is a weighted average price. These shares were disposed in multiple transactions at prices ranging from $4.88 to $5.06. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares disposed at each separate price within the range set forth in this footnote.

3. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Remarks:

President and Chief Operating Officer

	/s/ Andrew Taylor, Attorney-in-Fact	09/02/2026
	** 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)

Source: View Original Filing on SEC EDGAR