Shoulder Innovations, Inc. SEC Filings

Shoulder Innovations, Inc. (SI) Form 4 shows insider David Lawrence Blue, identified as Chief Customer Experience Officer, reported transactions dated 09/12/2025. The filing records two non-derivative acquisitions and corresponding derivative option entries: 78,616 shares acquired at an effective price of $2.0988 and 15,778 shares acquired at $2.4804.

Following these transactions the reporting person beneficially owned 138,331 shares in total. The filing notes the first option is fully vested and exercisable and the second option vests partly (one-fourth on 04/19/2024) with the remainder vesting monthly through May 2033. The form was signed by an attorney-in-fact on 09/15/2025.

Robert Joseph Ball, CEO, Executive Chairman and a director of Shoulder Innovations, Inc. (SI), reported open-market purchases of the company's common stock on two dates in September 2025. On 09/11/2025 he acquired 2,000 shares at a weighted-average price of $14.9048, bringing his direct holdings to 105,259 shares. On 09/12/2025 he acquired 6,000 shares at a weighted-average price of $15.4909, increasing his direct holdings to 111,259 shares.

The filing states the prices are weighted averages from multiple transactions with specified price ranges and was signed by an attorney-in-fact on 09/15/2025. No derivative transactions, disposals, or other material events are reported in this Form 4.

Matthew Fraser Ahearn, Chief Operating Officer and Director of Shoulder Innovations, Inc. (SI), reported option and related common stock transactions dated 09/11/2025. The filing shows acquisitions of three option tranches exercisable into common stock: 12,286 options at a $0.9349 exercise price, 78,616 options at $2.0988, and 16,443 options at $2.4804. Following these reported transactions, the filing records beneficial ownership rising to 215,379 common shares (direct). The first option tranche is fully vested and exercisable; the third tranche vests one-fourth on April 19, 2024 and the remainder in 36 monthly increments. The form is signed by an attorney-in-fact on 09/15/2025.

Shoulder Innovations, Inc. is a commercial-stage medical device company focused on shoulder arthroplasty. The company completed a Series E preferred financing in 2025 with gross commitments of $40,130 thousand and recognized a $11,719 thousand change in fair value related to the Series E purchase option for the six months ended June 30, 2025. It completed an IPO on August 1, 2025, selling 5,000,000 shares at $15.00 and receiving approximately $64,800 thousand net proceeds. As of June 30, 2025, cash, cash equivalents and marketable securities totaled $39,635 thousand. The company had an accumulated deficit of $80,899 thousand and expects continued losses while scaling commercialization, R&D and regulatory efforts. It amended a loan facility and remains in compliance with covenants. The filing discloses litigation, product liability and regulatory risks and a 1-for-19.08 reverse stock split in July 2025.

FMR LLC and Abigail P. Johnson report beneficial ownership of 3,848,791 shares of Shoulder Innovations Inc. common stock, representing 19.0% of the class. The filing shows FMR LLC has 3,830,491 shares with sole voting power and 3,848,791 shares with sole dispositive power; Abigail P. Johnson is reported with sole dispositive power for the same aggregate amount and no voting power. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control. An exhibit is referenced for a 13d-1(k) agreement and powers of attorney are referenced by prior filings.