Shoulder Innovations holder plans $466K stock sale

Rhea-AI Filing Summary

Morgan Stanley Smith Barney LLC Executive Financial Services is listed as broker for the planned sale of 22,500 common shares of the issuer’s stock, with an indicated aggregate market value of $466,425.00 and 20,818,957 shares outstanding as of an intended sale date of 08/17/2026 on the NYSE. The shares were originally acquired in connection with a Preferred Equity Financing dated 11/17/2017. In the last three months, 10b5-1 plan sales for Matthew Ahearn included 4,144 common shares for $78,069.64 on 06/15/2026 and 15,856 common shares for $296,185.32 on 06/12/2026.

Key Figures

Shares to be sold: 22,500 shares Aggregate market value: $466,425.00 Shares outstanding: 20,818,957 shares +5 more

8 metrics

Shares to be sold 22,500 shares Common stock proposed for sale through Morgan Stanley Smith Barney LLC

Aggregate market value $466,425.00 Market value associated with 22,500 common shares

Shares outstanding 20,818,957 shares Issuer’s common shares outstanding as of 08/17/2026

Intended sale date 08/17/2026 Date referenced for proposed NYSE sale of common stock

10b5-1 sale proceeds $78,069.64 Proceeds from sale of 4,144 common shares on 06/15/2026

10b5-1 sale proceeds $296,185.32 Proceeds from sale of 15,856 common shares on 06/12/2026

10b5-1 shares sold 4,144 shares Common shares sold under 10b5-1 plan on 06/15/2026

10b5-1 shares sold 15,856 shares Common shares sold under 10b5-1 plan on 06/12/2026

Key Terms

Form 144, Preferred Equity Financing, Rule 10b5-1, aggregate market value

4 terms

Form 144 regulatory

"144: Securities Information Common | Morgan Stanley Smith Barney LLC"

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

Preferred Equity Financing financial

"Common | 11/17/2017 | Preferred Equity Financing | Issuer"

Preferred equity financing is when a company raises money by issuing preferred shares that give investors priority on dividend payments and claims on assets ahead of common shareholders, while often carrying limited or no voting rights. It matters to investors because preferred shares act like a hybrid between debt and stock — they typically offer steadier payouts and greater protection in a liquidation, but less upside and influence than common equity; think of it as buying a reserved ticket that gets priority refunds but fewer perks.

Rule 10b5-1 regulatory

"10b5-1 Sales for MATTHEW AHEARN 1535 Steele Avenue SW"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

aggregate market value financial

"Common | Morgan Stanley Smith Barney LLC Executive Financial Services"

Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

FAQ

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

What amount of stock is covered by this Form 144 notice for SI?

The notice covers a proposed sale of 22,500 common shares of the issuer’s stock. The filing also cites an aggregate market value of $466,425.00 and relates to shares originally obtained in a Preferred Equity Financing on 11/17/2017.

What is the aggregate market value of the SI shares referenced in this Form 144?

The aggregate market value associated with the 22,500 common shares is stated as $466,425.00. This value provides a reference for the size of the proposed sale relative to the issuer’s total 20,818,957 shares outstanding as of the stated date.

How many SI shares are shown as outstanding in this Form 144 disclosure?

The disclosure lists 20,818,957 shares outstanding of the issuer’s common stock as of the referenced date. This number serves as context for the planned sale of 22,500 shares through Morgan Stanley Smith Barney LLC on or after 08/17/2026.

What recent 10b5-1 plan sales involving SI stock are reported for Matthew Ahearn?

Two 10b5-1 sales are reported: on 06/15/2026, 4,144 common shares for $78,069.64, and on 06/12/2026, 15,856 common shares for $296,185.32. These transactions reflect pre-arranged trading activity under a Rule 10b5-1 plan.

When were the SI shares in this Form 144 originally acquired?

The shares were originally acquired on 11/17/2017 in connection with a Preferred Equity Financing. That acquisition date is listed alongside the common stock to be sold, linking the proposed sale of 22,500 shares to the prior financing event.

Which broker is handling the proposed SI share sale mentioned here?

The proposed sale is associated with Morgan Stanley Smith Barney LLC Executive Financial Services, located at 1 New York Plaza, 8th Floor, New York, NY 10004. This broker is listed in connection with the planned sale of 22,500 common shares on the NYSE.

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

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Accepted by SEC EDGAR 08/17/2026 - 04:48 PM EDT Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0002070582
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	SHOULDER INNOVATIONS, INC.
SEC File Number	001-42771
Address of Issuer	1535 Steele Avenue SW Grand Rapids MICHIGAN 49507
Phone	6162941026
Name of Person for Whose Account the Securities are To Be Sold	MATTHEW AHEARN
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Director
Relationship to Issuer	Officer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	22500	466425.00	20818957	08/17/2026	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	11/17/2017	Preferred Equity Financing	Issuer			22500	11/17/2017	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for MATTHEW AHEARN 1535 Steele Avenue SW Grand Rapids MI 49507	Common	06/15/2026	4144	78069.64
10b5-1 Sales for MATTHEW AHEARN 1535 Steele Avenue SW Grand Rapids MI 49507	Common	06/12/2026	15856	296185.32

144: Remarks and Signature

Remarks	The securities to be sold were acquired upon Preferred Equity Financing during the period of 11/17/2017 through 10/17/2018.
Date of Notice	08/17/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	03/13/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Matthew Ahearn
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)