Shoulder Innovations awards Sidow 892 stock units

Receipt of underlying shares is deferred until the director departs the Board, following a fully vested RSU award in lieu of cash retainer fees.

Rhea-AI Filing Summary

Shoulder Innovations, Inc. director Kevin K. Sidow received an award of 892 restricted stock units (RSUs) on October 5, 2026, reported at $19.60 per share. The RSUs were fully vested as of the grant date and were received in lieu of cash retainer fees. Each RSU represents a contingent right to receive one common share; Sidow voluntarily deferred receipt of the shares issuable upon settlement until his departure from the Board of Directors. The reported direct position following the transaction was 25,948 shares.

Insider Trade Summary

Grant/Award: 892 shares

Grant/Award 1 txn

Insider Sidow Kevin K.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	892	$19.60	$17K

Holdings After Transaction: Common Stock — 25,948 shares (Direct)

Footnotes (1)

1. F1. Represents an award of restricted stock units ("RSUs") received in lieu of cash retainer fees, which were fully vested as of the grant date. Each RSU represents a contingent right to receive one share of the Issuer's Common Stock and has no expiration date. The Reporting Person voluntarily elected to defer receipt of the Common Stock issuable upon settlement of the RSUs until the Reporting Person's departure from the Board of Directors.

Key Figures

RSUs awarded: 892 RSUs Reported price per share: $19.60 per share Reported direct position after transaction: 25,948 shares +1 more

4 metrics

RSUs awarded 892 RSUs Awarded October 5, 2026

Reported price per share $19.60 per share RSU award reported October 5, 2026

Reported direct position after transaction 25,948 shares Following the October 5, 2026 transaction

Common shares per RSU 1 share Each RSU represents a contingent right to receive one common share

Key Terms

restricted stock units ("RSUs"), cash retainer fees, contingent right

3 terms

restricted stock units ("RSUs") financial

"award of restricted stock units ("RSUs") received in lieu of cash retainer fees"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

cash retainer fees financial

"received in lieu of cash retainer fees"

contingent right financial

"Each RSU represents a contingent right to receive one share"

FAQ

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

How many RSUs did SI director Kevin K. Sidow receive?

Kevin K. Sidow received 892 RSUs on October 5, 2026, in lieu of cash retainer fees. The award was fully vested as of the grant date.

When will SI director Kevin K. Sidow receive shares for his RSUs?

Kevin K. Sidow voluntarily elected to defer receipt of the common shares issuable upon settlement until his departure from the Board of Directors. Each RSU represents a contingent right to receive one share of Shoulder Innovations common stock.

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

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Available on EDGAR 10/06/2026 - 04:50 PM Accepted by SEC EDGAR 10/06/2026 - 04:49 PM Learn about SEC filing dates

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^*

Sidow Kevin K.

(Last) (First) (Middle)

C/O SHOULDER INNOVATIONS, INC.

1535 STEELE AVENUE SW, SUITE B

(Street)

GRAND RAPIDS MICHIGAN 49507

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
SHOULDER INNOVATIONS, INC. [ SI ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/05/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/05/2026		A		892(1)	A	$19.6	25,948	D

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

Explanation of Responses:

1. Represents an award of restricted stock units ("RSUs") received in lieu of cash retainer fees, which were fully vested as of the grant date. Each RSU represents a contingent right to receive one share of the Issuer's Common Stock and has no expiration date. The Reporting Person voluntarily elected to defer receipt of the Common Stock issuable upon settlement of the RSUs until the Reporting Person's departure from the Board of Directors.

Remarks:

	/s/ Jeffrey Points, as Attorney-in-Fact	10/06/2026
	** 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)