Shoulder Innovations awards director 1,275 stock units

Buckman elected to defer receipt of the common shares until his departure from the Board.

Rhea-AI Filing Summary

Shoulder Innovations, Inc. (SI) director Paul Buckman acquired an award of 1,275 restricted stock units on October 5, 2026, in lieu of cash retainer fees. The RSUs were fully vested on the grant date, and each represents a contingent right to one common share. Buckman elected to defer receipt of shares issuable upon settlement until his departure from the Board; his reported direct holdings following the award were 65,025 shares.

Insider Trade Summary

Grant/Award: 1,275 shares

Grant/Award 1 txn

Insider BUCKMAN PAUL

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	1,275	$19.60	$25K

Holdings After Transaction: Common Stock — 65,025 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

Restricted stock units awarded: 1,275 RSUs Reported per-share price: $19.60 per share Reported direct holdings following transaction: 65,025 shares +1 more

4 metrics

Restricted stock units awarded 1,275 RSUs October 5, 2026; received in lieu of cash retainer fees

Reported per-share price $19.60 per share Award transaction reported October 5, 2026

Reported direct holdings following transaction 65,025 shares Following the October 5, 2026 award

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

Key Terms

restricted stock units, fully vested, contingent right

3 terms

restricted stock units financial

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

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

fully vested financial

"which were fully vested as of the grant date"

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 SI restricted stock units did Paul Buckman receive?

Paul Buckman, a director of Shoulder Innovations, Inc. (SI), acquired an award of 1,275 restricted stock units on October 5, 2026, in lieu of cash retainer fees. The RSUs were fully vested on the grant date, and each represents a contingent right to one common share.

When will Paul Buckman receive SI shares from the RSU award?

Buckman elected to defer receipt of the common shares issuable upon settlement until his departure from the Board of Directors.

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

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 10/06/2026 - 04:42 PM Accepted by SEC EDGAR 10/06/2026 - 04:42 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^*

BUCKMAN PAUL

(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		1,275(1)	A	$19.6	65,025	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)