Shoulder Innovations CEO acquires 66,757 shares

Q: How many SI shares were delivered or withheld, and at what reported price?

On October 30, 2026, 29,639 common shares were delivered or withheld for payment of exercise price or tax liability. The reported price for those shares was $20.44 per share.

The CEO and Executive Chairman reported 242,999 stock options after the exercise, alongside 29,639 shares delivered or withheld.

Available on EDGAR 11/02/2026 - 04:29 PM EST Accepted by SEC EDGAR 11/02/2026 - 04:29 PM EST

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Form Type

Rhea-AI Filing Summary

Shoulder Innovations, Inc. CEO & Executive Chairman Robert Joseph Ball exercised stock options for 66,757 common shares on October 30, 2026, at an exercise price of $2.4804 per share. The reported position following the transaction was 242,999 stock options. On the same date, 29,639 common shares were delivered or withheld for payment of exercise price or tax liability; the reported price for those shares was $20.44 per share. The transactions were not reported as made under a Rule 10b5-1 plan.

Insider Trade Summary

66,757 shares exercised/converted

Exercise 3 txns

Insider Ball Robert Joseph

Role CEO & Executive Chairman

Type	Security	Shares	Price	Value
Exercise	Stock Option ^F1	66,757	$0.00	$0.00
Exercise	Common Stock	66,757	$2.4804	$166K
Exercise Price or Tax Liability	Common Stock	29,639	$20.44	$606K

Holdings After Transaction: Stock Option — 242,999 contracts (Direct); Common Stock — 417,942 shares (Direct)

Holdings Before and After: Stock Option, 309,756 to 242,999 contracts (Direct); Common Stock, 380,824 to 417,942 shares (Direct)

Footnotes (1)

F1. The stock option vested as to one-fourth of the underlying shares on May 17, 2024, and the remaining shares vest in 36 equal increments on the last day of each calendar month thereafter.

Key Figures

Common shares acquired through option exercise: 66,757 shares Exercise price: $2.4804 per share Shares delivered or withheld: 29,639 shares +2 more

5 metrics

Common shares acquired through option exercise 66,757 shares October 30, 2026

Exercise price $2.4804 per share Option exercise on October 30, 2026

Shares delivered or withheld 29,639 shares For payment of exercise price or tax liability on October 30, 2026

Reported price for delivered or withheld shares $20.44 per share October 30, 2026

Stock options following transaction 242,999 stock options Reported following the October 30, 2026 transaction

Key Terms

derivative security, exercise price, tax liability

3 terms

derivative security financial

"Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

exercise price financial

"exercise price of $2.4804 per share"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

tax liability financial

"payment of exercise price or tax liability"

FAQ

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

How many SI shares did the CEO acquire through option exercise?

Robert Joseph Ball, Shoulder Innovations' CEO & Executive Chairman, acquired 66,757 common shares through option exercise on October 30, 2026, at an exercise price of $2.4804 per share. He reported 242,999 stock options following the transaction. The transactions were not reported as made under a Rule 10b5-1 plan.

How many SI shares were delivered or withheld, and at what reported price?

On October 30, 2026, 29,639 common shares were delivered or withheld for payment of exercise price or tax liability. The reported price for those shares was $20.44 per share.

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

Form 4 Insider Transactions: What Each Field Means →

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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^*

Ball Robert Joseph

(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
X	Officer (give title below)	Other (specify below)
	CEO & Executive Chairman

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/30/2026

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	10/30/2026		M		66,757	A	$2.4804	447,581	D
Common Stock	10/30/2026		F		29,639	D	$20.44	417,942	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)
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)
Stock Option	$2.4804	10/30/2026		M			66,757	⁽¹⁾	05/17/2033	Common Stock	66,757	$0	242,999	D

Explanation of Responses:

1. The stock option vested as to one-fourth of the underlying shares on May 17, 2024, and the remaining shares vest in 36 equal increments on the last day of each calendar month thereafter.

Remarks:

	/s/ Jeffrey Points, as Attorney-in-Fact	11/02/2026
	** 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