STOCK TITAN

Shoulder Innovations, Inc. (SI) holder sells 110,563 shares in insider trades

(Very High)
(Negative)
Form Type
4

Rhea-AI Filing Summary

Gilde Healthcare Holding B.V., a ten percent owner of Shoulder Innovations, reported indirect sales of 110,563 shares of common stock through Cooperatieve Gilde Healthcare V U.A. on August 3–4, 2026 at weighted average prices of $22.71 and $22.77 per share.

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Insights

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Insider Gilde Healthcare Holding B.V.
Role 10% Owner
Sold 110,563 shs ($2.52M)
Type Security Shares Price Value
Sale Common Stock F3, F2 99,812 $22.77 $2.27M
Sale Common Stock F1, F2 10,751 $22.71 $244K
Holdings After Transaction: Common Stock — 2,221,640 shares (Indirect, See footnote)
Footnotes (3)
  1. F1. This figure is the weighted average sales price of multiple trades ranging from $22.60 to $23.05 per share. The Reporting Person undertakes to provide the Staff of the Securities and Exchange Commission, Shoulder Innovations, Inc. or any security holder of Shoulder Innovations, Inc. full information about the number of shares sold at each separate price upon request.
  2. F2. Held directly by Cooperatieve Gilde Healthcare V U.A. ("Gilde"). Gilde Healthcare V Management B.V. is the managing director of Gilde and has sole voting and dispositive power with respect to the shares held by Gilde. Gilde Healthcare V Management B.V. is owned by Gilde Healthcare Holding B.V. The managing partners of Gilde Healthcare Holding B.V. are Manapouri B.V. (of which Edwin de Graaf is the owner and managing director) and Martemanshurk B.V. (of which Pieter van der Meer is the owner and managing director). Geoff Pardo is a partner at Gilde and may be deemed to share voting and dispositive power with respect to the shares held of record by Gilde. Mr. Pardo disclaims beneficial ownership of such holdings, except to the extent of his pecuniary interest in the shares.
  3. F3. This figure is the weighted average sales price of multiple trades ranging from $22.60 to $23.04 per share. The Reporting Person undertakes to provide the Staff of the Securities and Exchange Commission, Shoulder Innovations, Inc. or any security holder of Shoulder Innovations, Inc. full information about the number of shares sold at each separate price upon request.
Total shares sold 110,563 shares Aggregate common stock sold on 2026-08-03 and 2026-08-04 by a ten percent owner
Shares sold on 2026-08-03 10,751 shares Non-derivative common stock sale at a weighted average price of $22.71 per share
Shares sold on 2026-08-04 99,812 shares Non-derivative common stock sale at a weighted average price of $22.77 per share
Price range on 2026-08-03 $22.60 to $23.05 per share Multiple trades aggregated into one reported transaction with a weighted average of $22.71
Price range on 2026-08-04 $22.60 to $23.04 per share Multiple trades aggregated into one reported transaction with a weighted average of $22.77
weighted average sales price financial
"This figure is the weighted average sales price of multiple trades ranging"
dispositive power financial
"has sole voting and dispositive power with respect to the shares held"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
beneficial ownership financial
"Mr. Pardo disclaims beneficial ownership of such holdings, except to the extent"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership of such holdings, except to the extent of his pecuniary interest"

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

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FAQ

Who sold shares of Shoulder Innovations (SI) in this insider report?

The seller was Gilde Healthcare Holding B.V., reported as a ten percent owner of Shoulder Innovations, with the shares held of record by Cooperatieve Gilde Healthcare V U.A. and voting and dispositive power exercised through related Gilde management entities.

How many Shoulder Innovations (SI) shares were sold and on which dates?

An affiliated holder sold a total of 110,563 shares of Shoulder Innovations common stock in two transactions on August 3, 2026 (10,751 shares) and August 4, 2026 (99,812 shares), all reported as non-derivative open-market or private sales.

At what prices were the Shoulder Innovations (SI) shares sold?

The shares were sold at weighted average prices of $22.71 per share on August 3, 2026 and $22.77 per share on August 4, 2026, based on multiple trades within specified per-share price ranges on each day.

What price ranges applied to the Shoulder Innovations (SI) insider sales?

For August 3, 2026, the weighted average price of $22.71 reflects trades from $22.60 to $23.05 per share. For August 4, 2026, the $22.77 weighted average reflects trades from $22.60 to $23.04 per share, according to the disclosure footnotes.

Were the Shoulder Innovations (SI) insider transactions under a Rule 10b5-1 plan?

These transactions were not designated as made under a Rule 10b5-1 trading plan, as indicated by the unchecked 10b5-1 checkbox and the absence of any footnote stating they were executed pursuant to a pre-arranged trading arrangement.

How is ownership of the sold Shoulder Innovations (SI) shares structured?

The shares are held by Cooperatieve Gilde Healthcare V U.A.. Gilde Healthcare V Management B.V. has sole voting and dispositive power, is owned by Gilde Healthcare Holding B.V., and individuals such as Geoff Pardo may be deemed to share power, while beneficial ownership is disclaimed except for pecuniary interests.
SEC Form 4
FORM 4UNITED 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*
Gilde Healthcare Holding B.V.

(Last)(First)(Middle)
STADSPLATEAU 36

(Street)
UTRECHTNETHERLANDS3521 AZ

(City)(State)(Zip)

NETHERLANDS

(Country)
2. Issuer Name and Ticker or Trading Symbol
SHOULDER INNOVATIONS, INC. [ SI ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
DirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/03/2026
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock08/03/2026S10,751D$22.71(1)2,321,452I(2)See footnote(2)
Common Stock08/04/2026S99,812D$22.77(3)2,221,640I(2)See footnote(2)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. This figure is the weighted average sales price of multiple trades ranging from $22.60 to $23.05 per share. The Reporting Person undertakes to provide the Staff of the Securities and Exchange Commission, Shoulder Innovations, Inc. or any security holder of Shoulder Innovations, Inc. full information about the number of shares sold at each separate price upon request.
2. Held directly by Cooperatieve Gilde Healthcare V U.A. ("Gilde"). Gilde Healthcare V Management B.V. is the managing director of Gilde and has sole voting and dispositive power with respect to the shares held by Gilde. Gilde Healthcare V Management B.V. is owned by Gilde Healthcare Holding B.V. The managing partners of Gilde Healthcare Holding B.V. are Manapouri B.V. (of which Edwin de Graaf is the owner and managing director) and Martemanshurk B.V. (of which Pieter van der Meer is the owner and managing director). Geoff Pardo is a partner at Gilde and may be deemed to share voting and dispositive power with respect to the shares held of record by Gilde. Mr. Pardo disclaims beneficial ownership of such holdings, except to the extent of his pecuniary interest in the shares.
3. This figure is the weighted average sales price of multiple trades ranging from $22.60 to $23.04 per share. The Reporting Person undertakes to provide the Staff of the Securities and Exchange Commission, Shoulder Innovations, Inc. or any security holder of Shoulder Innovations, Inc. full information about the number of shares sold at each separate price upon request.
Gilde Healthcare Holding B.V., By: /s/ Edwin de Graaf, Managing Director08/05/2026
Gilde Healthcare V Management B.V., By: /s/ Edwin de Graaf, Managing Director08/05/2026
Cooperatieve Gilde Healthcare V U.A., By: /s/ Edwin de Graaf, Managing Director08/05/2026
** Signature of Reporting PersonDate
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)