Welcome to our dedicated page for SHOULDER INNOVATIONS SEC filings (Ticker: SI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Shoulder Innovations filings document a Delaware medical technology issuer focused on shoulder arthroplasty implants and related surgical-care technologies. Form 8-K reports cover operating results, Regulation FD disclosures, product-launch announcements, FDA-cleared indications, strategic partnership announcements, and material agreements tied to corporate facilities.
Governance filings include the definitive proxy statement for the annual meeting, director elections, board committee matters, non-employee director compensation, and stockholder voting procedures. Current reports also record director appointments, resignations, independence determinations, indemnification arrangements and other corporate-governance events.
Shoulder Innovations director Andrew Hykes received an equity award in the form of restricted stock units (RSUs). The filing reports a grant of 5,046 RSUs of Common Stock at no cash cost, increasing his directly held shares to 6,769 following the award.
The RSUs will vest on the earlier of the 2027 annual stockholders meeting or June 26, 2027, and each RSU converts into one share of Common Stock. Hykes has elected to defer receipt of the shares until his departure from the Board of Directors. His reported holdings include 1,723 shares received as an in-kind distribution from Gilmartin Capital Fund I, LP, which were previously not reported as beneficially owned.
Shoulder Innovations, Inc. director Paul Buckman reported receiving an award of 5,046 restricted stock units (RSUs) of Common Stock. The RSUs will vest on the earlier of the company’s 2027 annual stockholders’ meeting or June 26, 2027, and each RSU converts into one share. Buckman has elected to defer receiving the underlying shares until he leaves the Board of Directors. Following this grant, he holds 63,750 shares of Common Stock directly.
Buchholz Richard reported acquisition or exercise transactions in this Form 4 filing.
SHOULDER INNOVATIONS, INC. director Richard Buchholz reported an equity compensation grant in the form of restricted stock units (RSUs). He was awarded 5,046 RSUs, each representing a contingent right to receive one share of common stock at no cash cost.
The RSUs will vest on the earlier of the company’s annual meeting of stockholders to be held in 2027 or June 26, 2027. Following this grant, Buchholz’s reported direct holdings total 18,712 shares of common stock, reflecting a routine, compensation-related increase in his equity stake.
Shoulder Innovations entered a new Loan and Security Agreement with Stifel Bank that provides up to $50 million of senior secured financing. It includes a fully funded $15 million growth capital term loan and a $30 million asset-based revolving line of credit, with an additional $5 million available subject to conditions.
The term loan proceeds were used to repay and terminate the prior Trinity Capital facility, including $15.7 million of principal, interest and premiums, releasing Trinity’s security interests. The new term loan bears interest at the greater of 0.75% below prime or 5.00%, is interest-only through June 30, 2029, and matures in June 2031.
The revolving facility, which was undrawn at closing, bears interest at the greater of the prime rate or 5.00%, matures in June 2029, and is secured by substantially all company assets other than specified intellectual property. The agreement includes customary covenants and a springing minimum revenue test tied to total debt and liquidity.
Shoulder Innovations, Inc. reported the results of its 2026 Annual Meeting of Stockholders, where a quorum of 16,424,584 common shares was present virtually or by proxy. Each share had one vote.
Stockholders elected two Class I directors. Robert Ball received 10,576,791 votes for and 4,236,696 votes withheld, with 1,611,097 broker non-votes. Andrew Hykes received 14,812,410 votes for and 1,077 votes withheld, plus 1,611,097 broker non-votes. Both will serve three-year terms until the 2029 Annual Meeting, subject to earlier death, resignation, or removal.
Stockholders also ratified Deloitte & Touche LLP as independent registered public accounting firm for the year ending December 31, 2026, with 16,415,933 votes for, 2 votes against, and 8,649 abstentions, and no broker non-votes.
SHOULDER INNOVATIONS, INC. director and Chief Operating Officer Matthew Fraser Ahearn reported open-market sales of 20,000 shares of Common Stock. The trades on June 12 and 15, 2026 were executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 13, 2026, at weighted-average prices ranging from $17.98 to $19.71 per share. Following these transactions, he directly holds 269,176 shares of the company’s common stock.
Shoulder Innovations reported strong top-line growth for the quarter ended March 31, 2026. Net revenue rose to $16.7 million, up 64.9% from $10.1 million a year earlier, driven by more implant systems sold and a higher average selling price, while gross margin improved slightly to 77.7%.
Higher spending to scale the business widened the net loss to $8.4 million from $4.7 million, and Adjusted EBITDA was $(7.0) million. The company ended the quarter with $108.5 million in cash, cash equivalents and marketable securities and $15.0 million of term debt, after using $12.4 million of cash in operating activities. Management highlighted rapid procedure growth, ongoing product and robotics development, an active patent dispute with Catalyst Orthoscience, and a new headquarters lease to support future expansion.
Shoulder Innovations reported strong first quarter 2026 growth but wider losses. Net revenue rose 65% to $16.7 million, driven by higher implant volumes and more customers, and gross margin improved to 77.7% from 76.9%.
Selling, general and administrative expenses increased 73% to $18.2 million and research and development expenses rose 137% to $3.8 million, reflecting commercial expansion and product development. This led to an operating loss of $9.0 million and net loss of $8.4 million, both roughly double the prior-year period. Adjusted EBITDA loss was $7.0 million.
Management raised full-year 2026 net revenue guidance to a range of $65 million to $68 million, implying approximately 37% to 44% growth over 2025. The company ended March 31, 2026 with $108.5 million in cash, cash equivalents and marketable securities, providing resources to support its growth strategy.
Shoulder Innovations, Inc. amendment to a Schedule 13G/A reports beneficial ownership positions held by cultivate(MD) Holdings, LLC and four associated reporting persons. The filing states 15,936 shares held by Cultivate MD Capital Fund I, LLC and cites 20,647,526 shares outstanding as of March 3, 2026 used to calculate percentages. Individual reported beneficial amounts include 300,939 for David L. Blue (1.5%), 317,137 for Matthew F. Ahearn (1.5%), 767,809 for Robert J. Ball (3.6%), and 155,052 for R. Sean Churchill (0.8%).