[SCHEDULE 13G] Shoulder Innovations, Inc. SEC Filing

Rhea-AI Filing Summary

FMR LLC and Abigail P. Johnson report beneficial ownership of 3,848,791 shares of Shoulder Innovations Inc. common stock, representing 19.0% of the class. The filing shows FMR LLC has 3,830,491 shares with sole voting power and 3,848,791 shares with sole dispositive power; Abigail P. Johnson is reported with sole dispositive power for the same aggregate amount and no voting power. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control. An exhibit is referenced for a 13d-1(k) agreement and powers of attorney are referenced by prior filings.

Positive

• Material stake disclosed: Reporting persons hold 3,848,791 shares representing 19.0% of common stock, a clearly disclosed, material ownership position
• Clear voting/dispositive breakdown: FMR LLC reports 3,830,491 shares with sole voting power and 3,848,791 shares with sole dispositive power, providing transparency on control over shares
• Ordinary-course certification: The filing includes a certification that the shares are held in the ordinary course of business and not to influence control

Negative

• None.

Insights

Financial Analyst

TL;DR A substantial 19.0% stake is disclosed by a major asset manager and its principal, a material shareholding for investors to note.

The reported 3,848,791 shares equal 19.0% ownership, which is above the 5% reporting threshold and material relative to the company's outstanding common stock. FMR LLC's sole voting and dispositive power figures show concentration of control over share disposition. The certification that the shares are held in the ordinary course of business limits stated intent to influence control. The reference to an Exhibit 99 for a 13d-1(k) agreement and cross-referenced powers of attorney indicates formal arrangements exist but details are not included in the filing text provided.

Corporate Governance Expert

TL;DR Reporting shows a single investment firm and its principal control significant dispositive rights without declared intent to change control.

The disclosure that FMR LLC has sole voting power for 3,830,491 shares and sole dispositive power for 3,848,791 shares, together with Abigail P. Johnson's sole dispositive power for the aggregate amount, is material for governance considerations. The filing explicitly states the holdings are not intended to influence control, which frames the stake as investment rather than an activist position. Absent the exhibit content, governance implications tied to any agreement under Rule 13d-1(k) cannot be assessed from the provided text.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

SHOULDER INNOVATIONS INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

82537J108

(CUSIP Number)

08/29/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 82537J108

1

Names of Reporting Persons

FMR LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,830,491.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,848,791.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,848,791.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

19.0 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 82537J108

1

Names of Reporting Persons

Abigail P. Johnson

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,848,791.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,848,791.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

19.0 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SHOULDER INNOVATIONS INC
(b)	Address of issuer's principal executive offices: 13827 PORT SHELDON STREET,HOLLAND,MI,USA,49424
Item 2.
(a)	Name of person filing: FMR LLC
(b)	Address or principal business office or, if none, residence: 245 Summer Street, Boston, Massachusetts 02210
(c)	Citizenship: Not applicable
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 82537J108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 3848791.00
(b)	Percent of class: 19.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page.
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 3848791.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of SHOULDER INNOVATIONS INC. No one other person's interest in the COMMON STOCK of SHOULDER INNOVATIONS INC is more than five percent of the total outstanding COMMON STOCK.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See attached Exhibit 99.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

FMR LLC

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of January 3, 2023, by and on behalf of FMR LLC and its direct and indirect subsidiaries*
Date:	09/05/2025

Abigail P. Johnson

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of January 26, 2023, by and on behalf of Abigail P. Johnson**
Date:	09/05/2025

Comments accompanying signature: * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 10, 2023, accession number: 0000315066-23-000003. ** This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 31, 2023, accession number: 0000315066-23-000038.

Exhibit Information

Please see Exhibit 99 for 13d-1(k) (1) agreement.

FAQ

How many shares of Shoulder Innovations (SI) does FMR LLC report owning?

FMR LLC reports beneficial ownership of 3,848,791 shares of Shoulder Innovations common stock.

What percentage of SI does the reported stake represent?

The aggregate amount reported represents 19.0% of the outstanding common stock.

Does FMR LLC have voting power over the shares it reports?

FMR LLC reports 3,830,491 shares with sole voting power and 0 shares with shared voting power.

Does Abigail P. Johnson have voting power over the reported shares?

Abigail P. Johnson is reported with 0 sole voting power and 0 shared voting power but with sole dispositive power for 3,848,791 shares.

Is the reported ownership intended to change or influence control of the issuer?

The filing states the securities were acquired and are held in the ordinary course of business and were not acquired or held for the purpose of changing or influencing control.

Are there additional documents referenced that provide more detail?

Yes, the filing references an Exhibit 99 for a 13d-1(k) agreement and cites powers of attorney incorporated by reference to prior Schedule 13G filings.