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Surrozen (SRZN) EVP sells shares to cover RSU tax withholding

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Surrozen executive Li Yang reported routine equity transactions tied to restricted stock units (RSUs). On May 1, 2026, Yang exercised 4,375 RSUs, receiving an equal number of Surrozen common shares at a conversion price of $0.00 per share. Each RSU represents a contingent right to one share of common stock.

On May 4, 2026, 1,584 common shares were sold at a weighted average price of $33.33 per share to cover withholding taxes upon RSU vesting, in transactions initiated by Surrozen. These sales occurred in multiple trades between $33.04 and $33.63 per share. After the sale, Yang directly held 17,216 common shares and also reported indirect holdings of 351 shares for a son and 351 shares for a daughter. The reported RSUs vest in two equal installments on May 1, 2026 and May 1, 2027.

Positive

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Negative

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Insider Li Yang
Role Exec. Vice President, Research
Sold 1,584 shs ($53K)
Type Security Shares Price Value
Sale Common Stock 1,584 $33.3328 $53K
Exercise Restricted Stock Unit 4,375 $0.00 --
Exercise Common Stock 4,375 $0.00 --
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 17,216 shares (Direct, null); Restricted Stock Unit — 4,375 shares (Direct, null); Common Stock — 351 shares (Indirect, By daughter)
Footnotes (1)
  1. Each restricted stock unit, or RSU, represents a contingent right to receive one share of the Issuer's common stock. The shares were sold to cover withholding taxes upon vesting of RSUs in transactions that were initiated by the Issuer on the reporting person's behalf. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $33.04 to $33.63, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range. These RSUs vest in two equal installments on May 1, 2026 and May 1, 2027.
Shares sold for taxes 1,584 shares Common stock sold May 4, 2026 to cover withholding taxes
Weighted average sale price $33.3328 per share Tax-related share sale on May 4, 2026; trades from $33.04–$33.63
RSUs exercised 4,375 units RSUs converted into 4,375 common shares at $0.00 on May 1, 2026
Direct holdings after transactions 17,216 shares Common stock directly owned by Li Yang after May 4, 2026 sale
Indirect holdings by son 351 shares Common stock indirectly owned, reported as held by son as of May 1, 2026
Indirect holdings by daughter 351 shares Common stock indirectly owned, reported as held by daughter as of May 1, 2026
Future RSU vesting dates May 1, 2026 and May 1, 2027 RSUs vest in two equal installments on these dates
Restricted Stock Unit financial
"Each restricted stock unit, or RSU, represents a contingent right to receive one share"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
withholding taxes financial
"The shares were sold to cover withholding taxes upon vesting of RSUs"
Withholding taxes are amounts a payer or government takes out of payments — such as wages, interest, or dividends — before the recipient gets the money, functioning like a cashier keeping part of a bill to pay taxes on your behalf. For investors this matters because it reduces the cash they actually receive, affects net returns and yield calculations, and may require additional paperwork or treaty claims to recover or offset the withheld amount against final tax bills.
weighted average price financial
"The price reported in Column 4 is a weighted average price"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
indirect ownership financial
"total_shares_following_transaction 351.0000, direct_or_indirect I, nature_of_ownership By son"
derivative exercise/conversion financial
"transaction_action derivative exercise/conversion for RSU and related common stock entry"
Form 4 Insider Transactions: What Each Field Means →
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*
Li Yang
(Last)(First)(Middle)
C/O SURROZEN, INC.
171 OYSTER POINT BLVD., SUITE 400
(Street)
SOUTH SAN FRANCISCO CALIFORNIA 94080
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Surrozen, Inc./DE [ SRZN ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Exec. Vice President, Research
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026		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 Stock05/01/2026M4,375A(1)18,800D
Common Stock05/04/2026S1,584D$33.3328(2)17,216D
Common Stock351IBy daughter
Common Stock351IBy son
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
Restricted Stock Unit(1)05/01/2026M4,375 (3) (3)Common Stock4,375$04,375D
Explanation of Responses:
1. Each restricted stock unit, or RSU, represents a contingent right to receive one share of the Issuer's common stock.
2. The shares were sold to cover withholding taxes upon vesting of RSUs in transactions that were initiated by the Issuer on the reporting person's behalf. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $33.04 to $33.63, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.
3. These RSUs vest in two equal installments on May 1, 2026 and May 1, 2027.
/s/ Charles Williams, Attorney-in-Fact for Yang Li05/05/2026
** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Li Yang report for Surrozen (SRZN)?

Li Yang, Surrozen’s Executive Vice President of Research, reported exercising 4,375 restricted stock units into common shares and selling 1,584 shares. The sale was to cover withholding taxes following RSU vesting and was initiated by Surrozen on Yang’s behalf.

How many Surrozen (SRZN) shares did Li Yang sell and at what price?

Li Yang reported selling 1,584 Surrozen common shares at a weighted average price of $33.33 per share. The shares were sold in multiple transactions, with individual prices ranging from $33.04 to $33.63, solely to satisfy tax withholding obligations.

What RSU activity did Li Yang disclose in the Surrozen (SRZN) Form 4?

Li Yang exercised 4,375 restricted stock units, receiving 4,375 Surrozen common shares at a $0.00 conversion price. Each RSU represents a contingent right to one common share, and the related RSUs vest in two equal installments on May 1, 2026 and May 1, 2027.

How many Surrozen (SRZN) shares does Li Yang hold after these transactions?

After the reported transactions, Li Yang directly holds 17,216 Surrozen common shares. The Form 4 also reports indirect ownership of 351 shares held by a son and 351 shares held by a daughter, in addition to Yang’s direct position.

How do Li Yang’s Surrozen (SRZN) RSUs vest over time?

The Form 4 states the relevant restricted stock units vest in two equal installments on May 1, 2026 and May 1, 2027. Each vested RSU entitles Li Yang to receive one Surrozen common share when the vesting conditions are satisfied.