Tenon Medical insider invests in ATM PIPE with stock and warrants

Rhea-AI Filing Summary

Tenon Medical, Inc. (TNON) reported that its Chief Commercial Officer filed a Form 4 disclosing participation in an at-the-market private investment in public equity transaction. On November 14, 2025, the officer purchased 101,167 shares of common stock and received warrants to purchase up to 101,167 additional shares of common stock. The purchase price for each share and accompanying warrant unit was $1.285.

The warrants have an exercise price of $1.16 per share and are exercisable from November 14, 2025 until November 14, 2028. Following the transaction, the officer directly beneficially owned 239,281 shares of common stock and indirectly held 175,383 shares through SiVantage, Inc., reflecting a 24.69% equity interest in that entity.

Insider Trade Summary

3 transactions reported

Net Buy 3 txns

Insider Grawey Nathaniel A.

Role Chief Commercial Officer

Bought 202,334 shs ($0.00)

Type	Security	Shares	Price	Value
Purchase	Common Stock Purchase Warrant	101,167	$0.00	--
Purchase	Common stock	101,167	$0.00	--
holding	Common stock	--	--	--

Holdings After Transaction: Common Stock Purchase Warrant — 101,167 shares (Direct); Common stock — 239,281 shares (Direct); Common stock — 175,383 shares (Indirect, By SiVantage, Inc.)

Footnotes (1)

1. On November 10, 2025, the Issuer entered into a Securities Purchase Agreement for an at-the-market private investment in public equity transaction, in which the reporting person purchased 101,167 shares of common stock of the Issuer and warrants to purchase up to 101,167 shares of common stock of the Issuer. The purchase price for each share of common stock and accompanying warrant was $1.285. The offering closed on November 14, 2025. Reflects the reporting person's indirect interest in 710, 300 shares owned by SiVantage, Inc., a corporation in which the reporting person has a 24.69% equity interest.

Form 4 Insider Transactions: What Each Field Means →

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^*

Grawey Nathaniel A.

(Last) (First) (Middle)

104 COOPER CT.

(Street)

LOS GATOS CA 95032

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Tenon Medical, Inc. [ TNON ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Commercial Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/14/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Common stock	11/14/2025		P		101,167	A	(1)	239,281	D
Common stock								175,383	I	By SiVantage, Inc.(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock Purchase Warrant	$1.16	11/14/2025		P		101,167		11/14/2025	11/14/2028	Common Stock	101,167	(1)	101,167	D

Explanation of Responses:

1. On November 10, 2025, the Issuer entered into a Securities Purchase Agreement for an at-the-market private investment in public equity transaction, in which the reporting person purchased 101,167 shares of common stock of the Issuer and warrants to purchase up to 101,167 shares of common stock of the Issuer. The purchase price for each share of common stock and accompanying warrant was $1.285. The offering closed on November 14, 2025.

2. Reflects the reporting person's indirect interest in 710, 300 shares owned by SiVantage, Inc., a corporation in which the reporting person has a 24.69% equity interest.

	/s/ Nathaniel Grawey	11/18/2025
	** 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.

FAQ

What insider transaction did Tenon Medical (TNON) disclose in this Form 4?

The Chief Commercial Officer of Tenon Medical (TNON) reported buying 101,167 shares of common stock and receiving warrants to purchase up to 101,167 additional shares in an at-the-market private investment in public equity transaction that closed on November 14, 2025.

What was the purchase price for the Tenon Medical (TNON) shares and warrants?

The officer paid a purchase price of $1.285 for each share of Tenon Medical common stock together with an accompanying warrant to purchase one additional share.

What are the key terms of the Tenon Medical (TNON) warrants acquired?

The reporting person acquired common stock purchase warrants with an exercise price of $1.16 per share, exercisable starting November 14, 2025 and expiring on November 14, 2028, covering up to 101,167 shares of common stock.

How many Tenon Medical (TNON) shares does the officer own after the transaction?

After the reported transaction, the officer directly beneficially owned 239,281 shares of Tenon Medical common stock and indirectly held 175,383 shares through SiVantage, Inc.

What is the nature of the reporting person’s indirect ownership in Tenon Medical (TNON)?

The indirect beneficial ownership reflects the officer’s interest in 710,300 shares of Tenon Medical common stock held by SiVantage, Inc., in which the officer has a 24.69% equity interest, corresponding to 175,383 indirectly owned shares reported in the table.

What type of transaction structure did Tenon Medical (TNON) use for this insider purchase?

The transaction was part of a Securities Purchase Agreement for an at-the-market private investment in public equity (PIPE), under which the officer bought common shares and related warrants.