[Form 4] Xtant Medical Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Insider transaction summary: This Form 4 reports that Neils Scott C, identified as the company's Chief Financial Officer and a director of Xtant Medical Holdings, Inc. (XTNT), had 34,131 shares disposed on 08/15/2025 under transaction code F at a price of $0.63 per share. The filing states these shares were withheld by the issuer to satisfy tax withholding obligations upon vesting of restricted stock units. After the transaction, the reporting person beneficially owned 588,174 shares, which includes 235,623 shares issuable under the 2023 Equity Incentive Plan and 85,220 shares issuable under the Amended and Restated 2018 Equity Incentive Plan, all conditioned on continued employment through vesting. The form is signed by an attorney-in-fact and dated 08/19/2025.

Positive

• Transaction is an administrative tax-withholding (Code F), indicating routine RSU vesting rather than an open-market sale
• Clear disclosure of unvested awards: 235,623 shares under the 2023 Equity Incentive Plan and 85,220 under the 2018 Plan, showing alignment via equity compensation
• Reporting person remains substantially invested with 588,174 shares beneficially owned after the withholding

Negative

• None.

Insights

Financial Analyst

TL;DR Routine tax-withholding sale following RSU vesting; no indication of voluntary market sale or change in control.

The reported transaction is coded F, which the filer explains as shares withheld by the issuer to satisfy tax-withholding upon RSU vesting. This is a common, non-dispositive administrative transfer and does not represent an open-market sale. The post-transaction beneficial ownership of 588,174 shares includes a substantial portion of unvested awards (320,843 shares combined), indicating continued incentive alignment with equity compensation. From a near-term liquidity or dilution perspective, the event is immaterial to company operations and financials.

Corporate Governance Expert

TL;DR Administrative withholding for tax on vested RSUs; governance practices appear routine and properly disclosed.

The filing clearly identifies the reporting person as CFO and director and discloses the mechanism for the disposition (withholding to cover taxes). The inclusion of the counts of issuable shares under two equity plans (2023 Plan: 235,623; 2018 Plan: 85,220) provides transparency on potential future dilution and retention incentives. Signature by an attorney-in-fact is properly dated. There are no governance red flags or unexplained transfers in this filing.

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

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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^*

Neils Scott C

(Last) (First) (Middle)

C/O XTANT MEDICAL HOLDINGS, INC.

664 CRUISER LANE

(Street)

BELGRADE MT 59714

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Xtant Medical Holdings, Inc. [ XTNT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		F(1)		34,131(1)	D	$0.63	588,174(2)	D

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

Explanation of Responses:

1. These shares were withheld by the Issuer to pay tax withholding obligations upon vesting and settlement of restricted stock unit awards.

2. Includes an aggregate of 235,623 shares issuable upon vesting and settlement of restricted stock unit awards or deferred stock unit awards granted under the Xtant Medical Holdings, Inc. 2023 Equity Incentive Plan and 85,220 shares issuable upon vesting and settlement of restricted stock unit awards granted under the Xtant Medical Holdings, Inc. Amended and Restated 2018 Equity Incentive Plan, in each case conditioned upon the Reporting Person remaining an employee of Xtant through the respective vesting dates.

	/s/ Amy Culbert, attorney-in-fact	08/19/2025
	** 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.
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FAQ

What transaction did XTNT CFO Neils Scott C report on Form 4?

The Form 4 reports that 34,131 shares were disposed of on 08/15/2025 under code F at $0.63 per share, representing shares withheld for tax withholding upon RSU vesting.

How many XTNT shares does the reporting person beneficially own after the transaction?

After the transaction, the reporting person beneficially owned 588,174 shares, inclusive of vested and unvested awards.

How many unvested or issuable shares are disclosed for Neils Scott C?

The filing discloses 235,623 shares issuable under the 2023 Equity Incentive Plan and 85,220 shares issuable under the Amended and Restated 2018 Equity Incentive Plan, contingent on continued employment through vesting dates.

Does this Form 4 indicate an open-market sale by the insider?

No. The transaction is coded F and is explained as shares withheld by the issuer to satisfy tax withholding upon RSU vesting, not an open-market sale.

Who signed the Form 4 and when?

The Form 4 was signed by Amy Culbert, attorney-in-fact on 08/19/2025.