Xtant Medical (XTNT) insider reports new DSU and PSU grants

Rhea-AI Filing Summary

Xtant Medical Holdings reported an equity award to its CFO and Assistant Secretary. On 11/15/2025, the executive received 263,291 deferred stock units (DSUs) at a price of $0, increasing his beneficial ownership of common stock to 851,465 shares held directly.

The DSUs vest in installments of 65,822 shares on each of November 15, 2026, November 15, 2027, and November 15, 2028, and 65,825 shares on November 5, 2029, subject to continued employment, with settlement deferred under the award terms. The filing also reports 526,582 performance stock units (PSUs), representing 200% of a 263,291-share target, which can convert into common stock based on stock price performance over a three-year period and additional service-based vesting conditions.

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

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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 and Assistant Secretary

3. Date of Earliest Transaction (Month/Day/Year)
11/15/2025

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	11/15/2025		A		263,291(1)	A	$0	851,465(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
Performance Stock Units (PSUs)	(3)	11/15/2025		A		526,582(4)		(3)	11/15/2028	Common Stock	526,582(4)	$0	526,582(4)	D

Explanation of Responses:

1. These shares will vest with respect to 65,822 shares on each of November 15, 2026, November 15, 2027, and November 15, 2028, and with respect to 65,825 shares on November 5, 2029 pursuant to a deferred stock unit (DSU) award granted under the Xtant Medical Holdings, Inc. Amended and Restated 2023 Equity Incentive Plan, conditioned upon the Reporting Person remaining an employee of Xtant through the applicable vesting date. The settlement of the vested shares underlying the DSU award has been deferred and will occur at a later date pursuant to the terms of the DSU award agreement. Each DSU represents a contingent right to receive one share of the Issuer's common stock.

2. Includes an aggregate of 498,914 shares issuable upon vesting and settlement of restricted stock unit (RSU) awards or DSU awards granted under the Xtant Medical Holdings, Inc. Amended and Restated 2023 Equity Incentive Plan and 85,220 shares issuable upon vesting and settlement of RSU 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.

3. Each PSU represents a contingent right to receive one share of the Issuer's common stock. The PSUs will vest and become earned in one-third increments based on the achievement of specified stock price performance goals during a three-year performance period and subject to additional service-based vesting conditions.

4. Represents the maximum number of shares that may be issued pursuant to the PSUs, which is 200% of the target number of shares (263,291).

	/s/ Amy Culbert, attorney-in-fact	11/18/2025
	** Signature of Reporting Person	Date
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FAQ

What equity awards did XTNT's CFO receive on 11/15/2025?

The CFO of Xtant Medical Holdings (XTNT) received 263,291 deferred stock units (DSUs) of common stock at a price of $0, along with 526,582 performance stock units (PSUs), which represent the maximum number of shares that may be issued if performance conditions are fully met.

How do the DSUs granted to XTNT's CFO vest?

The 263,291 DSUs will vest with respect to 65,822 shares on each of November 15, 2026, November 15, 2027, and November 15, 2028, and with respect to 65,825 shares on November 5, 2029, provided the executive remains an employee through each vesting date. Settlement of the vested DSUs will occur later under the award agreement.

What are the terms of the performance stock units (PSUs) reported by XTNT?

Each PSU is a contingent right to receive one share of Xtant Medical common stock. The 526,582 PSUs may vest and be earned in one-third increments based on specified stock price performance goals during a three-year performance period, and they are also subject to additional service-based vesting conditions.

What does the 526,582 maximum PSU amount represent for XTNT's CFO?

The 526,582 PSUs reported represent the maximum number of shares that may be issued under the PSU award, equal to 200% of the target number of shares, which is 263,291, if all performance and service conditions are fully satisfied.

How many XTNT shares does the CFO beneficially own after these transactions?

Following the reported transactions, the CFO beneficially owns 851,465 shares of Xtant Medical common stock directly. This amount includes shares issuable upon vesting and settlement of RSU and DSU awards granted under the company’s 2018 and 2023 equity incentive plans, subject to continued employment.

Under which equity incentive plans were the XTNT awards granted?

The DSU and PSU awards were granted under the Xtant Medical Holdings, Inc. Amended and Restated 2023 Equity Incentive Plan. The beneficial ownership total also reflects 85,220 shares issuable upon vesting and settlement of RSU awards granted under the Amended and Restated 2018 Equity Incentive Plan, all conditioned on continued employment through the respective vesting dates.