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

Rhea-AI Filing Summary

Xtant Medical Holdings, Inc. (XTNT) reported that one of its directors received a grant of 158,228 deferred stock units (DSUs) of common stock on November 15, 2025. The DSUs were granted at a price of $0 under the company’s Amended and Restated 2023 Equity Incentive Plan and will vest on November 15, 2026, provided the director continues to serve on the board through that date. Each DSU represents the right to receive one share of common stock, with settlement of the vested shares deferred to a later date in line with the DSU award agreement. Following this grant, the reporting person beneficially owns 158,228 shares in the form of DSUs under the plan.

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
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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^*

Lipschultz Tyler

(Last) (First) (Middle)

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)

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

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		158,228(1)	A	$0	158,228(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 are subject to a deferred stock unit (DSU) award granted under the Xtant Medical Holdings, Inc. Amended and Restated 2023 Equity Incentive Plan and will vest on November 15, 2026, conditioned upon the Reporting Person remaining a director of Xtant through the 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 158,228 shares issuable upon settlement of deferred stock units granted under the Xtant Medial Holdings, Inc. Amended and Restated 2023 Equity Incentive Plan, conditioned upon the Reporting Person remaining a director of Xtant through the vesting date.

	/s/ Amy Culbert, attorney-in-fact	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 did Xtant Medical Holdings (XTNT) disclose in this Form 4?

Xtant Medical Holdings (XTNT) disclosed that one of its directors received a grant of 158,228 deferred stock units (DSUs) of common stock on November 15, 2025 under the company’s Amended and Restated 2023 Equity Incentive Plan.

How many Xtant (XTNT) shares are covered by the new director award?

The director award covers 158,228 deferred stock units, with each DSU representing a contingent right to receive one share of Xtant Medical Holdings common stock upon settlement.

When do the Xtant (XTNT) deferred stock units vest and what is the condition?

The 158,228 deferred stock units will vest on November 15, 2026, provided the reporting person remains a director of Xtant through the vesting date.

At what price were the Xtant (XTNT) deferred stock units granted?

The deferred stock units were granted at a price of $0, reflecting that this is an equity compensation award rather than an open-market purchase.

When will the Xtant (XTNT) shares underlying the DSUs be delivered?

The filing states that settlement of the vested shares underlying the DSU award will occur at a later date in accordance with the terms of the DSU award agreement.

How many Xtant (XTNT) shares does the reporting person beneficially own after this transaction?

After the reported transaction, the reporting person beneficially owns 158,228 shares in the form of deferred stock units granted under the Amended and Restated 2023 Equity Incentive Plan.

Under which plan were the Xtant (XTNT) deferred stock units granted?

The deferred stock units were granted under the Xtant Medical Holdings, Inc. Amended and Restated 2023 Equity Incentive Plan as part of the director’s equity compensation.