[Form 4] Zimmer Biomet Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Mersana Therapeutics, Inc. (NASDAQ: MRSN) filed an 8-K to disclose the termination of its October 29, 2021 loan and security agreement with Oxford Finance LLC and other lenders. On July 1, 2025, the company paid approximately $17.9 million, which fully satisfied and discharged all outstanding indebtedness and related obligations under the agreement. As a result, the loan agreement and its related collateral security documents are no longer in effect.

The disclosure was made under Item 1.02 (“Termination of a Material Definitive Agreement”). No other material events, financial results, or operational updates were included in this filing.

Positive

• Elimination of approximately $17.9 million in outstanding debt under the 2021 Oxford Finance loan agreement.
• Termination of all related covenants and collateral obligations, giving the company increased operational flexibility.

Negative

• None.

Insights

Financial Analyst

TL;DR – Mersana extinguishes $17.9 M debt, ending 2021 Oxford Finance loan.

The filing signals a clean payoff of all obligations under the 2021 Oxford Finance facility. Eliminating this debt simplifies the balance sheet and removes any financial covenants or liens connected to the loan agreement. While the company expended $17.9 million in cash, it no longer carries the corresponding liability. The disclosure is straightforward, limited to the repayment event, and does not provide details on the post-payment liquidity position or the source of funds. Overall, the move is moderately positive because it resolves a material obligation without creating new ones.

Corporate Debt Specialist

TL;DR – Full early payoff ends lender claims and collateral ties.

From a creditor perspective, complete discharge on July 1 removes Oxford’s collateral rights and terminates the lending relationship. Such pay-offs often follow equity raises or partnering cash infusions, though the filing does not specify funding sources. Absence of penalties or continuing covenants suggests a clean exit. Investors should note that the company no longer benefits from the credit line’s liquidity but gains flexibility free from lender restrictions. With no new facility announced, the net impact leans positive yet modest until further capital strategy is disclosed.

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^*

VAN ZUILEN WILFRED

(Last) (First) (Middle)

345 E. MAIN STREET

(Street)

WARSAW IN 46580

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ZIMMER BIOMET HOLDINGS, INC. [ ZBH ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Group Pres, EMEA

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

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	07/01/2025		M		2,631	A	$0	22,165	D
Common Stock	07/01/2025		F		692(1)	D	$92.77	21,473	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
Restricted Stock Units	$0(2)	07/01/2025		M			2,631	(3)	(3)	Common Stock	2,631	$0	0	D

Explanation of Responses:

1. Represents shares withheld by the Company to satisfy tax withholding obligations on the vesting of restricted stock units ("RSUs").

2. Each RSU represents a contingent right to receive one share of the Company's common stock.

3. The remaining 2,631 RSUs vested on July 1, 2025.

	/s/ Matthew R. St. Louis, Attorney-in-Fact for Wilfred van Zuilen (power of attorney previously filed)	07/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did Mersana Therapeutics (MRSN) announce in its July 1, 2025 8-K?

The company repaid about $17.9 million to fully discharge its 2021 loan agreement with Oxford Finance and other lenders.

Which loan agreement was terminated by MRSN?

The October 29, 2021 loan and security agreement with Oxford Finance LLC and participating lenders.

Under which 8-K item is the repayment disclosed?

It is reported under Item 1.02 – Termination of a Material Definitive Agreement.

How much did Mersana pay to settle the loan?

Approximately $17.9 million was paid on July 1, 2025.

Does the filing mention any new financing replacing the repaid loan?

No. The 8-K only covers the repayment and termination; it does not reference any new credit facilities.