SUTTER MARTIN P 4

What Happened
Martin P. Sutter, reported as a 10% owner and a manager of the general partner that controls certain Bioventus holdings, had 32,282 restricted stock units (RSUs) vest and convert into 32,282 shares on June 2, 2026 (exercise/conversion of a derivative; $0.00 per share). The Form 4 also shows a corresponding derivative "disposed" entry for the same 32,282 units on June 2, which reflects the settlement/conversion of the RSUs rather than an open-market sale. On June 3, 2026 he was granted 25,146 additional RSUs (award) at $0.00 per unit. No cash was paid or received in these transactions.

Key Details

• Transaction dates and prices: June 2, 2026 — 32,282 RSUs vested/converted into common shares at $0.00; June 3, 2026 — grant of 25,146 RSUs at $0.00.
• Total immediate shares received: 32,282 common shares; new contingent award: 25,146 RSUs. Cash exchanged: $0.00.
• Shares owned after transaction: the filing does not state Sutter’s individual share total. Footnote F1 shows funds managed by the group hold 12,096,702 and 924,622 Class A shares; the Managers disclaim beneficial ownership except for pecuniary interest.
• Footnotes: F2 = each RSU converts to one share; F3 = RSUs that vested did so on June 2, 2026; F4 = new RSUs vest the earlier of the first post‑grant annual meeting or one year, subject to continued board service.
• Timeliness: Form filed June 4, 2026 for transactions on June 2–3 — appears to be filed within the usual Form 4 timing (no late filing indicated).
• Transaction codes: M = exercise/conversion of derivative; A = award/grant.

Context
These entries are typical compensatory events for board members or managers (vesting and new RSU grants) and are not open-market purchases or sales that would signal a directional trade. As a reported 10% owner through managed funds, Sutter’s activity primarily reflects RSU settlement and a new award tied to board service; it should be viewed as routine insider compensation rather than a market-driven buy or sell.