Hochman David P 4

What Happened
David P. Hochman, Chief Executive Officer and Chairperson of Orchestra BioMed Holdings, Inc. (OBIO), was granted 504,000 restricted stock units (RSUs) on February 12, 2026. The award was reported as an acquisition (code A) at $0.00 per share (no cash paid). Each RSU represents a contingent right to one share of common stock that will be delivered if and when the RSUs vest.

Key Details

• Transaction date: 2026-02-12 (reported on Form 4 filed 2026-02-13)
• Security: 504,000 RSUs; reported acquisition price $0.00 (cash paid $0)
• Vesting schedule (per footnote): 25% vests 18 months after 2/12/2026 (≈8/12/2027); 25% at 24 months (2/12/2028); 25% at 30 months (8/12/2028); 25% at 36 months (2/12/2029), subject to continuous service through each date
• Each RSU converts to one share upon vesting; this filing does not report the insider’s total shares owned after the grant
• Transaction code: A = Award/Grant of a derivative equity interest (RSUs)
• Filing timeliness: Reported the next day (appears timely)

Context
This is a grant of deferred compensation (RSUs) rather than an open-market purchase or sale. RSU grants are common as long-term incentive pay for executives; they only convert into actual shares if vesting conditions (here, continued service) are met. Because no shares were sold or bought on the open market, this grant does not directly signal buying or selling activity by the insider.