Sherman Darren 4

What Happened
Darren Sherman, President and Chief Operating Officer of Orchestra BioMed (OBIO), had 33,317 restricted stock units (RSUs) withheld to satisfy tax withholding obligations on vesting. The filing records the withholding at an effective price of $4.57 per share, a total value of $152,259; the shares were treated as disposed for tax withholding purposes, not sold on the open market.

Key Details

• Transaction date: 2026-03-25; filing date: 2026-03-27 (filed within the typical 2-business-day Form 4 window).
• Withheld shares: 33,317 at $4.57 each; total value reported $152,259.
• Shares were withheld by the issuer to cover taxes — no open-market sale occurred (per footnote).
• Shares owned after the transaction: not disclosed in this filing.
• Footnote: withholding of shares to satisfy tax obligations in connection with RSU vesting; no shares sold in the market.

Context
Tax-withholding transactions on RSU vesting are routine administrative events and do not necessarily signal the insider’s view of the company; they differ from open-market sales or purchases because no shares were sold into the market.