Fain Eric S 4

What Happened

• Eric S. Fain, a director of Orchestra BioMed Holdings, Inc. (OBIO), made an open-market purchase of 20,000 common shares on May 14, 2026.
• The filing reports a weighted-average purchase price of $4.13 per share (range $4.10–$4.14), for an aggregate cost of approximately $82,600. This was a straight purchase (transaction code P), which investors typically view as a direct buy rather than a sale or option exercise.

Key Details

• Transaction date: 2026-05-14. Form 4 filed: 2026-05-18 (timely — within the SEC’s two business-day window).
• Price: weighted average $4.13; individual trades ranged $4.10–$4.14 (see footnote F1).
• Shares acquired: 20,000; aggregate value ≈ $82,600.
• Shares owned after transaction: not disclosed in the provided filing.
• Footnote: F1 notes the $4.13 is a weighted average of multiple trades and that the reporting person will provide the exact breakdown of shares at each price on request.
• Transaction type: P = Purchase (open-market).

Context

• Director purchases are often considered meaningful signals because insiders may have more company knowledge, but filings are factual disclosures only — they do not state motive.
• This was a straightforward buy (not an option exercise, gift, or tax-withholding event) and was reported on time.