RAKIN KEVIN 4

What Happened Kevin Rakin, a 10% owner and non‑employee director of Elutia Inc. (ELUT), was granted 159,590 derivative awards (reported as a grant) on 2026-06-11. The awards are shown at a $0.00 price and were made under the issuer’s Non‑Employee Director Compensation Program. This was an award grant (not an open‑market buy or sale) and does not involve an immediate cash sale.

Key Details

• Transaction date: 2026-06-11; Form 4 filed: 2026-06-15 (filed within the 2-business‑day window).
• Award: 159,590 derivative shares/options reported at $0.00.
• Shares owned after the transaction: not disclosed in the provided filing excerpt.
• Footnote: The option vests and becomes exercisable on the earlier of (i) the day before the issuer’s first annual meeting following the grant or (ii) the first anniversary of the grant, subject to Rakin remaining on the board.
• Transaction type: A = Award/Grant (derivative); this is compensation, not an open‑market purchase or sale.

Context This filing reports a director compensation grant. For retail investors, such grants are routine ways companies compensate board members and do not by themselves signal a buy or sell decision. Because the award is a derivative that vests over time, any future impact on share count or selling activity will depend on vesting and whether the recipient later exercises or sells the underlying shares.