McLeod Ian 4

What Happened

• Ian McLeod, SVP, CAO & Treasurer of Anika Therapeutics (ANIK), had 2,197 restricted stock units (RSUs) vest on March 9, 2026. The RSUs converted into 2,197 shares.
• To cover tax withholding on the vesting, 639 shares were retained by the company at $14.96 per share (total withholding value $9,559). After withholding, McLeod received a net 1,558 shares.
• This is a routine equity award vesting (not an open‑market buy or voluntary sale); the tax withholding is a standard cashless settlement.

Key Details

• Transaction date: March 9, 2026; Form 4 filed March 11, 2026 (timely — within the required reporting window).
• Vesting/conversion shown as derivative exercise/conversion (code M); tax withholding shown as payment of tax liability via share retention (code F).
• Withheld shares: 639 at $14.96/share = $9,559 withheld to satisfy taxes.
• Net shares delivered to insider: 2,197 − 639 = 1,558 shares.
• Shares owned after the transaction: Not specified in the filing.
• Relevant footnotes:
  • F1: Each RSU converts to one share of common stock.
  • F3: 639 shares were retained by the issuer to satisfy tax withholding for RSUs that vested on March 9, 2026.
  • F4: These 2,197 shares represent the third and final annual installment of a 6,590‑RSU grant made March 9, 2023.
  • F2 notes prior ESPP purchases (528 shares on 2025‑05‑14 and 616 shares on 2025‑11‑14) referenced in the filing.

Context

• This was a vesting/settlement of RSUs (equity compensation). The company withheld shares to cover withholding taxes (a common cashless net‑settlement); it is not an indication of a discretionary open‑market sale or purchase by the insider.
• Such award vestings are routine compensation events and do not necessarily signal the insider’s view of the stock.