Blanchard Cheryl R 4

What Happened

• Cheryl R. Blanchard, a director of Anika Therapeutics (ANIK), had RSUs/PSUs vest on March 14–15, 2026 and received an aggregate of 49,651 shares (24,520 on Mar 14; 25,131 on Mar 15). The filings show conversion/exercise of derivative awards into common stock (Form 4 code M/A) and the issuer withholding shares to cover tax obligations (code F).
• The issuer retained 14,728 shares on March 14 and 12,104 shares on March 15 to satisfy withholding, at an indicated withholding value of $14.20 per share — totals $209,138 and $171,877 respectively (combined ~$381,015). Net shares delivered to Blanchard after withholding: 22,819 shares.

Key Details

• Dates and prices: Vesting/conversion on Mar 14–15, 2026; withheld shares valued at $14.20 per share (F entries).
• Shares acquired: 24,520 (A) on Mar 14 and 25,131 (A) on Mar 15; derivative exercise/conversion entries mirror these amounts (M).
• Shares withheld (taxes): 14,728 (Mar 14) and 12,104 (Mar 15) for a combined 26,832 shares withheld (~$381,015).
• Net shares received: 49,651 gross − 26,832 withheld = 22,819 net shares.
• Footnotes: RSUs = one share each (F1). The March 2026 vestings were the first (or second, per award) installment(s) of RSU/PSU grants made in prior years (see F2, F6, F7). F5 notes some shares are held in a trust of which she is beneficiary/trustee.
• Filing timeliness: Form filed Mar 17, 2026 for transactions on Mar 14–15, 2026; appears timely per the filing date.

Context

• These transactions are award vestings with mandatory withholding to satisfy tax liabilities — common and not the same as an open-market sale. The F-code “Payment of exercise price or tax liability” here reflects shares retained by the issuer to cover taxes, not a public sale.
• Because this is receipt of equity (with tax withholding), it is not a directional buy/sell signal in the way an open-market purchase or sale is; it documents compensation-related vesting and routine tax withholding.