McLeod Ian 4

What Happened

• Ian McLeod, SVP, Chief Accounting Officer & Treasurer of Anika Therapeutics (ANIK), was granted a total of 41,954 derivative awards on March 19, 2026. The awards consist of two restricted stock unit (RSU) grants (13,097 and 11,194 units) and a Premium Priced Stock Appreciation Right (PPSAR) for 17,663 units. The awards were granted at an acquisition price of $0 (standard for equity awards); no immediate cash changed hands.

Key Details

• Transaction date: 2026-03-19; Form 4 filed 2026-03-23 (filed within the required two-business-day window).
• Award breakdown: 13,097 RSUs, 11,194 RSUs, and 17,663 PPSAR units (total 41,954).
• Acquisition price reported: $0 (grant/award).
• Vesting notes:
  • RSUs: each RSU represents the right to receive one share (or cash equivalent) on vesting (Footnote F1).
  • One RSU award vests in three equal annual installments beginning March 19, 2027 (F2).
  • One RSU award vests fully on March 19, 2029 (F3).
  • PPSAR: premium-priced SAR with an exercise price equal to 110% of the fair market value on the grant date; vests in three equal annual installments beginning March 19, 2027 and payable in cash, shares, or a mix at the company’s discretion (F4).
• Shares owned after the transaction: not specified in the provided filing details.

Context

• RSUs are not an immediate purchase — they are contingent rights to receive stock (or cash) on future vesting dates, so they do not necessarily signal an immediate market action.
• A PPSAR pays out only if the stock price exceeds the specified premium exercise price (here, 110% of the grant-date fair market value); it is an equity-based upside-only award rather than an outright share grant.
• These are company-granted awards (code A on Form 4) rather than open-market purchases or sales; they reflect compensation/equity incentive decisions rather than direct insider stock buying or selling.