Shoulder Innovations (SI) 10% Owner Gilde Healthcare Sells Shares

What Happened

• Gilde Healthcare Holding B.V. (reported as a 10% owner) sold a total of 48,279 shares of Shoulder Innovations, Inc. (SI) in two open‑market transactions. On 2026-07-30 it sold 28,245 shares at a weighted average price of $23.36 for proceeds of $659,803. On 2026-07-31 it sold 20,034 shares at a weighted average price of $22.73 for proceeds of $455,373. Total proceeds were about $1,115,176. These were sales (not purchases), which are often routine for institutional holders.

Key Details

• Transaction dates and prices:
  • 2026-07-30: 28,245 shares @ $23.36 (weighted avg; individual trades ranged $23.00–$23.73) — $659,803 (F1)
  • 2026-07-31: 20,034 shares @ $22.73 (weighted avg; individual trades ranged $22.60–$23.00) — $455,373 (F3)
• Total shares sold: 48,279; total proceeds: ~$1.12M.
• Shares held after transaction: not specified in the provided excerpt of the filing.
• Filing: Report filed 2026-08-03 for period of report 2026-07-30; based on transaction dates and filing date, the Form 4 appears to have been filed within the standard 2-business‑day window (timely).
• Notable footnotes (F2): Shares are held directly by Cooperatieve Gilde Healthcare V U.A. Gilde Healthcare V Management B.V. is the managing director with sole voting and dispositive power. Gilde Healthcare Holding B.V. is an owner of the managing entity; named managing partners and a partner (Geoff Pardo) are disclosed, with Mr. Pardo disclaiming beneficial ownership except to the extent of any pecuniary interest.
• Footnotes F1 and F3 explain the reported prices are weighted averages of multiple trades and that the reporting person will provide the per‑trade breakdown to the SEC or holders on request.

Context

• This filing reflects institutional selling by a disclosed 10% owner rather than an insider executive purchase; such sales can be liquidity or portfolio-management driven and do not by themselves indicate company prospects. No options were exercised and no awards or gifts were reported.