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

What Happened

• Gilde Healthcare Holding B.V., disclosed as a 10% owner of Shoulder Innovations, sold shares in open-market/private transactions on Aug 20, 21 and 24, 2026. Reported line items: 3,900 shares @ $22.60 on 8/20 ($88,140); 20,516 shares @ $22.61 on 8/21 ($463,867); and 681 shares @ $22.62 on 8/24 ($15,404). Total reported proceeds ≈ $567,411 for 25,097 shares. This is a sale (liquidity/institutional disposition), not a purchase.

Key Details

• Transaction dates & reported prices: 2026-08-20 (3,900 @ $22.60), 2026-08-21 (20,516 @ $22.61), 2026-08-24 (681 @ $22.62).
• Total shares sold: 25,097; total proceeds: approx. $567,411.
• Shares owned after the transactions: not specified in the information provided in your summary.
• Footnotes of note:
  • F1 explains the ownership chain: shares held directly by Cooperatieve Gilde Healthcare V U.A. (Gilde); voting/dispositive power held by Gilde Healthcare V Management B.V.; Gilde Healthcare Holding B.V. is the owner of that manager and Gilde is a 10% owner. A named partner (Geoff Pardo) may be deemed to share power but disclaims beneficial ownership except for pecuniary interest.
  • F2/F3 state the reported prices are weighted averages of multiple trades (ranges $22.60–$22.67 and $22.60–$22.78) and the filer will provide full price-by-price details to the SEC or shareholders on request.
• Filing date: Form 4 accession shows filing on 2026-08-24 covering trades Aug 20–24. The filing does not here indicate a timeliness exception; investors should note SEC Form 4s are generally due within two business days of the transaction.

Context

• This filing reflects institutional selling by a 10% owner rather than insider (executive) trading; such dispositions may be for portfolio or other institutional reasons and do not, by themselves, indicate management sentiment.
• Footnotes indicate multiple underlying trades aggregated into weighted-average prices; detailed per-trade prices are available from the filer on request.