CHURCH KATRINA J 4

What Happened
Katrina J. Church, SVP & Chief Compliance Officer of Bioventus (BVS), exercised/converted derivatives on March 13, 2026 and reported multiple prior and new RSU/option grants. On 2026-03-13 she converted/exercised 3,455 and 3,500 derivative units (reported at $0.00 exercise price), and to satisfy tax withholding she surrendered 1,501 and 1,521 shares at $8.62 each (total withholding ≈ $26,050). The filing also reports grants/awards of RSUs/options: 14,000 and 16,000 (granted 2025-03-14), 24,000 and 27,000 (granted 2026-03-13), plus an original 13,823-RSU grant noted in a footnote.

Key Details

• Transaction dates: March 14, 2025 (grants) and March 13, 2026 (exercises/conversions, grants, and tax withholding). Filing date: 2026-03-17 (Accession 0001204391-26-000004).
• Tax withholding sales: 1,501 shares × $8.62 = $12,939; 1,521 shares × $8.62 = $13,111; combined ≈ $26,050.
• Exercises/conversions (reported at $0.00): 3,455 and 3,500 shares on 2026-03-13 (acquired as part of derivative conversion).
• Grants/awards reported: 14,000 and 16,000 (3/14/2025); 24,000 and 27,000 (3/13/2026); original 13,823 RSUs (earlier grant).
• Footnotes: F1—each RSU converts to one share on settlement; F2/F3—new RSUs/options vest in four equal annual installments starting March 15, 2025 and March 15, 2026 respectively; F4—original 13,823 RSUs vest began March 14, 2023.
• Shares owned after the transactions are not specified in the provided excerpt. No explicit late-filing indicator was provided in the supplied data.

Context

• This appears to be routine equity compensation activity: RSU/option grants and conversion/exercise of derivatives with shares withheld/surrendered to cover tax obligations (code F), effectively a cashless tax-withholding mechanism. Such withholding is common and does not necessarily indicate a deliberate market sale for investment reasons.