Tenon Medical CEO Steven Foster Receives RSUs, Sells Shares for Taxes

What Happened

• Steven M. Foster, CEO, President and Director of Tenon Medical (TNON), had 140,936 restricted stock units (RSUs) convert into 140,936 shares of common stock on July 31, 2026. The conversion is reported as a derivative exercise/conversion (code M) at $0.00 per share.
• A portion of those shares—41,788 shares—were sold on August 3, 2026 to satisfy tax withholding obligations at $0.20 per share, generating proceeds of $8,274 (reported with code F for tax withholding). This was a sell-to-cover for taxes rather than an open-market investment sale.

Key Details

• Transaction dates and prices:
  • 2026-07-31: RSU conversion of 140,936 RSUs into 140,936 shares (code M) at $0.00.
  • 2026-08-03: Sale/withholding of 41,788 shares at $0.20 each for $8,274 (code F).
• Shares owned after transaction: not specified in the provided filing summary.
• Relevant footnotes:
  • F1: The RSUs were originally granted on October 13, 2025 and converted on July 31, 2026.
  • F2: The 41,788 shares were sold to pay the tax liability associated with the RSU vesting.
  • F3: Each RSU represents a contingent right to one share of common stock.
• Filing timeliness: Report filed August 4, 2026 for a July 31, 2026 transaction—filed within the SEC’s two-business-day reporting window (timely).

Context

• This was a conversion of RSUs and a routine sell-to-cover for tax withholding, not a voluntary market sale expressing investment sentiment. The net cash realized from the sale was modest (~$8.3k), and the primary action was issuance/vesting of compensation stock rather than a purchased stake.