BUCKMAN PAUL 4

What Happened Paul Buckman, a director of Shoulder Innovations, Inc. (SI), was granted 5,046 restricted stock units (RSUs) on 2026-06-26. The award price is $0.00 (no cash paid); each RSU represents a contingent right to one share of common stock. The RSUs will vest on the earlier of the company's 2027 annual meeting or June 26, 2027. Buckman elected to defer receipt of the shares issuable upon settlement of the RSUs until he leaves the Board.

Key Details

• Transaction type: Award/Grant (code A) — 5,046 RSUs granted on 2026-06-26 at $0.00 per unit (total cash outlay $0).
• Vesting: RSUs vest on the earlier of the 2027 annual meeting or June 26, 2027. No expiration date for the RSUs.
• Deferral: Reporting person voluntarily elected to defer receipt of the underlying shares until departure from the Board.
• Filing: Form 4 filed 2026-06-29 for a transaction dated 2026-06-26; filing appears timely.
• Shares owned after transaction: Not specified in the filing.

Context This transaction is a compensation award (RSUs), not an open-market purchase or sale. Awards like this are common for directors and should be viewed as equity compensation rather than a direct bullish or bearish trading signal. Each RSU converts to one share upon settlement, subject to the vesting and deferral terms described above.