Williams Michelle LeRoux 4

What Happened

• Michelle LeRoux Williams, Chief Scientific Officer of Elutia (ELUT), had 12,500 restricted stock units (RSUs) vest and convert into 12,500 shares on March 10, 2026 (reported on Form 4).
• The issuer withheld 4,613 shares to satisfy tax withholding at $1.09 per share, totaling $5,028. The net number of shares issued to Williams was 7,887.
• The filing records the vesting/conversion as a derivative exercise (code M) and the withholding as a tax payment/disposition (code F). No open‑market purchase or open‑market sale occurred — this was a scheduled RSU vesting event with tax withholding.

Key Details

• Transaction date: March 10, 2026; Filing date: March 12, 2026 (filed within standard reporting window).
• Vesting/Conversion: 12,500 RSUs → 12,500 shares (code M). Tax withholding: 4,613 shares withheld at $1.09 each for $5,028 (code F).
• Shares owned after the transaction: Not specified in the provided filing excerpt.
• Footnotes: RSUs represent contingent rights to one share each; shares withheld were to satisfy tax withholding on vesting. The RSUs were part of a 150,000 RSU grant from Jan 31, 2024 with a multi‑date vesting schedule (see F4).
• Timeliness: Filing appears timely (transaction 3/10, filed 3/12).

Context

• This was a routine vesting of RSUs and tax withholding — common for equity compensation. The derivative code M here reflects conversion of RSUs to shares rather than an option cash exercise; the withheld shares are used to cover tax obligations and do not necessarily indicate trading intent or sentiment.