Hykes Andrew 4

What Happened Andrew Hykes, a director of Shoulder Innovations, Inc. (SI), received an award of 5,046 restricted stock units (RSUs) on 2026-06-26. The RSUs were granted at $0.00 per unit (total cash value reported $0). Each RSU is a contingent right to one share of common stock and will vest on the earlier of the 2027 annual meeting of stockholders or June 26, 2027. The reporting person has elected to defer receipt of the underlying shares until he leaves the Board.

Key Details

• Transaction date: 2026-06-26; Form 4 filed 2026-06-29 (reporting period 2026-06-26).
• Transaction type/code: Grant/Award (A). Price per unit: $0.00; total cash paid: $0.
• RSUs granted: 5,046. Vesting: earlier of the 2027 annual meeting or June 26, 2027; no expiration.
• Shares/units owned after transaction: 6,769 beneficially held securities (5,046 RSUs + 1,723 shares received in-kind).
• Footnote: 1,723 of the post-transaction shares were received without consideration as an in-kind distribution from Gilmartin Capital Fund I, LP. Prior reports showed no beneficial ownership for Mr. Hykes.
• Filing status: appears timely (no late-filing flag noted).

Context

• This was an equity award (not an open-market buy or sale) and therefore does not reflect an immediate purchase or cash proceeds. Awards like RSUs are common compensation for directors and only convert to actual shares upon vesting/settlement.
• The voluntary deferral of settlement means Mr. Hykes will not receive the underlying shares until he departs the Board, which delays any potential sale or voting of those shares.