Shoulder Innovations (SI) COO Matthew Ahearn Sells 22,500 Shares

What Happened

• Matthew Fraser Ahearn, COO of Shoulder Innovations, disposed of a total of 25,000 shares in mid‑August 2026: he gifted 2,500 shares (8/14, gift, $0) and sold 22,500 shares in three open‑market transactions (8/17–8/18) for aggregate proceeds of approximately $464,805. The sales broke down as 8,314 shares on 2026‑08‑17 for ~$167,101 (weighted avg $20.10), 12,586 shares on 2026‑08‑18 for ~$263,493 (weighted avg $20.94), and 1,600 shares on 2026‑08‑18 for ~$34,211 (weighted avg $21.38). The sales were reported as disposals (S) and the gift as G.

Key Details

• Transaction dates and reported prices:
  • 2026‑08‑14: Gift of 2,500 shares (value reported $0).
  • 2026‑08‑17: Sale of 8,314 shares, weighted avg $20.10 (range $20.00–$20.525; F2).
  • 2026‑08‑18: Sale of 12,586 shares, weighted avg $20.94 (range $20.25–$21.24; F3).
  • 2026‑08‑18: Sale of 1,600 shares, weighted avg $21.38 (range $21.25–$21.46; F4).
• Total proceeds from the sales: ~ $464,805.
• Shares owned after the transactions: Not stated in the provided filing excerpt.
• Notable footnote: The sales were effected under a prearranged Rule 10b5‑1 trading plan adopted March 13, 2026 (F1). Footnotes F2–F4 note that the reported prices are weighted averages across multiple executions and provide price ranges.
• Filing timeliness: Form 4 filed 2026‑08‑18 covering a report period of 2026‑08‑14; the excerpt provided does not include a late‑filing flag—check the full filing for any timeliness designation.

Context

• The 2,500‑share gift is a non‑transactional transfer and does not necessarily reflect market sentiment. The sales were executed under a Rule 10b5‑1 plan, which is a prearranged program that allows insiders to sell shares at scheduled times and is commonly used to avoid questions about trading on inside information. Sales are routine insider disposals; purchases would typically carry more direct bullish signal for investors.