Ball Robert Joseph 4

4 · SHOULDER INNOVATIONS, INC. · Filed Feb 10, 2026

AI-generated summary of this filing

Updated Feb 10, 2026

Shoulder Innovations (SI) CEO Robert Ball Exercises Options

What Happened

Robert Joseph Ball, CEO, Executive Chairman and a director of Shoulder Innovations (SI), exercised options on February 6, 2026, acquiring 12,062 shares of common stock for total cash of $29,132 (10,000 shares at $2.48 for $24,804; 2,062 shares at $2.10 for $4,328). The filing also shows corresponding derivative-disposition entries for 10,000 and 2,062 shares reported at $0 (these appear on the Form 4 as derivative conversion/settlement entries).

Key Details

Transaction date: 2026-02-06; Form 4 filed: 2026-02-10 (the filing shows the trade date and the later filing date).
Exercise details: 10,000 shares @ $2.48 (cash paid $24,804); 2,062 shares @ $2.10 (cash paid $4,328); total cash outlay $29,132 to acquire 12,062 shares.
Derivative disposals: entries for 10,000 and 2,062 shares at $0 are also reported on the same date (listed as derivative dispositions on the form).
Shares owned after transaction: the filing does not state a clear post-transaction total; it references prior reported beneficial ownership of 120,118 shares held directly.
Footnotes of note:
- F1 lists several in-kind distributions previously received (Genesis and multiple Cultivate MD funds) and notes prior reported ownership of 120,118 shares.
- F2 describes a vesting schedule (one-fourth vested May 17, 2024, then monthly vesting thereafter).
- F3 states a stock option is fully vested and currently exercisable.
Timeliness: Form 4 was filed four days after the transaction (filed 2026-02-10 for actions on 2026-02-06).

Context

This was an option exercise (transaction code M). Ball paid cash to exercise options and acquired shares rather than selling shares immediately; purchases or exercises are often viewed as a stronger signal of insider demand than routine sales, though filings do not reveal motivation.
The $0 disposition lines reflect derivative/settlement reporting on the Form 4 and do not show cash proceeds. For retail investors, the key takeaway is that the CEO increased his direct shareholding by 12,062 shares via exercise.

Form 4

Period: 2026-02-06

DirectorCEO & Executive Chairman

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-02-06$2.48/sh+10,000$24,804→ 274,604 total
Exercise/Conversion
Common Stock
2026-02-06$2.10/sh+2,062$4,328→ 276,666 total
Exercise/Conversion
Stock Option
[F2]
2026-02-06−10,000→ 319,756 total
Exercise: $2.48Exp: 2033-05-17→ Common Stock (10,000 underlying)
Exercise/Conversion
Stock Option
[F3]
2026-02-06−2,062→ 181,376 total
Exercise: $2.10Exp: 2030-12-16→ Common Stock (2,062 underlying)

Footnotes (3)

[F1]Includes the following shares received without consideration as in-kind distributions: (i) 110,331 shares from Genesis Investment Holdings; (ii) 7,859 shares from cultivate(MD) Capital Accelerator Fund, L.P.; (iii) 6,948 shares from Cultivate MD Capital Fund I, LLC; and (iv) 19,348 shares from Cultivate MD Capital Fund II, LP. In prior reports, the reporting person reported beneficial ownership of 120,118 shares of Shoulder Innovations common stock held directly.
[F2]The stock option vested as to one-fourth of the underlying shares on May 17, 2024, and the remaining shares vest in 36 equal increments on the last day of each calendar month thereafter.
[F3]The stock option is fully vested and currently exercisable.

Signature

/s/ Jeffrey Points, as Attorney-in-Fact|2026-02-10

1 file