Robert Joseph Ball - 11 Sep 2025 Form 4 Insider Report for SHOULDER INNOVATIONS, INC. (SI)

Role: CEO & EXECUTIVE CHAIRMAN, Director
Signature: /s/ Jeffrey Points, as Attorney-in-Fact
Issuer symbol: SI
Transactions as of: 11 Sep 2025
Net transactions value: +$122,755
Form type: 4
Filing time: 15 Sep 2025, 16:15:37 UTC
Previous filing: 05 Aug 2025
Next filing: 15 Dec 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Ball Robert Joseph	CEO & EXECUTIVE CHAIRMAN, Director	C/O SHOULDER INNOVATIONS, INC., 1535 STEELE AVENUE SW, SUITE B, GRAND RAPIDS	/s/ Jeffrey Points, as Attorney-in-Fact	15 Sep 2025	0002070664

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SI	Common Stock	Purchase	$29,810	+2,000	+1.9%	$14.90	105,259	11 Sep 2025	Direct	F1
transaction	SI	Common Stock	Purchase	$92,945	+6,000	+5.7%	$15.49	111,259	12 Sep 2025	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $14.8096 to $15.00. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F2	The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $14.9196 to $15.815. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Content

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $14.8096 to $15.00. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $14.9196 to $15.815. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.