Robert Joseph Ball - 11 Dec 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 Dec 2025
Net transactions value: +$107,009
Form type: 4
Filing time: 15 Dec 2025, 16:51:45 UTC
Previous filing: 15 Sep 2025
Next filing: 08 Jan 2026
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 Dec 2025	0002070664

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SI	Common Stock	Purchase	$48,934	+3,300	+3%	$14.83	114,557	11 Dec 2025	Direct	F1
transaction	SI	Common Stock	Purchase	$58,075	+3,900	+3.4%	$14.89	118,457	12 Dec 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 purchase price. The shares of Common Stock were purchased in multiple transactions at prices ranging from $14.56 to $15.16, inclusive. The Reporting Person undertakes to provide upon request by the staff of the Securities & Exchange Commission, the Issuer or any security holder of the Issuer, full information regarding the number of shares of Common Stock purchased at each separate price within the range set forth herein.
F2	The price reported in Column 4 is a weighted average purchase price. The shares of Common Stock were purchased in multiple transactions at prices ranging from $14.60 to $15.26, inclusive. The Reporting Person undertakes to provide upon request by the staff of the Securities & Exchange Commission, the Issuer or any security holder of the Issuer, full information regarding the number of shares of Common Stock purchased at each separate price within the range set forth herein.

Content

The price reported in Column 4 is a weighted average purchase price. The shares of Common Stock were purchased in multiple transactions at prices ranging from $14.56 to $15.16, inclusive. The Reporting Person undertakes to provide upon request by the staff of the Securities & Exchange Commission, the Issuer or any security holder of the Issuer, full information regarding the number of shares of Common Stock purchased at each separate price within the range set forth herein.

The price reported in Column 4 is a weighted average purchase price. The shares of Common Stock were purchased in multiple transactions at prices ranging from $14.60 to $15.26, inclusive. The Reporting Person undertakes to provide upon request by the staff of the Securities & Exchange Commission, the Issuer or any security holder of the Issuer, full information regarding the number of shares of Common Stock purchased at each separate price within the range set forth herein.