David Lawrence Blue - 31 Dec 2025 Form 4 Insider Report for SHOULDER INNOVATIONS, INC. (SI)

Role: Officer Title: Chief Customer Experience Officer
Signature: /s/ Jeffrey Points, as Attorney-in-Fact
Issuer symbol: SI
Transactions as of: 31 Dec 2025
Net transactions value: +$12,659
Form type: 4
Filing time: 08 Jan 2026, 17:01:36 UTC
Previous filing: 15 Sep 2025
Next filing: 03 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Blue David Lawrence	Officer Title: Chief Customer Experience Officer	C/O SHOULDER INNOVATIONS, INC., 1535 STEELE AVENUE SW, SUITE B, GRAND RAPIDS	/s/ Jeffrey Points, as Attorney-in-Fact	08 Jan 2026	0002071751

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SI	Common Stock	Award	$12,659	+1,041	+0.75%	$12.16	139,372	31 Dec 2025	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The Reporting Person is voluntarily reporting the acquisition of shares under the Issuer's 2025 Employee Stock Purchase Plan ("ESPP") .
F2	In accordance with the ESPP, these shares were purchased at a price equal to 85% of the closing price of the Issuer's common stock on December 31, 2025.

Remarks:

Officer Title: Chief Customer Experience Officer