Anne Nunes - 14 Mar 2025 Form 4 Insider Report for Anika Therapeutics, Inc. (ANIK)

Footnote F1

Reflects the first vesting installment of RSUs granted on March 15, 2024, which the Company elected to settle in shares.

Footnote F2

Reflects an aggregate of 1,068 shares of common stock retained by the Issuer to satisfy tax withholding obligations with respect to RSUs that vested on March 15, 2025.

Footnote F3

Reflects the closing price of ANIK common stock on March 14, 2025, the trading day prior to which the vesting of RSUs gave rise to tax withholding obligations.

Footnote F4

Each RSU represents the contingent right to receive, at the Company's discretion, one share of the Company's common stock, or the cash equivalent of the closing price of one share of the Company's common stock, on each vest date. The RSUs vest in three equal annual installments beginning March 14, 2026.

Footnote F5

Each RSU represents the contingent right to receive, at the Company's discretion, one share of the Company's common stock, or the cash equivalent of the closing price of one share of the Company's common stock, on the vest date. The 4,650 RSUs represent the Target number of shares that may be earned in conjunction with certain market metrics prescribed under the terms of the performance-based phantom RSU award. The award shall cliff vest on the 3rd anniversary of the grant date, subject to the Compensation Committee's determination of achievement of the award prior to the vest date. The number of shares earned and subject to vest, as determined by the Compensation Committee, may be in a range from Threshold (50% of Target) to Maximum (200% of Target). No shares shall vest for achievement under Threshold.

Footnote F6

Each RSU represents the contingent right to receive, at the Company's discretion, one share of the Company's common stock, or the cash equivalent of the closing price of one share of the Company's common stock, on each vest date. The RSUs vest in three equal annual installments beginning March 15, 2025.