SHOULDER INNOVATIONS, INC. — Director's Dealing 2026

Jan 8, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SHOULDER INNOVATIONS, INC. (SI)
CIK: 0001699350
Period of Report: 2025-12-31

Reporting Person: Points Jeffrey S. (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-31	Common Stock	A	1076	$12.16	Acquired	55521	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	50	Indirect

Footnotes

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.