SHOULDER INNOVATIONS, INC.

Overview

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• TickerSI on NYSE²
• IndustrySurgical & Medical Instruments & Apparatus²
• HeadquartersWilmington, United States²
• Incorporated inDE³
• Business address1535 Steele Avenue Sw, Suite B, Grand Rapids, Mi 49507³
• Filer category, Emerging growth company³
• Legal formCorporation²
• LEI529900LTH37ALD2K7437²
• StatusActive²
• LEI statusIssued and current²
• Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States²
• Registered withDivision of Corporations, Department of State, 4705207²

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We are a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market. We currently offer advanced implant systems for shoulder arthroplasty. These systems are a core element of our ecosystem, which we designed to improve core components of shoulder surgical care – preoperative planning, implant design and procedural efficiency – to benefit each stakeholder in the care chain. Our ecosystem is also comprised of enabling technologies, efficient instrument systems, specialized support and surgeon-to-surgeon collaboration. Together, these elements seek to address the long-standing clinical and operational challenges in the shoulder surgical care market by delivering predictable outcomes, procedural simplicity, and efficiency across all sites of care. We believe our exclusive focus on shoulder surgical care, combined with a highly specializ…⁴ From its latest annual report

Corporate structure

SHOULDER INNOVATIONS, INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What SHOULDER INNOVATIONS, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Investments

Intangibles and goodwill

Inventory

Properties, in its own words

Our corporate headquarters is located in Grand Rapids, Michigan where we lease a 7,000 square foot facility pursuant to a lease agreement that expires in June 2026. This facility includes warehouse, distribution and office space. We also lease a third-party approximately 3,000 square foot distribution facility in Modesto, California that distributes our implant systems in the western United States. We believe that this facility is sufficient to meet our current and anticipated needs in the near term and that suitable additional space is available as needed to accommodate expansion of our operations and distribution activities.

Item 2 of the 10-K filed Mar 10, 2026.⁴

Leadership

Who has led SHOULDER INNOVATIONS, INC., and when. Pick a name to see everywhere that person has worked.

• Chief financial officerJeffrey S. Points Jul 30, 2025 to now⁸
• Chief operating officerMatthew Fraser Ahearn Jul 30, 2025 to now⁹

Named in SEC Form D filings

People the company listed in its private-offering notices.

• Executive Officer, DirectorRobert Ball named Oct 6, 2022 to Mar 18, 2025¹⁶
• DirectorGeoff Pardo named Feb 22, 2023 to Mar 18, 2025¹⁶
• DirectorKevin Sidow named Oct 6, 2022 to Mar 18, 2025¹⁶

Timeline

1. Oct 8, 20268-K Regulation FD disclosure¹⁷
2. Aug 10, 20268-K Regulation FD disclosure¹⁸
3. Aug 6, 20268-K Results of operations¹⁹
4. Jun 29, 20268-K Entered a material agreement; Ended a material agreement; New debt or obligation²⁰
5. Jun 26, 20268-K Shareholder vote²¹
6. May 13, 20268-K Results of operations²²
7. Apr 27, 20268-K Regulation FD disclosure²³
8. Apr 14, 20268-K Entered a material agreement²⁴
9. Mar 10, 20268-K Results of operations; Executive or director change²⁵
10. Mar 2, 20268-K Executive or director change; Regulation FD disclosure²⁶
11. Dec 3, 20258-K Regulation FD disclosure²⁷
12. Nov 12, 20258-K Results of operations²⁸
13. Jul 1, 2009Founded SHOULDER INNOVATIONS, INC. is founded²

Calendar

Coming up

1. Nov 5, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported ($0.48) a share, on Nov 11, 2025.²⁹

When it reported results

1. Aug 6, 2026Reported quarterly or annual results¹⁹
2. May 13, 2026Reported quarterly or annual results²²
3. Mar 10, 2026Reported quarterly or annual results²⁵
4. Nov 12, 2025Reported quarterly or annual results²⁸
5. Sep 9, 2025Reported quarterly or annual results³⁰

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

129 filings to the SEC since October 2021: 1 annual reports, 4 quarterly reports, 14 major events, 64 insider forms, 9 large holders, 3 private raises, 34 other. The latest 20:

1. Oct 8, 20268-K EDGAR
2. Oct 6, 20264 EDGAR
3. Oct 6, 20264 EDGAR
4. Oct 6, 20264 EDGAR
5. Oct 6, 20264 EDGAR
6. Sep 14, 20264 EDGAR
7. Sep 14, 2026144 EDGAR
8. Aug 28, 20264 EDGAR
9. Aug 24, 20264 EDGAR
10. Aug 18, 20264 EDGAR
11. Aug 17, 2026144 EDGAR
12. Aug 13, 2026EFFECT EDGAR
13. Aug 10, 20263 EDGAR
14. Aug 10, 20268-K EDGAR
15. Aug 7, 2026S-3 EDGAR
16. Aug 7, 2026SCHEDULE 13D/A EDGAR
17. Aug 7, 20264 EDGAR
18. Aug 6, 202610-Q EDGAR
19. Aug 6, 20268-K EDGAR
20. Aug 6, 2026SCHEDULE 13G/A EDGAR

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

32 open-market trades by officers, directors and large owners since October 2021: 17 buys and 15 sales. Grants, option exercises and gifts are left out.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

• Gilde Healthcare Holding B.V.SCHEDULE 13D/A, 2 filings Aug 5, 2025 to Aug 7, 2026³¹
• FMR LLCSCHEDULE 13G/A, 2 filings Sep 8, 2025 to Aug 6, 2026³²
• cultivate(MD) Holdings, LLCSCHEDULE 13G/A, 2 filings Nov 12, 2025 to May 7, 2026³³
• LSV Associates II, LLCSCHEDULE 13G, 1 filing Nov 14, 2025³⁴
• Presidio Management Group XII, L.L.C.SCHEDULE 13G, 1 filing Nov 14, 2025³⁵
• Arboretum Ventures VI, L.P.SCHEDULE 13G, 1 filing Aug 8, 2025³⁶

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

Money raised

Private offerings the company reported to the SEC on Form D.

1. Mar 6, 2025Raised $20.1 million in a private offering of equity Form D: $40.1 million offered in all Form D
2. Feb 10, 2023Raised $32.2 million in a private offering of equity Form D: $39.8 million offered in all Form D
3. Sep 29, 2022Raised $3.5 million in a private offering of debt Form D: $7 million offered in all Form D

SEC filer profile

How SHOULDER INNOVATIONS, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

• Name on EDGARSHOULDER INNOVATIONS, INC.¹
• CIK0001699350
• Employer ID (EIN)27-0538764⁴
• Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company⁴
• Incorporated inDelaware⁴
• Fiscal year endsDecember 31¹
• Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus¹
• SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance¹
• Business address1535 Steele Avenue Sw, Suite B, Grand Rapids, MI 49507¹
• Phone616-294-1026¹
• Shares outstanding20,818,957 as of Jul 30, 2026⁷
• Public float$0 as of Jun 30, 2025⁵
• AuditorDeloitte & Touche LLP, Grand Rapids, Michigan PCAOB ID 34; no auditor attestation of internal control over financial reporting⁴
• On EDGAR sinceMar 1, 2017¹
• Filings133 in all: 4 (50), 3 (14), 8-K (14), D (6), CORRESP (5), SCHEDULE 13G (5), 10-Q (4), 144 (4)¹
  All 29 form types

  UPLOAD (4), S-1/A (3), DRS/A (2), DRSLTR (2), EFFECT (2), S-8 (2), SCHEDULE 13G/A (2), 10-K (1), 424B4 (1), 8-A12B (1), ARS (1), CERT (1), D/A (1), DEF 14A (1), DEFA14A (1), DRS (1), FWP (1), S-1 (1), S-3 (1), SCHEDULE 13D (1), SCHEDULE 13D/A (1)

• Latest filingsAnnual report (10-K) Mar 10, 2026
  Quarterly report (10-Q) Aug 6, 2026
  Proxy statement (DEF 14A) Apr 29, 2026
  Latest 8-K (8-K) Oct 8, 2026

Securities registered for trading

From the cover page of the 10-K filed Mar 10, 2026 (Section 12(b) of the Exchange Act).⁴

Risk factors and legal proceedings

The risks SHOULDER INNOVATIONS, INC. names in Item 1A of its 10-K filed Mar 10, 2026: 73 risks under these headings, as written.⁴

• Risks Related to Our Financial Condition and Capital Requirements
• We are an early-stage company with a history of significant net losses, we expect to incur operating losses in the future and we may not be able to achieve or sustain profitability.
• If we fail to manage our growth effectively, our business could be materially and adversely affected.
• We have a significant amount of debt, which may affect our ability to operate our business and secure additional financing in the future.
• We may acquire other complementary companies, products or technologies, through the licensing of products or technologies from third parties or other strategic alliances, and the failure to manage acquisitions, investments, licenses or other strategic alliances, or the failure to integrate them with our existing business could fail to result in a
• commercial product or net sales, divert our management’s attention, result in additional dilution to our stockholders, cause us to incur significant expense and otherwise disrupt our business.
• We may require substantial additional funding, which may not be available to us on acceptable terms, or at all, and, if not available, may require us to delay, scale back, or cease our innovation efforts or operations.
• Risks Related to Our Business and Industry
• We operate in a very competitive business environment, and if we are unable to compete successfully against our existing or potential competitors, our business, financial condition and results of operations may be adversely affected.
• If we fail to develop and retain an effective commercial organization, or if we are unable to successfully expand our organization, it could negatively impact our sales, and we may not generate sufficient net revenue to sustain profitability.
• We rely in part on independent distributors to sell our products to our customers, and if we are unable to maintain and expand our network of independent distributors, we may be unable to generate anticipated sales.
• Our business plan relies on certain assumptions about the market for our implant systems, however, the size and expected growth of our addressable market has not been established with precision and may be smaller than we estimate, and even if the addressable market is as large as we have estimated, we may not be able to capture additional market share.

Legal proceedings

From time to time, we may be party to legal proceedings that arise in the ordinary course of our business, some of which may be covered by insurance. Except for the description of legal proceedings disclosed in Note 13 to our audited financial statements, which is incorporated herein by reference, management believes that we do not have any pending legal proceedings that, separately or in the aggregate, would have a material adverse effect on our results of operations, financial condition or cash flows. No material legal proceedings were terminated, settled or otherwise resolved during the year ended December 31, 2025.

The opening of Item 3, Legal Proceedings.⁴