Blanchard Cheryl R 4

What Happened

• Cheryl R. Blanchard, a director of Anika Therapeutics (ANIK), had 20,001 restricted stock units (RSUs) vest on March 9, 2026 and converted those RSUs into 20,001 shares of common stock. To satisfy tax withholding, 5,871 shares were surrendered to the company at $14.96 per share (total value withheld $87,830). Net shares received by Blanchard were 14,130 (20,001 vested minus 5,871 withheld). The filing shows the RSUs (a derivative instrument) were canceled upon conversion.

Key Details

• Transaction date: March 9, 2026; Form 4 filed March 11, 2026 (filed two days after the transaction).
• Vesting/conversion: 20,001 RSUs converted to 20,001 common shares (derivative conversion).
• Tax withholding: 5,871 shares withheld at $14.96/share = $87,830.
• Net shares delivered to insider: 14,130 shares.
• Shares owned after transaction: Not specified in the filing excerpt.
• Relevant footnotes: F1 = each RSU converts to one common share; F2 = 5,871 shares withheld to satisfy tax obligations; F4 = these 20,001 shares are the third and final installment of a 60,004-RSU award granted Mar 9, 2023; F3 = some shares are held in a trust of which Blanchard is trustee/beneficiary.
• Filing timeliness: Report appears timely (filed within two business days).

Context

• This was an RSU vesting and conversion event (an award becoming stock), not an open-market purchase or sale. The surrender of shares to cover taxes is a routine, administrative step (a cashless withholding) and does not necessarily signal a buy or sell decision. The RSU award was part of a multi-year grant granted in 2023 and this transaction reflects the scheduled final vesting installment.