# EDGAR Filing Document

**Accession Number:** 0001699350
**File Stem:** 0001699350-26-000014
**Filing Date:** 2026-3
**Character Count:** 21870
**Document Hash:** d4374e6905fa85796c50e4944753e3b0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001699350-26-000014.hdr.sgml**: 20260310

**ACCESSION NUMBER**: 0001699350-26-000014

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 16

**REFERENCES 429**: 333-289184

**FILED AS OF DATE**: 20260310

**DATE AS OF CHANGE**: 20260310

**EFFECTIVENESS DATE**: 20260310

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SHOULDER INNOVATIONS, INC.
- **CENTRAL INDEX KEY:** 0001699350
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 270538764
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-294190
- **FILM NUMBER:** 26740070

**BUSINESS ADDRESS:**
- **STREET 1:** 1535 STEELE AVENUE SW, SUITE B
- **CITY:** GRAND RAPIDS
- **STATE:** MI
- **ZIP:** 49507
- **BUSINESS PHONE:** 616-566-0286

**MAIL ADDRESS:**
- **STREET 1:** 1535 STEELE AVENUE SW, SUITE B
- **CITY:** GRAND RAPIDS
- **STATE:** MI
- **ZIP:** 49507

**As filed with the Securities and Exchange Commission on March 10, 2026** 

**Registration No. 333-** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

***REGISTRATION STATEMENT***

***UNDER***

***THE SECURITIES ACT OF 1933***

**SHOULDER INNOVATIONS, INC.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware**<br>(State or Other Jurisdiction of<br>Incorporation or Organization) | **27-0538764**<br>(I.R.S. Employer<br>Identification No.) |
| **1535 Steele Avenue SW, Suite B**<br>**Grand Rapids, Michigan 49507**<br>(Address of Principal Executive Offices) | **49507**<br>(Zip Code) |

---

**Shoulder Innovations, Inc. 2025 Incentive Award Plan**

**Shoulder Innovations, Inc. 2025 Employee Stock Purchase Plan**

(Full Title of the Plans)

**Robert Ball**

**Chief Executive Officer and Executive Chairman**

**Shoulder Innovations, Inc.**

**1535 Steele Avenue SW, Suite B**

**Grand Rapids, Michigan 49507**

(Name and address of agent for service)

**(616) 294-1026**

(Telephone Number, Including Area Code, of Agent for Service)

***Copy to:*** 

**Joshua W. Damm, Esq.**

**Honigman LLP**

**2290 First National Building**

**660 Woodward Avenue**

**Detroit, Michigan 48226**

**(313) 465-7000**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

------

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| | | Emerging growth company | ☒ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

------

**REGISTRATION OF ADDITIONAL SHARES PURSUANT TO GENERAL INSTRUCTION E**

This Registration Statement on Form S-8 (the "***Registration Statement***") is being filed by Shoulder Innovations, Inc. (the "***Registrant***," or "***our***") for the purpose of registering an additional (a) 1,030,256 shares of common stock, par value $0.001 per share (the "***Common Stock***"), issuable pursuant to the Shoulder Innovations, Inc. 2025 Incentive Award Plan, and (b) 206,051 shares of Common Stock issuable pursuant to the Shoulder Innovations, Inc. 2025 Employee Stock Purchase Plan, in each case, pursuant to the provisions in those plans providing for an automatic annual increase in the number of shares reserved for issuance under such plans on January 1, 2026. This Registration Statement hereby incorporates by reference the contents of the Registrant's previous registration statement on Form S-8 filed with the Securities and Exchange Commission (the "***Commission***") on <u>[August 1, 2025](https://www.sec.gov/Archives/edgar/data/1699350/000162828025037231/shoulder-sx8august2025.htm)</u> (Registration No. 333-289184) to the extent not superseded hereby.

**PART I** 

**INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS** 

The information called for by Part I of Form S-8 is omitted from this Registration Statement in accordance with Rule 428 of the Securities Act of 1933, as amended (the ***"Securities Act"***), and the instructions to Form S-8. In accordance with the rules and regulations of the Commission and the instructions to Form S-8, such documents are not being filed with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. The documents containing the information specified in Part I of Form S-8 will be delivered to the participants in the equity benefit plans covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act.

**PART II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 3. Incorporation of Documents by Reference**.

The following documents filed by the Registrant with the Commission pursuant to the Securities Act and the Securities Exchange Act of 1934, as amended (the "***Exchange Act***"), are incorporated herein by reference:

(a)the Registrant's Annual Report on <u>[Form 10-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/1699350/000169935026000011/si-20251231.htm)</u> for the fiscal year ended December 31, 2025, filed with the Commission on March 10, 2026 (the "***Annual Report***");

(b)all other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the Registrant's Annual Report referred to in (a) above; and

(c)the description of the Registrant's common stock set forth in the Registrant's registration statement on <u>[Form 8-A12B](https://www.sec.gov/Archives/edgar/data/1699350/000162828025036610/shoulder-8xa12bjuly2025.htm)</u> (File No. 001-42771), filed by the Registrant with the Commission under Section 12(b) of the Exchange Act on July 30, 2025, including any amendments or reports filed for the purpose of updating such description.

All documents subsequently filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14, or 15(d) of the Exchange Act, prior to the filing of a post-effective amendment to the Registration Statement which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of the filing of such documents, except that information furnished to the Commission under Item 2.02 or Item 7.01 in Current Reports on Form 8-K and any exhibit relating to such information, shall not be deemed to be incorporated by reference in this Registration Statement.

Any statement contained herein or in a document incorporated or deemed to be incorporated by reference in this Registration Statement shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained in this Registration Statement, or in any other subsequently filed document which also is or is deemed to be incorporated by reference in this Registration Statement, modifies or supersedes such earlier statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

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**Item 8. Exhibits.** 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Exhibit** |  | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** |
| **Number** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Description** | **Form** | **File No.** | **Exhibit** | **Filing Date** |
| 3.1 | <u>[Amended and Restated Certificate of Incorporation of Shoulder Innovations, Inc.](https://www.sec.gov/Archives/edgar/data/1699350/000162828025037418/exhibit31-8xk.htm)</u> | 8-K | 001-42771 | 3.1 | 8/4/2025 |
| 3.2 | <u>[Amended and Restated Bylaws of Shoulder Innovations, Inc.](https://www.sec.gov/Archives/edgar/data/1699350/000162828025037418/exhibit32-8xk.htm)</u> | 8-K | 001-42771 | 3.2 | 8/4/2025 |
| 4.1 | <u>[Specimen stock certificate evidencing the shares of common stock](https://www.sec.gov/Archives/edgar/data/1699350/000162828025035833/exhibit41-sx1a2.htm)</u> | S-1/A | 333-288549 | 4.1 | 7/25/2025 |
| 5.1\* | <u>[Opinion of Honigman LLP](ex-51xlegalopinion.htm)</u> |  |  |  |  |
| 23.1\* | <u>[Consent of Deloitte & Touche LLP, independent registered public accounting firm](ex-231consentsx8.htm)</u> |  |  |  |  |
| 23.2\* | <u>[Consent of Honigman LLP (included in Exhibit 5.1)](ex-51xlegalopinion.htm)</u> |  |  |  |  |
| 24.1\* | <u>[Power of Attorney of certain directors and officers of the Registrant (contained on signature page)](#ie7187a0a2cef41cfbc8cf8c0bf890233_7)</u> |  |  |  |  |
| 99.1 | <u>[Shoulder Innovations, Inc. 2025 Incentive Award Plan](https://www.sec.gov/Archives/edgar/data/1699350/000162828025037231/exhibit993-sx8.htm)</u> | S-8 | 333-289184 | 99.3 | 8/1/2025 |
| 99.2 | <u>[Form of Option Agreement under 2025 Incentive Award Plan](https://www.sec.gov/Archives/edgar/data/1699350/000162828025034437/exhibit1011b-sx1.htm)</u> | S-8 | 333-289184 | 99.4 | 8/1/2025 |
| 99.3 | <u>[Form of Restricted Stock Unit Award Agreement under 2025 Incentive Award Plan](https://www.sec.gov/Archives/edgar/data/1699350/000162828025034437/exhibit1011c-sx1.htm)</u> | S-8 | 333-289184 | 99.5 | 8/1/2025 |
| 99.4 | <u>[Shoulder Innovations, Inc. 2025 Employee Stock Purchase Plan](https://www.sec.gov/Archives/edgar/data/1699350/000162828025037231/exhibit996-sx8.htm)</u> | S-8 | 333-289184 | 99.6 | 8/1/2025 |
| 107\* | <u>[Filing Fee Table](exfilingfees.htm)</u> |  |  |  |  |

---

_____________________

\* Filed herewith.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Grand Rapids, Michigan, on March 10, 2026.

---

| | | | |
|:---|:---|:---|:---|
| | | **SHOULDER INNOVATIONS, INC.** | **SHOULDER INNOVATIONS, INC.** |
| Date: | March 10, 2026 | By: | /s/ Robert Ball |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Robert Ball |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer and Executive Chairman |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;*(Principal Executive Officer)* |

---

**SIGNATURES AND POWER OF ATTORNEY**

We, the undersigned officers and directors of Shoulder Innovations, Inc., hereby severally constitute and appoint Robert Ball and Jeffrey Points, and each of them singly (with full power to each of them to act alone), our true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution in each of them for him and in his name, place and stead, and in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement (or any other registration statement for the same offering that is to be effective upon filing pursuant to Rule 462(b) under the Securities Act of 1933), and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as full to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities held on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Robert Ball | Chief Executive Officer and Executive Chairman<br>*(Principal Executive Officer)* | March 10, 2026 |
| Robert Ball | Chief Executive Officer and Executive Chairman<br>*(Principal Executive Officer)* | March 10, 2026 |
| /s/ Jeffrey Points | Chief Financial Officer<br>*(Principal Financial and Accounting Officer)* | March 10, 2026 |
| Jeffrey Points | Chief Financial Officer<br>*(Principal Financial and Accounting Officer)* | March 10, 2026 |
| /s/ Matthew Ahearn | Director | March 10, 2026 |
| Matthew Ahearn | Director | March 10, 2026 |
| /s/ Richard Buchholz | Director | March 10, 2026 |
| Richard Buchholz | Director | March 10, 2026 |
| /s/ Paul Buckman | Director | March 10, 2026 |
| Paul Buckman | Director | March 10, 2026 |
| /s/ Michael Carusi | Director | March 10, 2026 |
| Michael Carusi | Director | March 10, 2026 |
| /s/ Andrew Hykes | Director | March 10, 2026 |
| Andrew Hykes | Director | March 10, 2026 |
| /s/ Kevin Sidow | Director | March 10, 2026 |
| Kevin Sidow | Director | March 10, 2026 |
| /s/ Casey Tansey | Director | March 10, 2026 |
| Casey Tansey | Director | March 10, 2026 |

---

## Ex-Filing

?xml version='1.0' encoding='ASCII'? exfilingfees

**Exhibit 107**

---

| |
|:---|
| **Calculation of Filing Fee Tables** |
| **S-8** |
| **SHOULDER INNOVATIONS, INC.** |

---

**Table 1: Newly Registered Securities**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Security Type** | **Security Class Title** | **Fee Calculation Rule** | **Amount Registered** | **Proposed Maximum Offering Price Per Unit** | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| 1 | Equity | Common Stock, par value $0.001 per share | Other | 1030256 | $13.31 | $13712707.36 | 0.00013810 | $1893.73 |
| 2 | Equity | Common Stock, par value $0.001 per share | Other | 206051 | $11.3135 | $2331157.99 | 0.00013810 | $321.94 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $16043865.35 |  | $2215.67 |
| Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: |  |  |  | $0.00 |
| Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: |  |  |  | $2215.67 |

---

**Offering Note**

1(a). Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement also covers such additional and indeterminate number of securities as may become issuable pursuant to the provisions of the Shoulder Innovations, Inc. 2025 Incentive Award Plan (the "2025 Plan") and the Shoulder Innovations, Inc. 2025 Employee Stock Purchase Plan (the "ESPP") by reason of any stock dividend, stock split, recapitalization or any other similar transaction effected without the Registrant's receipt of consideration which results in an increase in the number of outstanding shares of common stock, par value $0.001 per share (the "Common Stock"), of Shoulder Innovations, Inc., a Delaware corporation (the "Registrant").

------

1(b). Represents additional shares of Common Stock to be registered and available for grant under the 2025 Plan resulting from the annual 5% automatic increase in the number of authorized shares available for issuance under the 2025 Plan.

1(c). Estimated pursuant to Rules 457(c) and 457(h) under the Securities Act, solely for the purposes of calculating the registration fee and based on the average of the high and low prices of the Registrant's Common Stock as reported on the New York Stock Exchange on March 3, 2026, which date is within five business days prior to the filing of this Registration Statement.

See Footnote 1(a).

2(a). Represents additional shares of Common Stock to be registered and available for grant under the ESPP resulting from the annual 1% automatic increase in the number of authorized shares available for issuance under the ESPP.

2(b) Estimated pursuant to Rules 457(c) and 457(h) under the Securities Act, solely for the purposes of calculating the registration fee and based on the average of the high and low prices of the Registrant's Common Stock as reported on the New York Stock Exchange on March 3, 2026, which date is within five business days prior to the filing of this Registration Statement, multiplied by 85%, which is the percentage of the price per share applicable to purchases under the ESPP.

## Exhibit 5.1

**Exhibit 5.1**

![image_1.jpg](image_1.jpg)

March 10, 2026

Shoulder Innovations, Inc. 1535 Steele Avenue SW, Suite BGrand Rapids, Michigan 49507

***&nbsp;&nbsp;&nbsp;&nbsp;Re: Registration Statement on Form S-8***

Ladies and Gentlemen:

We have acted as counsel to Shoulder Innovations, Inc., a Delaware corporation (the ***"Company"***), in connection with the preparation and filing with the Securities and Exchange Commission (the ***"Commission"***) of a Registration Statement on Form S-8 (the ***"Registration Statement"***) for the registration under the Securities Act of 1933, as amended (the ***"Securities Act"***), of a maximum of 1,236,307 shares (the ***"Shares"***) of the Company's common stock, par value $0.001 per share (the ***"Common Stock"***), to be issued by the Company pursuant to awards under the (a) Shoulder Innovations, Inc. 2025 Incentive Award Plan (the ***"2025 Incentive Plan"***), and (b) the Shoulder Innovations, Inc. 2025 Employee Stock Purchase Plan (the ***"ESPP***,***"*** and together with the 2025 Incentive Plan, the ***"Plans"***).

We do not express any opinion herein concerning any law other than the Delaware General Corporation Law (the ***"DGCL"***). We are not admitted to practice in the State of Delaware and, with respect to the opinion set forth herein, insofar as it relates to any Delaware law, we have limited our review to standard compilations available to us of the DGCL, which we have assumed to be accurate and complete, and we have not reviewed case law.

In rendering the opinion set forth herein, we have assumed the genuineness of all signatures on all documents examined by us, the due authority of the parties signing such documents, the authenticity of all documents submitted to us as originals, the conformity to authentic originals of all documents submitted to us as copies and that the offer and sale of the Shares complies in all respects with the terms, conditions and restrictions set forth in the Registration Statement and the 2025 Incentive Plan or the ESPP, as applicable. The Company has represented to us, and we have also assumed, that the Company has reserved from its duly authorized capital stock a sufficient number of shares of Common Stock, including the Shares, for issuance under the Plans and will keep such reserve available at all times to enable the Company to issue and deliver the Shares upon the settlement of awards under the Plans.

Based upon, subject to and limited by the foregoing, and based upon our examination of such documents and other matters as we deem relevant, we are of the opinion that the Shares to be issued by the Company under the Plans pursuant to the Registration Statement are duly authorized and, when issued and sold by the Company in accordance with the 2025 Incentive Plan or the ESPP, as applicable, and the awards thereunder, the Registration Statement and the related prospectus, will be validly issued, fully paid and non-assessable.

**Honigman LLP • 2290 First National Building • 660 Woodward Avenue • Detroit, Michigan 48226-3506**

&nbsp;&nbsp;&nbsp;&nbsp;

------

![image_0.jpg](image_0.jpg)

March 10, 2026

This opinion letter speaks only as of its date. We do not undertake any obligation to advise you or any other party of changes of law or fact that occur after the date of this opinion letter – even though the change may affect the legal analysis or legal conclusion in this opinion letter.

We hereby consent to the filing of this opinion with the Commission as Exhibit 5.1 to the Registration Statement. In giving such consent, we do not admit that we are within the category of persons whose consent is required by Section 7 of the Securities Act or the rules and regulations promulgated thereunder by the Commission.

Very truly yours,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*/s/ Honigman LLP*

HONIGMAN LLP

&nbsp;&nbsp;&nbsp;&nbsp;

**Honigman LLP • 2290 First National Building • 660 Woodward Avenue • Detroit, Michigan 48226-3506**

&nbsp;&nbsp;&nbsp;&nbsp;

## Exhibit 23.1

**Exhibit 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated March 10, 2026, relating to the financial statements of Shoulder Innovations, Inc., appearing in the Annual Report on Form 10-K of Shoulder Innovations, Inc. for the year ended December 31, 2025.

/s/ Deloitte & Touche LLP

Grand Rapids, Michigan

March 10, 2026

<br>