SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Colleran David (Last) (First) (Middle) 32 WIGGINS AVENUE (Street) BEDFORD MA 01730 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Anika Therapeutics, Inc. [ ANIK ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) EVP, General Counsel, Corp Sec
	3. Date of Earliest Transaction (Month/Day/Year) 03/14/2025
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/17/2025		M		6,448(1)	A	$0	49,847	D
Common Stock	03/17/2025		F		1,893(2)	D	$15.91(3)	47,954	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit	$0.00	03/14/2025		A		28,165		(4)	(4)	Common Stock	28,165	$0	28,165	D
Restricted Stock Unit	$0.00	03/14/2025		A		13,669		(5)	(5)	Common Stock	13,669	$0	13,669	D
Restricted Stock Unit	$0.00	03/17/2025		M			6,448	(6)	(6)	Common Stock	6,448	$0	12,897	D

Explanation of Responses:

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

2. Reflects an aggregate of 1,893 shares of common stock retained by the Issuer to satisfy tax withholding obligations with respect to RSUs that vested on March 15, 2025.

3. 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.

4. 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.

5. 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 13,669 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.

6. 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.

	/s/ David Colleran	03/18/2025
	** Signature of Reporting Person	Date
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