Innovator U.S. Equity Buffer ETF - December

Innovator U.S. Equity Buffer ETF - December is an actively managed exchange-traded fund designed to provide exposure to the SPDR S&P 500 ETF Trust while using options-based strategies to shape outcomes over a one-year period. The fund seeks to participate in S&P 500-linked gains up to a preset cap while buffering the first 9% of losses during each outcome period. It resets annually and can be held indefinitely, making it a defined outcome product built around repeatable time-based exposure. Innovator U.S. Equity Buffer ETF - December primarily serves investors looking for large-cap U.S. equity exposure with a structured risk-and-return profile, rather than direct, uncapped index participation. Its portfolio framework is centered on FLEX options and collateral, reflecting its role as a rules-based ETF within the broader U.S. equity and defined outcome market.