John Glenn - Dec 7, 2022 Form 4 Insider Report for IRADIMED CORP (IRMD)

Role
Chief Financial Officer
Signature
/s/ John Glenn
Stock symbol
IRMD
Transactions as of
Dec 7, 2022
Transactions value $
$0
Form type
4
Date filed
12/9/2022, 09:43 AM
Previous filing
Jun 22, 2022
Next filing
Dec 16, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction IRMD Restricted Stock Units Award $0 +10.5K +45.31% $0.00 33.7K Dec 7, 2022 Common Stock 10.5K Direct F1, F2
transaction IRMD Performance-based Restricted Stock Units Award $0 +10.5K $0.00 10.5K Dec 7, 2022 Common Stock 10.5K Direct F1, F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of Iradimed Corporation's common stock.
F2 The reporting person received restricted stock units under Iradimed Corporation's 2014 Equity Incentive Plan. The restricted stock units vest in full on the third anniversary of the grant date, December 7, 2025. Upon vesting, the reporting person will receive a number of shares of common stock equal to the number of restricted stock units that have vested.
F3 The reporting person received performance-based restricted stock units ("PRSUs") under Iradimed Corporation's 2014 Equity Incentive Plan. Vesting of these PRSUs depends on the reporting person's achievement of a specified relative ranking of total stockholder return over a three-year period from December 8, 2022 through December 7, 2025.
F4 If the relative measure at December 7, 2025 and for the three-year period then ended is: (i) less than or equal to 80% of the peer group, no vesting would occur, (ii) between 80% and 100% of the peer group, the number of shares vesting would be pro-rata against the nominal granted shares, (iii) equal to 100% of the peer group, the number of shares vesting would be the nominal granted shares, (iv) between 100% and 120% of the peer group, the number of shares vesting would be pro-rata against an additional tranche of the nominal granted shares plus the nominal granted shares, and (v) if 120% or greater of the peer group, the number of shares vesting would be double the nominal granted shares.
F5 Upon vesting, the reporting person will receive a number of shares of common stock equal to the number of PRSUs that have vested.