Phillip P. Chan - Aug 10, 2022 Form 4 Insider Report for Cytosorbents Corp (CTSO)

Role
Chief Executive Officer, Director
Signature
/s/ Kathleen P. Bloch attorney-in-fact for Phillip P. Chan
Stock symbol
CTSO
Transactions as of
Aug 10, 2022
Transactions value $
$0
Form type
4
Date filed
8/12/2022, 06:46 PM
Previous filing
Jun 21, 2022
Next filing
Sep 12, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CTSO Common Stock Award $0 +79K +10.31% $0.00 845K Aug 10, 2022 Direct F1, F2, F3, F4

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 CTSO Stock Option (right to buy) Award $0 +106K $0.00 106K Aug 10, 2022 Common Stock 106K $1.95 Direct F5
transaction CTSO Stock Option (right to buy) Award $0 +240K $0.00 240K Aug 10, 2022 Common Stock 240K $1.95 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares represent restricted stock units ("RSUs") which shall vest as to one-third of the award on each of the date of grant, the first anniversary of the date of grant, and the second anniversary of the date of grant, subject to the reporting person's continued service as of the applicable vesting date, and will be settled into common stock, par value $0.001 per share (the "Common Stock") upon vesting.
F2 Includes (a) the following RSUs that will be settled into shares of Common Stock upon vesting upon a "Change In Control" of the Issuer as defined in the Amended and Restated CytoSorbents Corporation 2014 Long-Term Incentive Plan (the "Plan"): (a) 10,300 RSUs granted on March 15, 2018, (b) 18,700 RSUs granted on February 24, 2017, (c) 57,000 RSUs granted on June 7, 2016 and (d) 130,000 RSUs granted on April 8, 2015;
F3 (continued from footnote 2) (b) the following RSUs (which vest as to one-third of the award on each of the date of grant, the first anniversary of the date of grant, and the second anniversary of the date of grant, subject to the reporting person's continued service as of the applicable vesting date) and will settle into shares of Common Stock upon vesting: (a) 24,000 RSUs granted on April 12, 2021 and unvested on the date hereof and (b) 79,000 RSUs granted on August 10, 2022 reported on this Form 4 and unvested as of the date hereof; and
F4 (continued from footnote 3) (c) 526,130 shares of the Common Stock owned by the reporting person.
F5 These stock options were granted pursuant to the Plan. The shares underlying these stock options vest as to one-quarter of the award on each of the date of grant, the first anniversary of the date of grant, the second anniversary of the date of grant and the third anniversary of the date of grant, subject to the reporting person's continued service as of the applicable vesting date.
F6 These stock options were granted pursuant to the Plan. The shares underlying these stock options will vest only upon the achievement of certain milestones before December 31, 2025. Specifically, (i) 60,000 options will vest if the Company obtains U.S. Food and Drug Administration approval for its product DrugSorb, (ii) 60,000 options will vest if the Company achieves $80 million or more in annual ex-U.S. sales, (iii) 60,000 options will vest if the Company achieves $20 million or more in annual U.S. sales, and (iv) 60,000 options will vest if the Company achieves U.S. GAAP breakeven.