Efthymios Deliargyris - Aug 10, 2022 Form 4 Insider Report for Cytosorbents Corp (CTSO)

Role
Chief Medical Officer
Signature
/s/ Kathleen P. Bloch attorney-in-fact for Efthymios Deliargyris
Stock symbol
CTSO
Transactions as of
Aug 10, 2022
Transactions value $
$0
Form type
4
Date filed
8/12/2022, 06:49 PM
Next filing
Jul 11, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CTSO Common Stock Award $0 +55K +31.72% $0.00 228K Aug 10, 2022 Direct F7
transaction CTSO Common Stock Award $0 +52K +22.47% $0.00 283K 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 +74K $0.00 74K Aug 10, 2022 Common Stock 74K $1.95 Direct F5
transaction CTSO Stock Option (right to buy) Award $0 +300K $0.00 300K Aug 10, 2022 Common Stock 300K $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) (i) 120,000 RSUs granted on April 9, 2020 and (ii) 55,000 RSUs granted on August 10, 2022 and reported on this Form 4, in each case that will be settled into Common Stock upon vesting upon a "Change In Control" of CytoSorbents Corporation (the "Company") as defined in the Amended and Restated CytoSorbents Corporation 2014 Long-Term Incentive Plan (the "Plan";
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 Common Stock upon vesting: (a) 13,334 RSUs granted on April 12, 2021 and unvested on the date hereof; (b) 20,000 RSUs granted on April 9, 2020 and unvested on the date hereof and (c) 52,000 RSUs granted on August 10, 2022 reported on this Form 4 and unvested on the date hereof; and
F4 (continued from footnote 3) (c) 23,050 shares of 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) 100,000 options will vest if the Company obtains one U.S. Food and Drug Administration approval for its product DrugSorb, (ii) 50,000 options will vest if the Company obtains a second U.S. Food and Drug Administration approval for its product DrugSorb, (iii) 60,000 options will vest if the Company achieves $80 million or more in annual ex-U.S. sales, (iv) 60,000 options will vest if the Company achieves $20 million or more in annual U.S. sales, and (v) 30,000 options will vest if the Company achieves U.S. GAAP breakeven.
F7 These shares represent RSUs that will vest upon a "Change in Control" of the Company as defined in the Plan.