Linda M. Tharby - Mar 10, 2023 Form 4 Insider Report for KORU Medical Systems, Inc. (KRMD)

Role
President and CEO, Director
Signature
/s/ Stephen Unger - Attorney-in-Fact
Stock symbol
KRMD
Transactions as of
Mar 10, 2023
Transactions value $
$78,281
Form type
4
Date filed
3/14/2023, 04:36 PM
Previous filing
May 16, 2022
Next filing
Aug 24, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KRMD Common Stock Award $120K +32.4K +3.14% $3.71 1.06M Mar 10, 2023 Direct F1, F2
transaction KRMD Common Stock Tax liability -$41.8K -11.3K -1.06% $3.71 1.05M Mar 10, 2023 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 32,378 shares issued per her employment agreement for bonus earned of which 70% was paid in cash and 30% paid in shares of the company stock.
F2 Includes 150,000 in restricted stock awards that vest in 25% increments annually on 4/12/23, 4/12/24 and 4/12/25; Includes 400,000 in restricted stock awards that vest based on a schedule of the Company's market capitalization prior to 3/15/27; Includes 600,000 in restricted stock awards that vest based on a schedule of the Company's net sales growth targets for each of the fiscal years ended 12/31/22 through 12/31/25.
F3 Represents shares of common stock withheld by the issuer in satisfaction of tax withholding obligations upon the issuance of common stock for the portion of the 2022 bonus paid out in equity.

Remarks:

The filing of this statement shall not be construed as an admission (a) that the person filing this statement is, for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the beneficial owner of any equity securities covered by this statement, or (b) that this statement is legally required to be filed by such person. Power of Attorney filed herewith as Exhibit 24.