Kenneth E. Miller - 15 Nov 2023 Form 4 Insider Report for KORU Medical Systems, Inc. (KRMD)

Role
Chief Commercial Officer
Signature
/s/ Thomas Adams, Attorney-In-Fact
Issuer symbol
KRMD
Transactions as of
15 Nov 2023
Net transactions value
$0
Form type
4
Filing time
17 Nov 2023, 16:04:04 UTC
Previous filing
09 Nov 2023
Next filing
30 Sep 2024
SEC
View on sec.gov

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 KRMD Option to buy Common Stock Award $0 +200,000 $0.000000 200,000 15 Nov 2023 Common Stock 200,000 $2.18 Direct F1
transaction KRMD Option to buy Common Stock Award $0 +200,000 +100% $0.000000 400,000 15 Nov 2023 Common Stock 200,000 $2.18 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Nonqualified stock options granted as an inducement to employment. Options vest in increments of 50,000 on the first anniversary of the date of grant and each anniversary thereafter until fully vested.
F2 Nonqualified stock options awards vest based on a schedule of the Company's net sales growth targets for each of the fiscal years ended 12/31/2024 through 12/31/2026.

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 has been previously filed.