Thomas Adams - Aug 15, 2024 Form 4 Insider Report for KORU Medical Systems, Inc. (KRMD)

Role
Chief Financial Officer
Signature
/s/ Thomas Adams
Stock symbol
KRMD
Transactions as of
Aug 15, 2024
Transactions value $
$0
Form type
4
Date filed
9/30/2024, 11:31 AM
Previous filing
Aug 3, 2023

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 Restricted Stock Units Award $0 +21.6K $0.00 21.6K Aug 15, 2024 Common Stock 21.6K Direct F1, F2
transaction KRMD Restricted Stock Units Award $0 +21.6K $0.00 21.6K Aug 15, 2024 Common Stock 21.6K Direct F1, F3
transaction KRMD Option to buy Common Stock Award $0 +47.7K $0.00 47.7K Aug 15, 2024 Common Stock 47.7K $2.35 Direct F4
* 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 KORU Medical Systems, Inc. (the "Company") upon vesting.
F2 One-fourth will vest on March 15, 2025 and on each first, second and third anniversary thereof or upon an earlier change in control of the Company.
F3 These restricted stock units will vest based upon the achievement of certain performance conditions as of December 31, 2026. The amount reported represents the amount of shares payable at target performance; the Reporting Person could earn 0%-150% of the amount reported depending on the level of performance achieved. These restricted stock units will vest at 100% of the amount reported upon a change in control of the Company prior to December 31, 2026.
F4 One-fourth will vest on March 15, 2025 and on each first, second and third anniversary thereof.

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.