Gael Forterre - Jun 23, 2022 Form 4 Insider Report for VOLITIONRX LTD (VNRX)

Role: Chief Commerical Officer
Signature: /s/ Gael Forterre
Stock symbol: VNRX
Transactions as of: Jun 23, 2022
Transactions value $: $0
Form type: 4
Date filed: 6/24/2022, 04:02 PM
Previous filing: Apr 8, 2022
Next filing: Aug 5, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VNRX	Common Stock	Award	$0	+13.3K	+23.91%	$0.00	69K	Jun 23, 2022	Direct	F1
holding	VNRX	Common Stock						5K	Jun 23, 2022	By Spouse
holding	VNRX	Common Stock						32.5K	Jun 23, 2022	By Armori Capital Management, LLC	F2

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	VNRX	Stock Option (Right to Buy)	Award	$0	+24.5K	+185.73%	$0.00	37.7K	Jun 23, 2022	Common Stock	24.5K	$3.40	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On August 3, 2021, the reporting person was awarded 20,473 restricted stock units, subject to vesting upon achievement of certain corporate performance goals on or prior to July 1, 2022 and also subject to time-based vesting. Certain of the performance goals were met, resulting in the rights with respect to 13,308 restricted stock units vesting. The restricted stock units are further subject to a 2-year time-based vesting schedule, vesting in two installments of 6,655 units and 6,653 units on each of August 3, 2022 and August 3, 2023, respectively. Upon vesting and settlement, the reporting person will receive a number of shares of common stock equal to the number of restricted stock units that have vested. As reported in April 2022, the rights with respect to the remaining 7,165 restricted stock units subject to the award previously vested and remain subject to time-based vesting.
F2	These shares of common stock are managed by Armori Capital Management, LLC ("Armori Capital"). Mr. Forterre is the managing director and sole shareholder of Armori Capital and has voting and dispositive control over the shares held by Armori Capital. Mr. Forterre disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.
F3	On August 3, 2021, the reporting person was granted an option to purchase 37,728 shares of common stock, subject to vesting upon achievement of certain corporate performance goals on or prior to July 1, 2022 and also subject to time-based vesting. Certain of the performance goals were met, resulting in the rights with respect to 24,524 shares vesting. The vested shares are further subject to a 2-year time based vesting schedule, vesting in two equal installments of 12,262 shares on each of August 3, 2022 and August 3, 2023, respectively. As reported in April 2022, the rights with respect to the remaining 13,204 shares subject to the award previously vested and remain subject to time-based vesting.