Reed L. Benson - May 24, 2021 Form 4 Insider Report for Co-Diagnostics, Inc. (CODX)

Role: General Counsel
Signature: /s/ Reed L. Benson
Stock symbol: CODX
Transactions as of: May 24, 2021
Transactions value $: -$11,170
Form type: 4
Date filed: 5/26/2021, 12:01 PM
Previous filing: May 21, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CODX	Common Stock	Award	$0	+4.58K		$0.00	4.58K	May 24, 2021	Direct	F1
transaction	CODX	Common Stock	Tax liability	-$11.2K	-1.41K	-30.85%	$7.90^*	3.17K	May 24, 2021	Direct	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	CODX	Restricted Stock Units	Options Exercise	$0	-4.58K	-16.67%	$0.00	22.9K	May 24, 2021	Common Stock	27.5K	$0.00	Direct	F1

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

Explanation of Responses:

Id	Content
F1	Included in 27,500 restricted stock units awarded to the Reporting Person on November 23, 2020, pursuant to the Co-Diagnostics, Inc. 2015 Long Term Incentive Plan, and vest in 6 equal installments every 6 months commencing on May 24, 2021.
F2	Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.

Content

Included in 27,500 restricted stock units awarded to the Reporting Person on November 23, 2020, pursuant to the Co-Diagnostics, Inc. 2015 Long Term Incentive Plan, and vest in 6 equal installments every 6 months commencing on May 24, 2021.

Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.