Dwight H. Egan - May 23, 2022 Form 4 Insider Report for Co-Diagnostics, Inc. (CODX)

Signature
/s/ Dwight H. Egan
Stock symbol
CODX
Transactions as of
May 23, 2022
Transactions value $
-$59,151
Form type
4
Date filed
5/25/2022, 01:32 PM
Previous filing
Nov 24, 2021
Next filing
Jun 7, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CODX Common Stock Award $0 +33.3K +135.17% $0.00 58K May 23, 2022 Direct F1
transaction CODX Common Stock Disposed to Issuer -$59.2K -11.9K -20.44% $4.99 46.1K May 23, 2022 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 -33.3K -21.62% $0.00 121K May 23, 2022 Common Stock 154K $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 75,000 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. Included in 125,000 restricted stock units awarded to the Reporting Person on August 12, 2021, pursuant to the Co-Diagnostics, Inc. 2015 Long Term Incentive Plan, and vest in 6 equal installments every 6 months commencing on November 23, 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.