Dwight H. Egan - May 23, 2023 Form 4 Insider Report for Co-Diagnostics, Inc. (CODX)

Signature
/s/ Dwight H. Egan
Stock symbol
CODX
Transactions as of
May 23, 2023
Transactions value $
-$42,376
Form type
4
Date filed
5/24/2023, 01:03 PM
Previous filing
May 15, 2023
Next filing
Nov 27, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CODX Common Stock Award $0 +105K +112.66% $0.00 198K May 23, 2023 Direct F1
transaction CODX Common Stock Disposed to Issuer -$42.4K -32.1K -16.2% $1.32 166K May 23, 2023 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 Unit Options Exercise $0 -105K -14.06% $0.00 642K May 23, 2023 Common Stock 747K $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. Included in 275,000 restricted stock units awarded to the Reporting Person on June 6, 2022, pursuant to the Co-Diagnostics, Inc. 2015 Long Term Incentive Plan, and vest in 6 equal installments every 6 months commencing on November 23, 2022. Included in 155,000 restricted stock units awarded to the Reporting Person on January 17, 2023, pursuant to the Co-Diagnostics, Inc. 2015 Long Term Incentive Plan, and vest in 6 equal installments every 6 months commencing on May 23, 2023.
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 RSU's. 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.