Alan D. Sobel - 24 Feb 2025 Form 4 Insider Report for Cytosorbents Corp (CTSO)

Reporting relationship: Director
Issuer ticker: CTSO
Reported as of: 24 Feb 2025
Net transaction value: $0
SEC form: 4
Accepted by SEC: 26 Feb 2025, 19:26:40 UTC
Prior SEC filing: 22 Jan 2025
Next SEC filing: 08 Aug 2025
Source filing: View source filing
Reporting owner signature: /s/ Kathleen P. Bloch attorney-in-fact for Alan D. Sobel

Key filing fact

Alan D. Sobel filed Form 4 for Cytosorbents Corp (CTSO) on 26 Feb 2025.

Key facts

This page summarizes Alan D. Sobel's Form 4 filing for Cytosorbents Corp (CTSO).
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 26 Feb 2025, 19:26.

Change

Previous filing in this sequence was filed on 22 Jan 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

CTSO transaction

Common Stock

Exercise of out-of-the-money derivative security

Transaction value: $24,804
Shares: +21,950
Change %: +18%
Price: $1.13
Shares after: 145,757
Date: 24 Feb 2025
Ownership: Direct
Footnotes: F1, F2, F3

CTSO holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 2,000
Date: 24 Feb 2025
Ownership: Bernard Sobel Revocable Trust
Footnotes: F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

CTSO transaction Derivative

Series A Right Warrants (right to buy)

Exercise of out-of-the-money derivative security

Transaction value: $24,804
Shares: -21,950
Change %: -100%
Price: $1.13
Shares after: 0
Date: 24 Feb 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 21,950
Exercise price: $1.13
Footnotes: F1, F2

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

On January 17, 2025, the Reporting Person exercised certain subscription rights certificates received pursuant to a rights offering (the "Rights Offering") with CytoSorbents Corporation (the "Issuer") whereby the Reporting Person received Units consisting of an aggregate of 21,950 (i) shares of Issuer's common stock, par value $0.001 per share (the "Common Stock"), (ii) Series A Warrants to purchase one share of Common Stock, and (iii) Series B Warrants to purchase one share of Common Stock, at a subscription purchase price of $1.00 per unit for an aggregate cost of $21,950. The Rights Offering closed on January 10, 2025 (the "Closing Date").

Footnote F2

The Series A Right Warrants exercise price was calculated as 90% of the 5-day volume weighted average price of the Issuer's Common Stock over the 5-trading days prior to the expiration date of the Series A Right Warrants, rounded down to the nearest whole cent but (x) not lower than $1.00 and (y) not higher than $2.00.

Footnote F3

Includes (i) the following restricted stock units ("RSUs") that will be settled into Common Stock upon vesting upon a "Change in Control" of the Company, as defined in the CytoSorbents Corporation 2014 Long-Term Incentive Plan (the "Plan"): (a) 3,300 RSUs granted on March 15, 2018, (b) 6,000 RSUs granted on February 24, 2017, (c) 5,000 RSUs granted on June 7, 2016, and (d) 55,000 RSUs granted on April 8, 2015 and (ii) 76,457 shares of Common Stock owned directly by the Reporting Person.

Footnote F4

These shares are held in the Bernard Sobel Revocable Trust (the "Trust"), for which the Reporting Person is a trustee and a named beneficiary. Accordingly, the Reporting Person may be deemed the beneficial owner of the shares held in the Trust.