Phillip P. Chan - 24 Feb 2025 Form 4 Insider Report for Cytosorbents Corp (CTSO)

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 90,832 (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 $90,832. 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 RSUs, which vest as to two-thirds of the award on the first year anniversary of the date of grant and one-third of the award on the second year anniversary of the date of grant, subject to the Reporting Person's continued service as of the applicable vesting date, and will settle into shares of common stock, par value $0.001 per share (the "Common Stock"), of the Company upon vesting: 87,000 RSUs granted on July 7, 2023 and of which 29,000 RSUs remain unvested as of the date hereof;

Footnote F4

(continued from footnote 3) (ii) the following RSUs that will be settled into shares of Common Stock upon vesting upon a "Change In Control" of the Company as defined in the Amended and Restated CytoSorbents Corporation 2014 Long-Term Incentive Plan (the "Plan"): (a) 10,300 RSUs granted on March 15, 2018, (b) 18,700 RSUs granted on February 24, 2017, (c) 57,000 RSUs granted on June 7, 2016 and (d) 130,000 RSUs granted on April 8, 2015;

Footnote F5

(continued from footnote 4) (iii) the following RSUs, which vest in equal parts on the first year anniversary of the date of grant and the second year anniversary of the date of grant, subject to the Reporting Person's continued service as of the applicable vesting date, and will settle into shares of Common Stock of the Company upon vesting: 96,000 RSUs granted on April 2, 2024 and remain unvested as of the date hereof; and

Footnote F6

(continued from footnote 5) (iv) 936,363 shares of Common Stock owned by the Reporting Person.

Footnote F7

The Reporting Person's remaining 56,664 Series A Warrants expired unexercised on February 24, 2025.