SEC Form 4 · accession 0001354488-16-008655

CorMedix Inc. · CRMD

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — Chief Executive Officer · Director

Period of report

Dec 9, 2016

Accepted (ET)

Dec 13, 2016 · 4:01 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001410098

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock	Dec 9, 2016	P	10,000	$1.77	A	10,000	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Option (right to buy)^F1	$2.52	holding	—	—	—	—	Sep 30, 2026	Common Stock	1,250,000	1,250,000	D
Stock Option (right to buy)^F2	$2.52	holding	—	—	—	—	Sep 30, 2026	Common Stock	300,000	300,000	D
Stock Option (right to buy)^F3	$2.52	holding	—	—	—	—	Sep 30, 2026	Common Stock	300,000	300,000	D

F1The option vests as follows: 25% on 10/3/2017, 25% on 10/3/2018, 25% on 10/3/2019, and 25% on 10/3/2020.
F2The option vests on the date the Company's common stock attains an average closing price over any period of 30 consecutive trading days equal to or greater than 2.75 times the closing price per share on the lesser of 9/23/16 or 10/3/16 (the "Stock Price Condition"); provided, that if the Stock Price Condition is met prior to 12/31/18 then the option will not vest until 12/31/18. The option will be forfeited (i) if the stock price on 12/31/18 is below the closing price per share on the lesser of 9/23/16 or 10/3/2016; or (ii) if the Stock Price Condition is not met by 10/3/2020.
F3The option vests based on certain performance milestones. If such milestones are met prior to 12/31/18, then the option will not vest until 12/31/18. The option will be forfeited if such milestones are not met by 10/3/2020.