SEC Form 4 · accession 0001354488-17-000514
CorMedix Inc. · CRMD
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael W George
Director
Period of report
May 15, 2017
Accepted (ET)
May 17, 2017 · 4:07 pm EDT
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 | May 15, 2017 | P | 10,000 | $0.499 | A | 10,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF3 | — | May 15, 2017 | A | 15,306 | A | — | — | Common Stock | 15,306 | 15,306 | D |
| Stock Option (Right to Buy Common Stock)F1 | $2.24 | holding | — | — | — | — | Feb 21, 2027 | Common Stock | 40,000 | 40,000 | D |
| Restricted Stock UnitsF2 | — | holding | — | — | — | — | — | Common Stock | 12,232 | 12,232 | D |
| Phantom StockF3 | — | holding | — | — | — | — | — | Common Stock | 3,472 | 3,472 | D |
| Phantom StockF3 | — | holding | — | — | — | — | — | Common Stock | 4,143 | 4,143 | D |
| Stock Option (Right to Buy Common Stock)F4 | $2.11 | holding | — | — | — | — | Apr 5, 2024 | Common Stock | 15,000 | 15,000 | D |
| Stock Option (Right to Buy Common Stock)F1 | $2.79 | holding | — | — | — | — | Feb 27, 2024 | Common Stock | 30,000 | 30,000 | D |
| Stock Option (Right to Buy Common Stock)F1 | $5.62 | holding | — | — | — | — | Mar 1, 2025 | Common Stock | 50,000 | 50,000 | D |
| Phantom StockF3 | — | holding | — | — | — | — | — | Common Stock | 1,847 | 1,847 | D |
| Phantom StockF3 | — | holding | — | — | — | — | — | Common Stock | 1,176 | 1,176 | D |
| Phantom StockF3 | — | holding | — | — | — | — | — | Common Stock | 2,459 | 2,459 | D |
| Phantom StockF3 | — | holding | — | — | — | — | — | Common Stock | 3,125 | 3,125 | D |
| Stock Option (Right to Buy Common Stock)F1 | $1.91 | holding | — | — | — | — | Feb 21, 2026 | Common Stock | 90,000 | 90,000 | D |
| Phantom StockF3 | — | holding | — | — | — | — | — | Common Stock | 3,968 | 3,968 | D |
| Phantom StockF3 | — | holding | — | — | — | — | — | Common Stock | 2,767 | 2,767 | D |
| Phantom StockF3 | — | holding | — | — | — | — | — | Common Stock | 4,335 | 4,335 | D |
Explanation of responses
- F1These options vest in full on the first anniversary of the date of grant, subject to continued service on the board.
- F2Each restricted stock unit represents the right to receive one share of CorMedix Inc. common stock The restricted stock units vest in full on the first anniversary of the date of grant, subject to continued service on the board.
- F3Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in common stock on the tenth business day of January of the year following the reporting person's termination of service as a director.
- F45,000 shares vest upon completion of the April 2014 milestone, 10,000 shares vest upon completion of another milestone by the third quarter of 2014.