SEC Form 4 · accession 0001654954-19-000385
CorMedix Inc. · CRMD
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jr. John L. Armstrong
Officer — Exec VP of Tech Operations
Period of report
Jan 10, 2019
Accepted (ET)
Jan 11, 2019 · 4:21 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 | holding | — | — | — | 306,890 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy Common Stock)F1 | $1.66 | Jan 10, 2019 | A | 45,000 | A | — | Jan 10, 2029 | Common Stock | 45,000 | 45,000 | D |
| Stock Option (Right to Buy Common Stock)F2 | $2.18 | holding | — | — | — | — | Mar 1, 2025 | Common Stock | 100,000 | 100,000 | D |
| Stock Option (Right to Buy Common Stock)F3 | $1.52 | holding | — | — | — | — | Nov 14, 2024 | Common Stock | 10,000 | 10,000 | D |
| Stock Option (Right to Buy Common Stock)F4 | $3.25 | holding | — | — | — | — | Jul 28, 2025 | Common Stock | 15,000 | 15,000 | D |
| Stock Option (Right to Buy Common Stock)F5 | $2.51 | holding | — | — | — | — | Mar 8, 2026 | Common Stock | 200,000 | 200,000 | D |
Explanation of responses
- F1These options were granted on 1/10/2019. These options vest, subject to continued employment, as follows: 35% of the options vest over time, with 25% vested on the grant date and 25% vesting on the first, second and third anniversaries of the grant date; and 65% of the options vest upon the achievement of certain milestones.
- F2The option vests based on certain performance milestones. The option will be forfeited if such milestones are not met by certain dates.
- F3These options vested upon the achievement of certain milestones, subject to continued employment.
- F4One third of these options vested upon the achievement of a certain milestone and one third vested on each of December 31, 2015 and July 28, 2015.
- F515,000 of these options vest monthly over four years, beginning on March 9, 2016, 20,000 vest upon the achievement of a certain milestone, subject to continued employment, and the rest vested upon the achievement of certain milestones.