SEC Form 4 · accession 0001654954-19-000386
CorMedix Inc. · CRMD
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Khoso Baluch
Officer — Chief Executive Officer · Director
Period of report
Jan 10, 2019
Accepted (ET)
Jan 11, 2019 · 4:22 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 | — | — | — | 250,373 | 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 | 400,000 | A | — | Jan 10, 2029 | Common Stock | 400,000 | 400,000 | D |
| Stock Option (Right to Buy Common Stock)F2 | $2.52 | holding | — | — | — | — | Sep 30, 2026 | Common stock | 1,250,000 | 1,250,000 | D |
| Stock Option (Right to Buy Common Stock)F3 | $2.52 | holding | — | — | — | — | Sep 30, 2026 | Common Stock | 300,000 | 300,000 | 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.
- F2These options were granted 9/30/2016. The 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.
- F3These options were granted on 9/30/2016. The option vests based on certain performance milestones. If such milestones are met prior to 12/31/18, then the option will not vest until 12/31/2018. The option will be forfeited if such milestones are not met by 10/3/2020.