SEC Form 4 · accession 0001161697-17-000308
KORU Medical Systems, Inc. · KRMD
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jun 30, 2017 | A | 42,553 | $0.47 | A | 88,717 | D |
Table II — derivative securities
Remarks
The Company hired Mr. Ma as an employee on November 1, 2016 and as part of his employment agreement he is entitled to shares of the Company's common stock quarterly. The number of shares issued each quarter is determined by dividing $15,000 by the closing bid price of the Company's common stock as reported by the OTC Markets Inc. as of the last working day of such quarter (the "Closing Price"). Mr. Ma became an "officer" as defined in Rule 16a-1(f) of the Securities Exchange Act of 1934 on May 3, 2017. With the Company's fiscal year end change to calendar year 12/31/17, with Mr Ma's agreement, the number of shares issued on 6/30/17 were determined based on four months or $20,000.