Linda M. Tharby - Mar 13, 2024 Form 4 Insider Report for KORU Medical Systems, Inc. (KRMD)

Role
President and CEO, Director
Signature
/s/ Stephen Unger - Attorney-in-Fact
Stock symbol
KRMD
Transactions as of
Mar 13, 2024
Transactions value $
$26,307
Form type
4
Date filed
3/15/2024, 04:21 PM
Previous filing
Aug 24, 2023
Next filing
Sep 30, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KRMD Common Stock Award $41.1K +19.7K +1.86% $2.09 1.08M Mar 13, 2024 Direct F1, F2
transaction KRMD Common Stock Tax liability -$14.8K -7.09K -0.66% $2.09 1.07M Mar 13, 2024 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares earned per her employment agreement for bonus of which 70% was paid in cash and 30% paid in shares of the Company's common stock.
F2 Includes 200,000 in restricted stock awards that vest in 25% increments annually on 4/12/22,4/12/23, 4/12/24 and 4/12/25; 200,000 in restricted stock awards that vest based on a schedule of the Company's market capitalization prior to 3/15/27; 600,000 in restricted stock awards that vest based on a schedule of the Company's net sales growth targets for each of the fiscal years ended 12/31/22 through 12/31/25.
F3 Represents shares of common stock withheld by the issuer in satisfaction of tax withholding obligations upon the issuance of common stock for the portion of the 2023 bonus paid out in equity

Remarks:

The filing of this statement shall not be construed as an admission (a) that the person filing this statement is, for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the beneficial owner of any equity securities covered by this statement, or (b) that this statement is legally required to be filed by such person. Power of Attorney has been previously filed.