BEAT Form 4: Richard Ferrari grants 124,584 RSUs and sells shares
Rhea-AI Filing Summary
Richard Ferrari, a director of HeartBeam, Inc. (BEAT), filed a Form 4 reporting changes in his beneficial ownership. The filing shows 65,653 shares of common stock held indirectly through the Ferrari Living Trust and a disposition of 179,136 shares. The report also records two restricted stock unit/award grants: 80,645 RSUs awarded on July 11, 2025 and 43,939 RSUs granted on September 30, 2025.
The July RSUs vest 100% on the earlier of July 11, 2026 or the issuer's 2026 annual meeting, subject to continued service as an Outside Director. The September RSUs vest in two tranches: one half at three months and the remainder at six months from the vesting commencement date (July 1, 2025). The July RSUs are described as restricted stock units that do not expire and convert to one share each upon vesting.
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Insights
Director reporting shows stock disposition and time‑based equity awards for alignment.
The Form 4 discloses a disposition of 179,136 common shares and an indirect holding of 65,653 shares via the Ferrari Living Trust. The juxtaposition of a sizeable disposal with newly granted RSUs indicates a shift from liquid holdings to time‑vested compensation while maintaining a formal equity interest.
The RSUs vest on explicit schedules—100% on or before July 11, 2026 for the July grant and three‑ and six‑month tranches for the September grant—linking future ownership to continued service as an Outside Director.
Equity awards are structured with short‑term vesting milestones and one‑year cliff for an Outside Director.
The filing specifies an 80,645 RSU grant dated July 11, 2025 that vests by July 11, 2026 or the 2026 annual meeting, and a 43,939 Special RSU grant with three‑ and six‑month vesting from a July 1, 2025 commencement. These schedules create near‑term vesting events that will result in issuance of common shares if service conditions are met.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Award | -- | -- | -- |
| holding | Restricted Stock Award | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- These shares are held by the Ferrari Living Trust, of which the Reporting Person is the trustee. These securities are restricted stock units (RSUs) granted on July 11, 2025. Each RSU represents a contingent right to receive one share of Common Stock of the Issuer. 100% of the RSUs shall vest on the earlier of July 11, 2026, or the date of the Issuer's 2026 annual meeting of stockholders, subject to the Reporting Person continuing to be an Outside Director (as defined in the Issuer's 2022 Equity Inventive Plan) through the applicable vesting date. RSUs do not expire, they either vest or are canceled prior to vesting date Granted Restricted Stock Units (RSU's) on September 30, 2025, one half of the total number of Shares subject to the Special RSU shall vest on the three-month anniversary of the vesting commencement date (July 1, 2025) and the remaining Shares subject to the Special RSU shall vest on the six-month anniversary of the vesting commencement date. These RSUs have been issued from the Company's 2022 Equity Incentive Plan.
