KORU Medical (KRMD) grants CFO RSUs, PSUs and stock options
Rhea-AI Filing Summary
KORU Medical Systems reported several equity transactions for Chief Financial Officer Thomas Edward Adams. He received grants of 38,918 restricted stock units and 38,918 performance stock units, each representing the right to receive one share of common stock upon vesting. The restricted stock units were granted under the 2024 Omnibus Equity Incentive Plan and vest in equal increments on March 17, 2027 and on the first, second and third anniversaries of that date. The performance stock units are tied to performance through December 31, 2028, with potential payout between 0% and 150% of the 38,918-share target, and they vest in full at the reported amount upon a change in control before that date. Adams also received an option to buy 58,490 shares of common stock at an exercise price of $4.35 per share, expiring on March 17, 2036. In a related event, 5,404 shares of common stock were issued upon vesting of restricted stock units, and 2,123 of those shares were withheld at $4.28 per share to satisfy tax obligations, leaving 3,281 shares held directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit | 38,918 | $0.00 | -- |
| Grant/Award | Performance Stock Unit | 38,918 | $0.00 | -- |
| Grant/Award | Option to buy Common Stock | 58,490 | $0.00 | -- |
| Exercise | Common Stock | 5,404 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,123 | $4.28 | $9K |
Footnotes (1)
- Represents common stock issued upon vesting of restricted stock units. Each restricted stock unit represents a contingent right to receive one share of common stock upon vesting. Represents shares withheld to satisfy tax obligations upon vesting of restricted stock units. Each unit represents a right to receive one share of common stock underlying the vested award on the applicable vesting date. This restricted stock unit award was granted under the Issuer's 2024 Omnibus Equity Incentive Plan. The units comprising the award vest in equal increments on March 17, 2027 and each first, second and third anniversaries thereof (each, a vesting date). These units will vest based upon the achievement of certain performance conditions as of December 31, 2028. The amount reported represents the amount of shares payable at target performance; the Reporting Person could earn 0%-150% of the amount reported depending on the level of performance achieved. These units will vest at 100% of the amount reported upon a change in control of the Company prior to December 31, 2028.
