Merit Medical (NASDAQ: MMSI) grants stock awards to chief legal officer
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Merit Medical Systems’ chief legal officer and secretary, Lloyd Brian G., reported multiple equity awards in common stock. On February 26, 2026, he acquired several blocks of shares at $0.00 per share as grants, including restricted stock units that vest in scheduled annual installments, each RSU converting into one common share when vested.
Additional shares were issued after the compensation committee determined performance conditions were met for performance stock units granted on February 28, 2023. He also surrendered 5,778 shares at $78.02 per share to cover payroll and income taxes, with no shares sold in the open market. The filing also notes existing non‑qualified stock options that become exercisable in 25% annual installments beginning on various prior grant dates.
Positive
- None.
Negative
- None.
Insider Trade Summary
8 transactions reported
Mixed
8 txns
Insider
Lloyd Brian G.
Role
CHIEF LEGAL OFFICER, SECRETARY
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock, No Par Value | 10,254 | $0.00 | -- |
| Grant/Award | Common Stock, No Par Value | 6,409 | $0.00 | -- |
| Grant/Award | Common Stock, No Par Value | 17,002 | $0.00 | -- |
| Tax Withholding | Common Stock, No Par Value | 5,778 | $78.02 | $451K |
| holding | Non-qualified stock options (right to buy) | -- | -- | -- |
| holding | Non-qualified stock options (right to buy) | -- | -- | -- |
| holding | Non-qualified stock options (right to buy) | -- | -- | -- |
| holding | Non-qualified stock options (right to buy) | -- | -- | -- |
Holdings After Transaction:
Common Stock, No Par Value — 44,499 shares (Direct);
Non-qualified stock options (right to buy) — 16,722 shares (Direct)
Footnotes (1)
- Represents a grant of restricted stock units ("RSUs"). The RSUs vest in three equal annual installments on each of the first three anniversaries of the grant date, subject to the Reporting Person's continued service through the applicable vesting date. Each RSU represents the contingent right to receive one share of Common Stock upon vesting. Represents a grant of RSUs. The RSUs vest in two equal installments on each of the second and the third anniversaries of the grant date, subject to the Reporting Person's continued service through the applicable vesting date. Each RSU represents the contingent right to receive one share of Common Stock upon vesting. These shares were acquired upon a determination of the Company's Compensation and Talent Development Committee that certain conditions had been met for the issuance of such shares pursuant to performance stock units that were granted on 02/28/2023. The Reporting Person surrendered 5,778 shares of common stock to the Issuer for payroll and income taxes. No shares were sold in the open market. Become exercisable in equal annual installments of 25% commencing on 02/26/2021. Become exercisable in equal annual installments of 25% commencing on 03/19/2022. Becomes exercisable in equal annual installments of 25% commencing 02/28/2023. Become exercisable in equal annual installments of 25% commencing on 02/28/2024.
FAQ
What insider transactions did MMSI’s Lloyd Brian G. report on this Form 4?
He reported several stock awards and a tax-related share surrender. The awards included restricted and performance-based shares at $0.00 per share, plus 5,778 shares surrendered at $78.02 each to cover taxes, with no open-market sales.
How do the new RSU grants to MMSI’s chief legal officer vest?
The RSUs vest in scheduled future installments. One grant vests in three equal annual installments on each of the first three anniversaries, and another vests in two equal installments on the second and third anniversaries, contingent on continued service through each vesting date.
What is the significance of the performance stock units mentioned in the MMSI Form 4?
Some shares were issued when the compensation committee determined performance conditions were satisfied. These shares came from performance stock units originally granted on February 28, 2023, meaning the executive received common stock after meeting predefined performance criteria set under that award.
How were taxes handled on the MMSI insider’s recent stock awards?
Taxes were covered through share surrender rather than cash. The reporting person surrendered 5,778 shares of common stock back to the issuer for payroll and income taxes, and the disclosure clarifies that no shares involved in this withholding were sold on the open market.
What does the Form 4 say about the MMSI insider’s stock options?
The filing lists non-qualified stock options as existing holdings. Footnotes state these options become exercisable in 25% annual installments beginning on specific dates in 2021, 2022, 2023, and 2024, reflecting a multi-year vesting schedule tied to earlier grants.