4//SEC Filing
Deliargyris Efthymios 4
Accession 0001104659-22-090254
CIK 0001175151other
Filed
Aug 11, 8:00 PM ET
Accepted
Aug 12, 6:49 PM ET
Size
13.7 KB
Accession
0001104659-22-090254
Insider Transaction Report
Form 4
Deliargyris Efthymios
Chief Medical Officer
Transactions
- Award
Stock Option (right to buy)
2022-08-10+74,000→ 74,000 totalExercise: $1.95Exp: 2032-08-10→ Common Stock (74,000 underlying) - Award
Common Stock
2022-08-10+55,000→ 228,384 total - Award
Common Stock
2022-08-10+52,000→ 283,384 total - Award
Stock Option (right to buy)
2022-08-10+300,000→ 300,000 totalExercise: $1.95Exp: 2032-08-10→ Common Stock (300,000 underlying)
Footnotes (7)
- [F1]These shares represent restricted stock units ("RSUs") which shall vest as to one-third of the award on each of the date of grant, the first anniversary of the date of grant, and the second anniversary of the date of grant, subject to the reporting person's continued service as of the applicable vesting date, and will be settled into common stock, par value $0.001 per share (the "Common Stock") upon vesting.
- [F2]Includes (a) (i) 120,000 RSUs granted on April 9, 2020 and (ii) 55,000 RSUs granted on August 10, 2022 and reported on this Form 4, in each case that will be settled into Common Stock upon vesting upon a "Change In Control" of CytoSorbents Corporation (the "Company") as defined in the Amended and Restated CytoSorbents Corporation 2014 Long-Term Incentive Plan (the "Plan";
- [F3](continued from footnote 2) (b) the following RSUs (which vest as to one-third of the award on each of the date of grant, the first anniversary of the date of grant, and the second anniversary of the date of grant, subject to the reporting person's continued service as of the applicable vesting date) and will settle into Common Stock upon vesting: (a) 13,334 RSUs granted on April 12, 2021 and unvested on the date hereof; (b) 20,000 RSUs granted on April 9, 2020 and unvested on the date hereof and (c) 52,000 RSUs granted on August 10, 2022 reported on this Form 4 and unvested on the date hereof; and
- [F4](continued from footnote 3) (c) 23,050 shares of Common Stock owned by the reporting person.
- [F5]These stock options were granted pursuant to the Plan. The shares underlying these stock options vest as to one-quarter of the award on each of the date of grant, the first anniversary of the date of grant, the second anniversary of the date of grant and the third anniversary of the date of grant, subject to the reporting person's continued service as of the applicable vesting date.
- [F6]These stock options were granted pursuant to the Plan. The shares underlying these stock options will vest only upon the achievement of certain milestones before December 31, 2025. Specifically, (i) 100,000 options will vest if the Company obtains one U.S. Food and Drug Administration approval for its product DrugSorb, (ii) 50,000 options will vest if the Company obtains a second U.S. Food and Drug Administration approval for its product DrugSorb, (iii) 60,000 options will vest if the Company achieves $80 million or more in annual ex-U.S. sales, (iv) 60,000 options will vest if the Company achieves $20 million or more in annual U.S. sales, and (v) 30,000 options will vest if the Company achieves U.S. GAAP breakeven.
- [F7]These shares represent RSUs that will vest upon a "Change in Control" of the Company as defined in the Plan.
Documents
Issuer
Cytosorbents Corp
CIK 0001175151
Entity typeother
Related Parties
1- filerCIK 0001751617
Filing Metadata
- Form type
- 4
- Filed
- Aug 11, 8:00 PM ET
- Accepted
- Aug 12, 6:49 PM ET
- Size
- 13.7 KB