EVP Hurlburt Elizabeth exercised 140,027 shares at a strike of $4.48 and sold $1,565,670 worth of shares (140,027 units at $11.18), increasing direct ownership by 308% to 185,424 units (SEC Form 4)
$CRMD
Biotechnology: Pharmaceutical Preparations
Health Care
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
| Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
CorMedix Inc. [ CRMD ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 11/14/2024 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 11/14/2024 | M | 3 | A | $1.45 | 45,400 | D | |||
| Common Stock | 11/14/2024 | M | 8,169 | A | $8.3 | 53,569 | D | |||
| Common Stock | 11/14/2024 | M | 9,888 | A | $5.63 | 63,457 | D | |||
| Common Stock | 11/14/2024 | M | 34,467 | A | $4.08 | 97,924 | D | |||
| Common Stock | 11/14/2024 | M | 62,500 | A | $4.43 | 160,424 | D | |||
| Common Stock | 11/14/2024 | M | 25,000 | A | $3.47 | 185,424 | D | |||
| Common Stock(1) | 11/14/2024(1) | (1) | S(1) | 140,027(1) | D(1) | $11.1812(1) | 45,397(1) | D(1) | (1) | |
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Stock Option (Right to Buy Common Stock) | $1.45 | 11/14/2024 | M | 3 | (2) | 03/19/2028 | Common Stock | 3 | $0 | 53,997 | D | ||||
| Stock Option (Right to Buy Common Stock) | $8.3 | 11/14/2024 | M | 8,169 | (3) | 01/10/2029 | Common Stock | 8,169 | $0 | 12,711 | D | ||||
| Stock Option (Right to Buy Common Stock) | $5.63 | 11/14/2024 | M | 9,888 | (4) | 05/11/2030 | Common Stock | 9,888 | $0 | 27,612 | D | ||||
| Stock Option (Right to Buy Common Stock) | $4.08 | 11/14/2024 | M | 34,467 | (5) | 05/11/2030 | Common Stock | 34,467 | $0 | 3,033 | D | ||||
| Stock Option (Right to Buy Common Stock) | $4.43 | 11/14/2024 | M | 62,500 | (6) | 01/14/2033 | Common Stock | 62,500 | $0 | 62,500 | D | ||||
| Stock Option (Right to Buy Common Stock) | $3.47 | 11/14/2024 | M | 25,000 | (7) | 01/11/2034 | Common Stock | 25,000 | $0 | 75,000 | D | ||||
| Explanation of Responses: |
| 1. This transaction was executed in multiple trades at prices ranging from $11.00 to $11.45. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected. |
| 2. These options were granted 3/19/2018 and vested as follows: 37,200 vested over four years in four (4) equal installments on the first four anniversaries of 3/19/2018. The remaining options vested on the achievement of certain milestones. This option was previously reported as covering 186,000 shares but was adjusted to reflect a reverse stock split that occurred on March 26, 2019. |
| 3. These options were granted 1/10/2019 and vested as follows: 35% of the options vest over time, with 25% vested on the grant date and 25% vesting on the first, second and third anniversaries of the grant date; and 65% of the options vest upon the achievement of certain milestones. |
| 4. These options were granted on 05/11/2020. These options vested 1/4 on the date of grant, 1/4 on the first anniversary of the date of grant, 1/4 on the second anniversary of the date of grant and 1/4 on the third anniversary of the date of grant. |
| 5. These options were granted on 05/11/2020. These options vested 1/4 on the date of grant, 1/4 on the first anniversary of the date of grant, 1/4 on the second anniversary of the date of grant and 1/4 on the third anniversary of the date of grant. |
| 6. These options were granted on 1/14/2023. These options vested 1/4 on the date of grant, 1/4 on the first anniversary of the date of grant and will vest 1/4 on the second anniversary of the date of grant and 1/4 on the third anniversary of the date of grant. |
| 7. These options were granted on 01/12/2024. These options vested 1/4 on the date of grant, and, subject to continued employment, will vest 1/4 on the first anniversary of the date of grant, 1/4 on the second anniversary of the date of grant and 1/4 on the third anniversary of the date of grant. |
| /s/ Elizabeth Hurlburt | 11/18/2024 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||