New insider Lev Joshua S. claimed ownership of 16,333 shares (SEC Form 3)
$ECOR
Biotechnology: Electromedical & Electrotherapeutic Apparatus
Health Care
| FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES 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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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 10/04/2024 |
3. Issuer Name and Ticker or Trading Symbol
electroCore, Inc. [ ECOR ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
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| 1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Common Stock | 16,333(1) | D | |
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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| 1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Stock Option (Right to Buy) | 07/31/2024(2) | 07/31/2033 | Common Stock | 20,000 | $4.5 | D | |
| Stock Option (Right to Buy) | 01/14/2023(3) | 01/14/2032 | Common Stock | 6,666 | $11.55 | D | |
| Explanation of Responses: |
| 1. Consists of 16,333 shares of Common Stock issuable pursuant to previously issued restricted stock units, (i) 333 of which will vest by February 9, 2025, and 16,000 of which will vest (i) with respect to 5,333 shares of Common Stock on each of January 12, 2025, January 12, 2026, and January 12, 2027, provided that (x) the Reporting Person remains in continuous service with the Issuer or an affiliate through the applicable vesting date, and (y) if and to the extent not already vested, in the case of termination of the Reporting Person without "cause" or resignation for "good reason" within two years after a "change in control" as such terms are defined in the Issuer's Executive Severance Policy. |
| 2. 6,667 of such options are currently vested. The remaining options will vest (i) in two equal annual installments on each of July 31, 2024 and July 31, 2025, provided that (i) the Reporting Person remaining in continuous service with the Issuer or an affiliate through the applicable vesting date, and (ii) to the extent not already vested, in the case of termination of the Reporting Person without "cause" or resignation for "good reason" within two years after a "change in control" as such terms are defined in the Issuer's Executive Severance Policy. |
| 3. 4,444 of such option are currently vested. The remaining options will vest on January 14, 2025, provided that (i) the Reporting Person remaining in continuous service with the Issuer or an affiliate through the applicable vesting date, and (ii) to the extent not already vested, in the case of termination of the Reporting Person without "cause" or resignation for "good reason" within two years after a "change in control" as such terms are defined in the Issuer's Executive Severance Policy. |
| Remarks: |
| On October 4, 2024, the Reporting Person assumed the role of Chief Financial Officer of the Issuer. |
| /s/ Ira L. Kotel, attorney-in-fact | 10/04/2024 | |
| ** 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 5 (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. | ||