Form 4: BioCorRx Director Joseph Galligan Receives Shares as Compensation

Joseph Galligan, a director of BioCorRx Inc., received shares of common stock as compensation for his services, according to a recent SEC filing.

Summary

• Joseph Galligan, a director at BioCorRx Inc., received 6,173 shares of common stock on January 2, 2024, and 5,566 shares on March 28, 2024, as compensation for his services.
• These shares were issued pursuant to a Director Agreement dated February 16, 2021.
• The compensation is equivalent to $5,000 per fiscal quarter, based on the average closing price of the company's common stock in the three trading days preceding the last day of the quarter.
• The average closing price used for the January 2, 2024 transaction was $0.81, and for the March 28, 2024 transaction, it was $0.90.
• Following these transactions, Mr. Galligan beneficially owns 237,858 shares of BioCorRx Inc. common stock.

Sentiment

Score: 6

Explanation: The document is a routine disclosure of director compensation, which is neither particularly positive nor negative. The sentiment is neutral.

Positives

• The director's compensation structure aligns his interests with the company's performance.

Industry Context

Director compensation through stock grants is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Stakeholder Impact

• Shareholders may view the stock grants as a way to align director interests with company performance.
• The stock grants dilute existing shareholders' ownership, although the impact is likely minimal given the size of the grants.

Key Dates

Keywords

BioCorRx, Joseph Galligan, Director Compensation, Stock Issuance, Form 4, Beneficial Ownership