Form 4: Cardio Diagnostics Director Oded Levy Settles Restricted Stock Units

Director Oded Levy settled vested restricted stock units (RSUs) for shares of Cardio Diagnostics Holdings, Inc. common stock on March 31, 2024.

Summary

• On March 31, 2024, Oded Levy, a director of Cardio Diagnostics Holdings, Inc., settled restricted stock units (RSUs) that vested on December 31, 2023.
• The settlement involved the issuance of 8,803 shares of common stock at a price of $1.42 per share.
• Following the transaction, Levy beneficially owns 71,596 shares of common stock.
• Levy was awarded $50,000 in value of RSUs on January 23, 2024, which vest in four equal installments of $12,500 on March 31, 2024, June 30, 2024, September 30, 2024, and December 31, 2024, subject to continued service.
• The RSUs were granted under the company's 2022 Equity Incentive Plan.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of insider transactions related to equity compensation. It doesn't inherently indicate positive or negative sentiment.

Future Outlook

Subject to continued service with the Issuer on the vesting date, the RSUs will continue to vest $12,500 in value on June 30, 2024, $12,500 in value on September30, 2024 and $12,500 in value on December 31, 2024, based on the closing price of the Issuers common stock on the applicable vesting date.

Industry Context

This filing is a routine disclosure related to executive compensation and equity awards, common in publicly traded companies. It provides transparency into the holdings and transactions of company insiders.

Comparison to Industry Standards

• Equity compensation is a standard practice in the biotech and diagnostics industries to align management's interests with those of shareholders.
• The vesting schedule and terms of the RSUs appear typical for such awards.
• Comparable companies often use similar equity incentive plans to attract and retain talent.

Stakeholder Impact

• The transaction has a minor dilutive effect on existing shareholders due to the issuance of new shares.
• It aligns the director's interests with shareholders through equity ownership.

Next Steps

• Continued vesting of RSUs on June 30, 2024, September 30, 2024, and December 31, 2024, subject to continued service.

Key Dates