Form 4: Cardio Diagnostics Director Settles Restricted Stock Units for Common Stock

Paul Frederick Burton, a director at Cardio Diagnostics Holdings, Inc., settled restricted stock units (RSUs) for common stock on March 31, 2024.

Summary

• On March 31, 2024, Paul Frederick Burton, a director of Cardio Diagnostics Holdings, Inc., settled restricted stock units (RSUs) for common stock.
• The transaction involved the settlement of RSUs that vested on March 31, 2024, resulting in the issuance of 8,803 shares of common stock.
• The RSUs were settled at a price of $1.42 per share, which was the closing price of the company's common stock on the vesting date.
• The reporting person was awarded $50,000 in value of RSUs on January 23, 2024, with $12,500 vesting on March 31, 2024.
• The remaining RSUs will vest in installments of $12,500 on June 30, 2024, September 30, 2024, and December 31, 2024, subject to continued service with the issuer.
• The RSUs were granted pursuant to the issuer's 2022 Equity Incentive Plan.

Sentiment

Score: 5

Explanation: The document describes a routine transaction related to director compensation, with no indication of positive or negative sentiment.

Future Outlook

Remaining RSUs will vest in installments of $12,500 on June 30, 2024, September 30, 2024, and December 31, 2024, subject to continued service with the issuer.

Industry Context

This filing reflects routine compensation practices for directors, aligning their interests with shareholders through equity-based compensation.

Stakeholder Impact

• The settlement of RSUs may have a minor dilutive effect on existing shareholders.

Key Dates