Form 4: Co-Diagnostics President's Routine Stock Transactions

Co-Diagnostics President Richard David Abbott reported the vesting of 56,667 restricted stock units and the sale of 17,200 shares to cover tax obligations.

Summary

• Richard David Abbott, President of Co-Diagnostics, Inc. (CODX), reported transactions involving the company's common stock.
• On November 23, 2025, 56,667 shares of common stock were acquired at a price of $0.00, resulting from the vesting of Restricted Stock Units (RSUs).
• These vested shares are part of two RSU awards: 120,000 units awarded on April 26, 2024, and 220,000 units awarded on August 13, 2025, both under the Co-Diagnostics, Inc. 2015 Long Term Incentive Plan.
• The vesting occurs in 6 equal installments every 6 months, commencing on November 23, 2024, for the first award, and November 23, 2025, for the second award.
• Concurrently, 17,200 shares of common stock were disposed of at a price of $0.35 per share.
• This disposition represents a mandatory 'sell to cover' transaction to satisfy tax withholding obligations related to the RSU vesting, not a discretionary trade by Mr. Abbott.
• Following these transactions, Mr. Abbott's direct beneficial ownership of common stock is 66,202 shares, and he holds 293,771 derivative Restricted Stock Units.

Sentiment

Score: 5

Explanation: The filing reports routine, pre-scheduled insider transactions related to executive compensation and mandatory tax withholding, indicating a neutral sentiment.

Positives

• The vesting of 56,667 Restricted Stock Units represents a scheduled compensation event for the President, indicating continued executive incentive alignment.

Negatives

• The sale of 17,200 shares, while mandatory for tax purposes, reduces the President's direct beneficial ownership of common stock.

Stakeholder Impact

• Shareholders: The transactions are routine executive compensation events and mandatory tax-related sales, which are generally expected and have minimal direct impact on the company's operational or strategic direction.
• Employees: Reflects standard executive compensation practices under the company's long-term incentive plan.

Next Steps

• Future installments of the 120,000 Restricted Stock Units will continue to vest every 6 months from November 23, 2024.
• Future installments of the 220,000 Restricted Stock Units will continue to vest every 6 months from November 23, 2025.

Key Dates

Keywords

CODX, Insider Transaction, Form 4, Restricted Stock Units, RSU Vesting, Executive Compensation, Sell to Cover, Stock Ownership