Form 4: Cytosorbents Corp Executive Deliargyris Acquires Shares and Options
SEC Form 4 Filing
Efthymios Deliargyris, Chief Medical Officer of Cytosorbents Corp, reports acquisition of shares and stock options.
Summary
- On April 2, 2024, Efthymios Deliargyris, the Chief Medical Officer of Cytosorbents Corp, acquired 61,000 shares of common stock.
- These shares were granted as restricted stock units (RSUs) that will vest in equal parts on the first and second anniversaries of the grant date, contingent upon continued service.
- On the same date, Deliargyris also acquired 86,000 stock options with an exercise price of $0.955, which vest over three years.
- Following these transactions, Deliargyris beneficially owns 409,433 shares of common stock and 86,000 stock options.
- Some of the owned RSUs will be settled into common stock upon a 'Change In Control' of the company.
Sentiment
Score: 6
Explanation: Neutral sentiment as it's a standard disclosure of stock and option grants to an executive. The acquisition of shares could be interpreted as a positive signal, but it's part of a compensation package.
Positives
- The acquisition of shares and options by a key executive could be seen as a positive sign of confidence in the company's future.
Industry Context
Form 4 filings are standard disclosures required by the SEC to ensure transparency in insider trading activities, allowing investors to monitor the actions of company executives and directors.
Stakeholder Impact
- Shareholders can monitor insider activity through this filing.
Key Dates
| Date | Description |
|---|---|
| 04/09/2020 | Grant date of 20,000 RSUs that cliff vest on the fourth anniversary of the grant date. |
| 08/10/2022 | Grant date of 55,000 RSUs that will be settled into Common Stock upon vesting upon a 'Change In Control' of the Company. |
| 08/10/2022 | Grant date of 17,334 RSUs that vest as to one-third of the award on each of the date of grant, the first anniversary of the date of grant, and the second anniversary of the date of grant. |
| 07/07/2023 | Grant date of 55,000 RSUs, which vest as to two-thirds of the award on the first anniversary of the date of grant and one-third of the award on the second anniversary of the date of grant. |
| 04/02/2024 | Date of transaction: Acquisition of 61,000 shares of common stock (RSUs) and 86,000 stock options. |
| 04/02/2034 | Expiration date of the stock options granted on 04/02/2024. |
| 04/04/2024 | Date of Form 4 filing. |
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