Form 4: ICAD CTO Jonathan Go Disposes of Shares and Options Following RadNet Merger Completion

ICAD Chief Technology Officer Jonathan Go's beneficial ownership of common stock and stock options ceased as ICAD Inc. merged with RadNet, Inc. on July 17, 2025.

Summary

• Jonathan Go, Chief Technology Officer of ICAD Inc., reported the disposition of all his beneficial ownership in ICAD common stock and stock options.
• The disposition occurred on July 17, 2025, which was the effective time of the merger between ICAD Inc. and RadNet, Inc., through its wholly-owned subsidiary Trio Merger Sub, Inc.
• At the effective time of the merger, each outstanding share of ICAD common stock was automatically canceled and converted into the right to receive 0.0677 shares of RadNet common stock, with cash in lieu of fractional shares.
• A total of 188,725 shares of ICAD common stock beneficially owned by Jonathan Go were disposed of.
• Eligible ICAD stock options (those with an exercise price less than $7.20) were assumed by RadNet and converted into options to purchase RadNet stock, adjusted by the 0.0677 exchange ratio.
• Options with exercise prices of $4.37 (25,000 shares), $4.25 (25,000 shares), and $1.85 (50,000 shares) were converted.
• ICAD stock options with an exercise price of $7.20 or greater terminated and ceased to be outstanding without any consideration payable.
• Options with exercise prices of $12.84 (4,951 shares and 14,183 shares) and $18 (3,286 shares, 21,000 shares, and 19,000 shares) terminated without consideration.

Sentiment

Score: 5

Explanation: The document is a factual report of a completed corporate transaction (merger) and its impact on an insider's holdings. While some options terminated without value for the insider, the overall event is the execution of a strategic plan, which is neutral in sentiment from a reporting perspective.

Positives

• The completion of the merger provides ICAD shareholders, including the reporting person, with shares in RadNet, Inc., a larger entity in the medical imaging sector.
• Eligible stock options held by the reporting person were successfully converted into options to acquire RadNet stock, preserving their value.

Negatives

• Stock options with an exercise price of $7.20 or greater, totaling 62,420 shares, terminated without any consideration, resulting in a loss of potential value for the reporting person.

Future Outlook

The document reports a completed merger transaction and does not provide forward-looking statements or guidance for the combined entity.

Management Comments

• Jonathan Go is identified as the Chief Technology Officer of ICAD Inc.

Industry Context

The merger of ICAD Inc. into RadNet, Inc. represents a consolidation within the medical imaging and healthcare technology industry, with RadNet expanding its capabilities or market share through acquisition.

Stakeholder Impact

• ICAD shareholders received RadNet shares in exchange for their ICAD stock.
• ICAD employees holding stock options were impacted, with eligible options converting to RadNet options and others terminating without value.

Key Dates

Keywords

ICAD, RadNet, Merger, Form 4, Insider Transaction, Stock Options, Beneficial Ownership, Corporate Acquisition, Healthcare Technology