Form 4: IRADIMED CEO Sells Shares Under 10b5-1 Plan

IRADIMED CEO Roger E. Susi sold 5,000 shares of common stock on December 8, 2025, through a pre-arranged 10b5-1 trading plan.

Summary

• Roger E. Susi, who serves as CEO, President, Chairman, and a 10% Owner of IRADIMED CORP (IRMD), reported the sale of common stock.
• On December 8, 2025, Susi disposed of a total of 5,000 shares of IRMD common stock.
• The sales were executed pursuant to a Rule 10b5-1 trading plan, which was adopted on June 16, 2025.
• The shares were sold at weighted average prices ranging from $95.30 to $98.24 per share.
• Following these transactions, Susi's indirect beneficial ownership includes 2,297,500 shares via the Phillip Susi 2008 Dynasty Trust, 162,950 shares via the Roger E. Susi Revocable Trust, and 2,062,500 shares via the Matthew Susi 2008 Dynasty Trust (with beneficial ownership disclaimed except for pecuniary interest).

Sentiment

Score: 5

Explanation: The sale of shares by a key executive, while technically insider selling, was conducted under a pre-arranged Rule 10b5-1 trading plan. This suggests a planned liquidity event rather than a reaction to new material information, thus having a neutral to slightly negative sentiment impact.

Negatives

• Insider selling by a key executive and significant owner, Roger E. Susi, who holds roles as CEO, President, Chairman, and 10% Owner.
• The sales involved 5,000 shares of common stock, reducing the beneficial ownership held through the Phillip Susi 2008 Dynasty Trust.

Related Party Transactions

• Sales of common stock were made from the Phillip Susi 2008 Dynasty Trust, an entity through which Roger E. Susi holds indirect beneficial ownership.
• Roger E. Susi also holds indirect beneficial ownership through the Roger E. Susi Revocable Trust and the Matthew Susi 2008 Dynasty Trust.

Stakeholder Impact

• Shareholders may perceive insider selling as a negative signal, although the existence of a 10b5-1 plan typically mitigates this concern by indicating a pre-scheduled transaction rather than a reaction to new information.
• The transaction represents a minor reduction in the overall beneficial ownership of a key executive, which is unlikely to have a significant operational impact on the company.

Key Dates

Recommendation

The reported sales by CEO Roger E. Susi were executed under a pre-arranged Rule 10b5-1 trading plan, which typically indicates a planned liquidity event rather than a reaction to new material non-public information. While insider selling can sometimes be a negative signal, the existence of a 10b5-1 plan mitigates this concern, suggesting a neutral impact on the company's fundamental outlook based solely on this filing. Therefore, a 'hold' recommendation is appropriate as this transaction does not provide new information to alter an existing investment thesis.

Keywords

IRADIMED, IRMD, insider trading, Form 4, stock sale, 10b5-1 plan, CEO, director, beneficial ownership