Form 4: KORU Medical Systems Director Joseph M. Manko, Jr. Receives Equity Grant

KORU Medical Systems, Inc. granted 4,189 shares of common stock to Horton Capital Partners Fund, LP, linked to Director Joseph M. Manko, Jr.'s service for the quarter ended June 30, 2025.

Summary

• Joseph M. Manko, Jr., a Director and 10% owner of KORU Medical Systems, Inc. (KRMD), along with affiliated entities Horton Capital Management, LLC, Horton Capital Partners, LLC, and Horton Capital Partners Fund, L.P., filed a Form 4.
• On June 30, 2025, Horton Capital Partners Fund, LP was granted 4,189 shares of KORU Medical Systems, Inc. common stock.
• These shares were granted as consideration for Mr. Manko's service as a Director for the quarter ended June 30, 2025.
• The transaction price for these shares was $0, indicating a grant rather than a purchase.
• Following this transaction, the beneficial ownership attributed to the reporting persons, primarily through Horton Capital Partners Fund, LP, is 5,867,419 shares of common stock.
• The filing clarifies the complex beneficial ownership structure, noting that Horton Capital Management, LLC maintains investment and voting power over shares held by Horton Capital Partners Fund, LP, and Horton Capital Partners, LLC may be deemed a beneficial owner due to its general partner role and potential to assume investment authority.

Sentiment

Score: 6

Explanation: The document is a routine Form 4 filing disclosing an equity grant to a director. It is neutral in terms of company performance but slightly positive as it indicates continued alignment of director interests with shareholders through equity compensation.

Positives

• Director Joseph M. Manko, Jr. continues to receive equity compensation, aligning his interests with shareholders.
• The grant of shares at $0 price indicates compensation for services, which is a common practice for directors.

Negatives

• No specific negative financial or operational information is disclosed in this Form 4 filing.

Risks

• The filing itself does not detail specific operational or financial risks of KORU Medical Systems, Inc. It primarily concerns insider transactions and beneficial ownership.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance regarding the company's future performance or outlook. It is a disclosure of an insider transaction.

Management Comments

• The filing of this statement shall not be construed as an admission (a) that the person filing this statement is, for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the beneficial owner of any equity securities covered by this statement, or (b) that this statement is legally required to be filed by such person.
• Each Reporting Person disclaims beneficial ownership of the securities of the Issuer reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

Industry Context

This Form 4 filing is specific to an insider transaction at KORU Medical Systems, Inc. and does not provide broader industry context or trends. It reflects standard corporate governance practices regarding director compensation in publicly traded medical device companies.

Comparison to Industry Standards

• The practice of compensating directors with equity grants (shares at $0 price) is a common industry standard across publicly traded companies, including those in the medical device sector. This aligns director interests with long-term shareholder value.
• The detailed disclosure of beneficial ownership, including the roles of various affiliated entities (Horton Capital Management, Horton Capital Partners, Horton Capital Partners Fund), is consistent with SEC reporting requirements for 10% owners and directors, ensuring transparency in complex ownership structures.

Corporate Governance

Related Party Transactions

• The grant of 4,189 shares to Horton Capital Partners Fund, LP, which is indirectly controlled by Joseph M. Manko, Jr. (a Director and 10% owner), constitutes a related party transaction as it involves compensation to a director through an affiliated entity.

Stakeholder Impact

• Shareholders: The equity grant aligns the interests of a significant director and 10% owner with other shareholders, potentially fostering long-term value creation.
• Management/Directors: Joseph M. Manko, Jr. receives compensation for his service, which is standard practice.

Next Steps

• No specific future actions or milestones for the company are mentioned in this Form 4 filing.

Key Dates

Keywords

KORU Medical Systems, KRMD, Form 4, SEC filing, insider transaction, beneficial ownership, director compensation, equity grant, Horton Capital