Form 4: KORU Medical Systems Director Receives Shares for Service
SEC Form 4 Filing
Joseph M. Manko, Jr., a director of KORU Medical Systems, received 5,454 shares of common stock for his service during the quarter ended September 30, 2024.
Summary
- On September 30, 2024, Horton Capital Partners Fund, LP (HCPF) received 5,454 shares of Koru Medical Systems, Inc. common stock as compensation for Joseph M. Manko, Jr.'s service as a director for the quarter ending September 30, 2024.
- The Form 4 is jointly filed by Horton Capital Management, LLC (HCM), Horton Capital Partners, LLC (HCP), HCPF, and Joseph M. Manko, Jr.
- HCM maintains investment and voting power over the shares held by HCPF due to investment advisory agreements.
- HCP may be deemed the beneficial owner of the common stock because it can assume HCM's investment and voting authority if HCM's agreement is terminated.
- Mr. Manko is the managing member of both HCM and HCP.
- Each reporting person disclaims beneficial ownership of the securities except to the extent of their pecuniary interest.
Sentiment
Score: 7
Explanation: The sentiment is neutral. It's a routine filing related to director compensation. The information is factual and doesn't inherently suggest positive or negative implications for the company's performance.
Positives
- The receipt of shares indicates continued engagement of Mr. Manko as a director.
Management Comments
- 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
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- Shareholders are informed about changes in beneficial ownership.
- The transaction reflects the company's compensation practices for its directors.
Key Dates
| Date | Description |
|---|---|
| 09/30/2024 | Date of transaction: Horton Capital Partners Fund, LP, was granted 5,454 shares of Koru Medical Systems, Inc. common stock in consideration for Mr. Mankos service as a Director of the Issuer for the quarter ended September 30, 2024. |
| 10/01/2024 | Date of signatures for the Form 4 filings. |
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