Form 4: KORU Medical Systems Director Receives Stock Grant for Board Service

Joseph M. Manko, Jr., a director of KORU Medical Systems, received 5,545 shares of common stock for his service as a director for the quarter ended June 30, 2024.

Summary

• Joseph M. Manko, Jr., a director of KORU Medical Systems, Inc., received 5,545 shares of common stock on July 11, 2024.
• The shares were granted to Horton Capital Partners Fund, LP (HCPF) in consideration for Mr. Manko's service as a Director of the Issuer for the quarter ended June 30, 2024.
• Following the transaction, Horton Capital Partners Fund, LP beneficially owns 7,600,254 shares of KORU Medical Systems, Inc.
• The Form 4 is filed jointly by Horton Capital Management, LLC (HCM), Horton Capital Partners, LLC (HCP), HCPF, and Joseph M. Manko, Jr.
• HCM maintains investment and voting power with respect to shares of Common Stock of the Issuer held by HCPF.
• HCP may be deemed to be the beneficial owner of such Common Stock because, in the event HCM's investment advisory agreement with respect to such Common Stock is terminated, HCP has the right to assume HCM's discretionary investment and voting authority with respect to such Common Stock.
• HCP is the general partner of HCPF.
• Mr. Manko is the managing member of both HCM and HCP.
• 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.

Sentiment

Score: 5

Explanation: Neutral sentiment as it reports a routine transaction related to director compensation.

Positives

• The receipt of stock grants can align the interests of directors with those of shareholders.

Industry Context

This is a standard practice for compensating board members, aligning their interests with the company's performance.

Comparison to Industry Standards

• Stock grants to directors are a common form of compensation in publicly traded companies.
• The amount of stock granted can vary widely depending on the company's size, industry, and compensation policies.
• Comparing the value of the grant to those of directors at similar-sized medical device companies would provide context.

Stakeholder Impact

• The stock grant dilutes existing shareholders' equity slightly.

Key Dates