Form 4: MMSI Executive Chairman Sells Shares Under 10b5-1 Plan

Merit Medical Systems' Executive Chairman, Fred P. Lampropoulos, reported the sale of 10,000 shares of common stock for approximately $880,377 under a pre-arranged trading plan.

Summary

• Fred P. Lampropoulos, Executive Chairman and Director of Merit Medical Systems Inc. (MMSI), reported a transaction on November 25, 2025.
• The transaction involved the sale of 10,000 shares of MMSI common stock.
• The shares were sold at a weighted average price of $88.0377 per share, with individual transactions ranging from $88.00 to $88.175.
• The total value of the shares sold was approximately $880,377.
• Following the sale, direct beneficial ownership of common stock by Mr. Lampropoulos stands at 1,019,955 shares.
• Indirect beneficial ownership includes 8,280.258 shares held by his spouse, 98,132 shares in a 401(k) Plan (as of October 31, 2025), and 90 shares held by his spouse as custodian for a child.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-scheduled sale.
• Mr. Lampropoulos also holds non-qualified stock options for 100,334 shares (exercisable from February 26, 2021, at $37.71), 58,083 shares (exercisable from March 19, 2022, at $56.25), and 54,302 shares (exercisable from February 28, 2024, at $70.58).

Sentiment

Score: 5

Explanation: A neutral score is assigned because while an insider sale can sometimes be perceived negatively, this transaction was executed under a Rule 10b5-1 plan, suggesting it was pre-scheduled and not necessarily indicative of a change in management's outlook on the company's future performance. The insider retains significant direct and indirect holdings.

Negatives

• Executive Chairman sold 10,000 shares of common stock, potentially signaling a reduction in direct insider exposure, although the sale was part of a Rule 10b5-1 plan.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders may note the reduction in direct holdings by a key executive, though the Rule 10b5-1 plan context mitigates immediate concerns about management confidence.

Key Dates

Recommendation

The filing reports a routine insider sale executed under a Rule 10b5-1 plan, which typically indicates a pre-scheduled transaction for diversification or liquidity rather than a signal of deteriorating company fundamentals. The Executive Chairman retains substantial direct and indirect beneficial ownership, including significant derivative securities. Without additional information on company performance or market conditions, this transaction alone does not warrant a change from a 'hold' position.

Keywords

Merit Medical Systems, MMSI, Insider Trading, Form 4, Stock Sale, Executive Chairman, Fred P. Lampropoulos, Rule 10b5-1, Medical Devices