4/A: OptimizeRx CFO Corrects Previous SEC Filing Regarding Tax Withholding

Edward Stelmakh, CFO/COO of OptimizeRx Corp, files an amendment to a previous Form 4 to correct an overstatement of shares withheld for tax obligations.

Summary

• Edward Stelmakh, CFO/COO of OptimizeRx Corp, filed an amended Form 4 with the SEC.
• The amendment corrects a previous filing from March 29, 2023, which overstated the number of shares withheld by the issuer to satisfy the reporting person's tax withholding obligations.
• The original filing incorrectly stated that 6,539 shares were withheld, while the correct number was 3,539 shares.
• This correction also impacts subsequent Form 4 filings, which will be corrected in future filings.
• The corrected filing shows that Stelmakh beneficially owns 7,682 shares of common stock following the reported transaction.

Sentiment

Score: 7

Explanation: The document is a routine correction of a previous error in an SEC filing. While it indicates a past mistake, the correction itself is a positive step towards ensuring accurate reporting and compliance.

Negatives

• A previous SEC filing (Form 4) contained an error regarding the number of shares withheld for tax obligations.

Risks

• Inaccurate reporting in SEC filings can lead to compliance issues and potential regulatory scrutiny.

Industry Context

This is a routine correction of an SEC filing, which is common in the corporate world. It highlights the importance of accurate record-keeping and compliance with regulatory requirements.

Comparison to Industry Standards

• Corrections to SEC filings are not uncommon across the industry.
• Companies like Veeva Systems and Teladoc Health, which operate in similar healthcare technology spaces, also occasionally file amendments to their SEC forms to correct errors or update information.
• The frequency and nature of these corrections are generally consistent with industry standards for regulatory compliance.

Stakeholder Impact

• The correction ensures that shareholders and potential investors have accurate information regarding insider transactions and beneficial ownership.

Next Steps

• OptimizeRx will correct any subsequent Form 4 filings affected by the initial error.

Key Dates