Chan Phillip P. 4

What Happened Phillip P. Chan, CEO of Cytosorbents Corporation (CTSO), made two open-market purchases totaling 261,469 shares. On 2026-06-12 he purchased 251,136 shares at a weighted-average price of $0.40 for about $100,454; on 2026-06-15 he purchased 10,333 shares at a weighted-average price of $0.43 for about $4,443. These were purchases (insider buys), which investors often view as a more informative signal than routine insider sales.

Key Details

• Transaction types: Open-market purchases (reporting code P).
• Dates & prices:
  • 2026-06-12: 251,136 shares, weighted avg $0.40 (actual trades ranged $0.3885–$0.40) — $100,454.
  • 2026-06-15: 10,333 shares, weighted avg $0.43 (actual trades ranged $0.4307–$0.4388) — $4,443.
• Total shares bought: 261,469; total cash spent: $104,897 (per Form 4).
• Shares owned after transaction (per filing): 1,422,832 shares of Common Stock.
• Notable footnotes:
  • Footnotes indicate the reported prices are weighted averages and the filer can provide a per-trade breakdown on request (F1, F4).
  • The filing discloses multiple outstanding RSUs that may convert to shares upon certain events: 10,300 (3/15/2018), 18,700 (2/24/2017), 57,000 (6/7/2016), 130,000 (4/8/2015) — vesting on a Change in Control (F2), plus 105,600 RSUs granted 8/8/2025 with time-based vesting (F3).
• Filing timeliness: Form 4 was filed on 2026-06-15 for transactions on 2026-06-12 and 2026-06-15; no late filing was indicated.

Context These purchases were open-market buys (not option exercises or gifts), so the CEO directly increased his equity stake. The filing provides both weighted-average prices and the ranges of execution prices; it does not state any trading plan (e.g., 10b5-1). Investors should treat insider purchases as one data point and consider company fundamentals and broader market context before drawing conclusions.