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KORU Medical Systems, Inc.·4

Mar 18, 4:47 PM ET

Pazdan Christopher 4

Research Summary

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Updated

KORU Medical (KRMD) COO Christopher Pazdan Exercises Derivatives, Receives RSU Awards

What Happened

  • Christopher Pazdan, Chief Operating Officer of KORU Medical Systems (KRMD), exercised/converted 5,064 derivative units on 2026-03-16 (exercise price reported $0) and had 1,628 shares withheld to satisfy tax obligations (disposed) at $4.28 per share for a tax withholding value of $6,968. On 2026-03-17 he was granted three restricted stock unit (RSU) awards totaling 109,381 units (31,226 + 31,226 + 46,929), all reported as acquisitions at $0 (derivative awards).

Key Details

  • Transaction dates and prices:
    • 2026-03-16: Exercise/conversion (code M) — 5,064 shares @ $0.00.
    • 2026-03-16: Tax withholding (code F) — 1,628 shares withheld @ $4.28 → $6,968.
    • 2026-03-17: Grants/awards (code A) — RSU awards of 31,226; 31,226; and 46,929 shares @ $0.00.
  • Shares owned after the transactions: not specified in the filing.
  • Notable footnotes:
    • F1/F3: RSUs represent contingent rights to receive one share per unit upon vesting.
    • F2: The 1,628-share disposition reflects shares withheld to satisfy tax obligations on vesting.
    • F4: One RSU award is under the 2024 Omnibus Equity Incentive Plan and vests in equal increments beginning March 17, 2027 and on successive anniversaries.
    • F5: Some units are performance-based (payable 0–150% of target depending on results as of 12/31/2028) and vest at 100% on a change in control before that date.
  • Filing timeliness: Form 4 was filed on 2026-03-18 for transactions dated 2026-03-16 and 03-17 (appears timely under Section 16 reporting deadlines).

Context

  • The exercise/conversion was recorded at $0 and the subsequent withholding indicates shares were used to cover tax liabilities rather than a cash sale of stock for proceeds to Mr. Pazdan.
  • Grants (RSUs) are awards that vest in the future (time- and/or performance-based); they do not represent immediately tradable shares until vesting and settlement occur.
  • These entries are routine insider equity compensation reporting; they document compensation-related exercises and awards rather than an open-market purchase or sale that would signal a direct buy/sell opinion.