CorMedix (CRMD) Director Janet Dillione Converts 48,909 Phantom Units

What Happened
Janet Dillione, a director of CorMedix, had 48,909 derivative units converted into 48,909 shares of common stock on September 18, 2026. The Form 4 reports an "exercise/conversion of derivative" (code M) resulting in acquisition of the shares; no sale was reported and no per-share price or total value was disclosed.

Key Details

• Transaction date: 2026-09-18 (reported on the same day). Transaction code: M (exercise/conversion of derivative).
• Shares acquired: 48,909 common shares. Disposition entry also appears reflecting termination of the derivative; no cash or sale price reported.
• Shares owned after transaction: Not reported on the filing.
• Footnote: The reporting person’s phantom stock units (each equal to one share) were settled into an equal number of common shares in connection with termination of the CorMedix Deferred Compensation Plan for Directors. The plan was terminated Sept 17, 2025; units were settled Sept 18, 2026.
• Filing timeliness: Reported same day (timely filing).

Context
This was a conversion/settlement of phantom stock units into shares as part of the wind-up of a directors’ deferred compensation plan—not an open-market buy or sale. Such settlements increase an insider’s reported holdings but reflect plan mechanics rather than an independent purchase decision; there is no reported immediate sale.