SERBIN RICHARD S 4

What Happened
Richard Serbin, a director of Co-Diagnostics, received 1,695 shares through the vesting/conversion of restricted stock units (RSUs) on May 23, 2026. The reported acquisition and conversion show a $0 per-share price (no cash paid), consistent with RSU vesting rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-23. Filing date: 2026-05-27 (filed four days after the transaction; may be later than the typical 2-business-day reporting window).
• Reported transactions: A (award/acquisition) of 1,695 shares @ $0.00 and M (exercise/conversion of derivative) of 1,695 shares @ $0.00. Reported dollar values are $0.
• Shares owned after transaction: Not specified in the provided filing.
• Footnote: These shares are part of prior RSU grants — 2,334 RSUs granted 6/12/2023 (vesting in six equal installments every six months starting 11/23/2023), 3,667 RSUs granted 4/26/2024 (vesting in six equal installments every six months starting 11/23/2024), and 4,167 RSUs granted 8/13/2025 (vesting in six equal installments every six months starting 11/23/2025).

Context
The "M" code indicates conversion/exercise of a derivative instrument — in this case RSUs converting into common shares upon vesting. Because RSUs typically convert without a cash exercise price, the transaction shows $0 paid and does not represent a market purchase or sale. Awards and vesting events are routine compensation actions and should be interpreted differently from open-market purchases (which may signal a bullish view) or sales (which may signal liquidity needs).