BEAT Form 4: 60,483 RSUs Granted to Director, $1.65 Option Disclosed
Rhea-AI Filing Summary
HeartBeam, Inc. (BEAT) reporting person George de Urioste disclosed changes in beneficial ownership on 07/11/2025. The filing shows a disposition of 57,146 shares of common stock and a grant of 60,483 restricted stock units (RSUs) that vest 100% on the earlier of 07/11/2026 or the company's 2026 annual meeting, subject to continued service as an Outside Director. The report also lists a derivative position: a special option with a $1.65 exercise price covering 45,454 shares (total underlying common stock shown as 89,454 following the transactions). The RSUs do not expire; the option has exercise and vesting timing described in remarks.
Positive
- 60,483 RSUs granted that vest 100% by 07/11/2026, aligning director incentives with continued service
- Special option disclosed with a $1.65 exercise price and staged vesting, indicating equity retention mechanism
Negative
- 57,146 shares disposed (reported as a disposition), reducing immediate beneficial ownership
- Potential dilution from RSUs and options totaling 60,483 RSU rights and 45,454 option shares underlying common stock
Insights
Insider received time‑based equity and disposed of existing shares; vesting ties retention to board service.
What it means: The reporting person was granted 60,483 RSUs that vest on 07/11/2026 or at the 2026 annual meeting if he remains an Outside Director, aligning compensation with continued board service.
Why it matters: Time‑based RSUs signal retention incentives for a director rather than immediate cash compensation. The disclosed 57,146 share disposition is a realized change in ownership that may affect short‑term share alignment but is explicitly recorded in the filing.
The filing also documents a special option with a $1.65 exercise price covering 45,454 shares with staged vesting; all terms are described in the form's remarks.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Award | -- | -- | -- |
| holding | Common Stock (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- These securities are restricted stock units (RSUs) granted on July 11, 2025. Each RSU represents a contingent right to receive one share of Common Stock of the Issuer. 100% of the RSUs shall vest on the earlier of July 11, 2026, or the date of the Issuer's 2026 annual meeting of stockholders, subject to the Reporting Person continuing to be an Outside Director (as defined in the Issuer's 2022 Equity Inventive Plan) through the applicable vesting date. RSUs do not expire, they either vest or are canceled prior to vesting date Granted options on September 30, 2025, one half of the total number of Shares subject to the Special Option shall vest on the three-month anniversary of the vesting commencement date (July 1, 2025) and the remaining Shares shall vest on the six-month anniversary of the vesting commencement date. These options have been issued from the Company's 2022 Equity Incentive Plan.
