BEAT insider filing: 106,825 Trust Shares; 45,454 Options at $1.65
Rhea-AI Filing Summary
Willem Elfrink, a director of HeartBeam, Inc. (BEAT), reported transactions dated 07/11/2025 on a Form 4 filed for changes in beneficial ownership. The filing shows 106,825 shares held indirectly by the Elfrink Living Trust and a reported disposition of 351,167 shares of Common Stock. The reporting person received 60,483 restricted stock units (RSUs) on 07/11/2025, which vest 100% on the earlier of 07/11/2026 or the company's 2026 annual meeting if he remains an Outside Director. The filing also discloses stock options covering 45,454 shares with a stated exercise price of $1.65; the explanatory text references a grant on 09/30/2025 and vesting tied to a 07/01/2025 commencement date per the company’s 2022 Equity Incentive Plan. The Form is signed by Mr. Elfrink on 10/02/2025.
Positive
- 60,483 RSUs granted to the reporting director, vesting by 07/11/2026, aligning compensation with continued service
- 45,454 option shares issued at an exercise price of $1.65 under the 2022 Equity Incentive Plan, indicating retention incentives
Negative
- 351,167 shares disposed by the reporting person, a sizable transaction relative to reported holdings
- Ownership reduced to 106,825 indirect shares held in the Elfrink Living Trust following reported activity
Insights
Insider reported a large disposition plus equity grants tied to director service.
The Form 4 shows a disposition of 351,167 shares and indirect ownership of 106,825 shares via the Elfrink Living Trust; both items are explicitly disclosed on the form. This simultaneous large sale and new equity grants are both reportable events under Section 16 and are correctly documented with transaction and signature dates.
The filing also documents 60,483 RSUs that vest on the earlier of 07/11/2026 or the 2026 annual meeting, and options covering 45,454 shares at an exercise price of $1.65, with grant/vesting dates referenced. These equity awards are typical director compensation items and are material to holder dilution and insider alignment.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Award | -- | -- | -- |
| holding | Common Stock (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- These shares are held by the Elfrink Living Trust, of which the Reporting Person is the trustee. 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.
