[Form 4] Co-Diagnostics, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Co-Diagnostics, Inc. (CODX) director Richard S. Serbin was granted 125,000 restricted stock units (RSUs) on 08/13/2025 under the Issuer's 2015 Long Term Incentive Plan. Each RSU converts to one share of common stock on vesting; the filing shows 103,333 shares of common stock already beneficially owned and a combined total of 228,333 shares after the grant. The RSUs have a $0.00 per-share price and vest in six installments beginning 11/23/2025 and continuing every six months thereafter. The form is signed by Mr. Serbin on 08/15/2025.

Insights

Financial Analyst

TL;DR: Standard equity grant to a director that increases potential share count and aligns compensation with shareholder value.

The 125,000 RSU award is a non-cash, time-based retention tool that will convert to common shares upon vesting. Because RSUs carry no exercise price here ($0.00), dilution occurs only when shares are issued on vesting, not at grant. The vesting schedule—six installments starting 11/23/2025 every six months—spreads issuance over roughly three years, softening immediate dilution but creating a predictable future share issuance cadence. For investors, the material considerations are the grant size relative to outstanding shares (not provided) and the timing of potential dilution.

Corporate Governance Expert

TL;DR: Routine director RSU grant consistent with governance practices to retain and incentivize board members.

This grant appears to be issued under the company’s existing equity plan and follows a multi-period vesting schedule, which is typical for aligning long-term interests. The filing discloses the grant terms and vesting cadence explicitly, meeting Form 4 disclosure requirements. Absent additional context (e.g., board role change or extraordinary size relative to peers), the transaction reads as standard governance practice rather than an outlier.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SERBIN RICHARD S

(Last) (First) (Middle)

2401 S. FOOTHILL DRIVE SUITE D

(Street)

SALT LAKE CITY UT 84109

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Co-Diagnostics, Inc. [ CODX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	08/13/2025		A		125,000		(2)	(2)	Common Stock	103,333	$0.00	228,333	D

Explanation of Responses:

1. Granted pursuant to Issuer's 2015 Long Term Incentive Plan, as amended. Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting, one share of the Issuer's common stock.

2. RSU vests in 6 installments commencing on 11/23/25 and continues every 6 months thereafter.

Remarks:

	/s/ Richard Serbin	08/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Richard S. Serbin report on the Form 4 for CODX?

He reported a grant of 125,000 RSUs on 08/13/2025 and beneficial ownership of 228,333 shares after the grant.

When do the RSUs granted to Richard Serbin vest?

Vesting begins 11/23/2025 and occurs in six installments every six months thereafter.

What is the price per share for the awarded RSUs?

The RSUs show a $0.00 price; they convert to one share per RSU upon vesting.

How many shares did Mr. Serbin beneficially own after the transaction?

228,333 shares beneficially owned following the reported transaction.

When was the Form 4 signed and filed by the reporting person?

The form was signed on 08/15/2025 and the transaction date is 08/13/2025.