CRMD Insider Filing: CFO Susan Blum Receives 69,686 RSUs with Multi-Year Vesting

Rhea-AI Filing Summary

Susan Blum, Chief Financial Officer of CorMedix Inc. (CRMD), was granted 69,686 restricted stock units (RSUs) on 08/29/2025. Each RSU converts to one share of common stock and the award was recorded at a $0 price, indicating a service-based grant rather than a purchase. The RSUs vest in four equal installments on the first four anniversaries of the grant date, contingent on continued employment. Following the grant, Ms. Blum beneficially owns 69,686 shares directly as reported on the Form 4. The filing is signed by Ms. Blum on 09/03/2025 and lists her role as Chief Financial Officer.

Positive

• Grant of 69,686 RSUs to the CFO is explicitly disclosed, providing transparency on senior executive compensation
• Four-year, equal annual vesting aligns executive incentives with long-term shareholder interests and supports retention

Negative

• None.

Insights

Financial Analyst

TL;DR: A sizable RSU award of 69,686 shares aligns CFO pay with shareholder value through multi-year vesting.

The grant of 69,686 RSUs represents a material compensation event for a senior officer at CorMedix and will vest over four years, which typically incentivizes retention and performance alignment. The $0 price reflects a standard equity grant rather than a purchase. For modeling compensation expense, treat this as an equity-based long-term incentive that will be recognized over the four-year vesting period subject to service conditions. No cash consideration or option exercise terms are disclosed.

Corporate Governance Expert

TL;DR: Multi-year RSU vesting is a common retention mechanism and is clearly disclosed here.

The Form 4 discloses a straightforward restricted stock unit grant to the CFO with equal annual vesting over four years, which is consistent with typical corporate governance practices for executive compensation. The direct beneficial ownership post-grant is reported as 69,686 shares. The filing contains the required signature and basic issuer and reporting person details; no additional governance concerns or related-party disclosures are included in this document.

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^*

Blum Susan

(Last) (First) (Middle)

C/O CORMEDIX INC.

300 CONNELL DRIVE, SUITE 4200

(Street)

BERKELEY HEIGHTS NJ 07922

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CorMedix Inc. [ CRMD ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

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
Common Stock	08/29/2025		A		69,686	A	$0(1)	69,686	D

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

Explanation of Responses:

1. These Restricted Stock Units were granted on 08/29/2025. Each restricted stock unit represents the right to receive one share of CorMedix Inc. common stock. The restricted stock units vest over four years in four equal installments on the first four anniversaries of the grant date, subject to continued employment through the applicable vesting date.

	/s/ Susan Blum	09/03/2025
	** 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 Susan Blum (CRMD) receive on 08/29/2025?

She was granted 69,686 restricted stock units (RSUs), each convertible into one share of CorMedix common stock.

How do the RSUs awarded to Susan Blum vest?

The RSUs vest in four equal installments on each of the first four anniversaries of the 08/29/2025 grant date, subject to continued employment.

Did Susan Blum pay for the RSUs reported on Form 4?

No cash price was paid for the award as the Form 4 reports a price of $0, indicating a granted award.

How many shares does Susan Blum beneficially own after the transaction?

69,686 shares are reported as beneficially owned following the reported transaction.

When was the Form 4 signed by the reporting person?

The Form 4 was signed on 09/03/2025 by Susan Blum.