CorMedix (CRMD) Form 4: 69,686 RSUs Awarded to COO Hurlburt

Rhea-AI Filing Summary

Elizabeth Hurlburt, Chief Operating Officer of CorMedix Inc. (CRMD), was granted 69,686 restricted stock units on 08/29/2025. Each unit represents one share and the grant price is listed as $0. The RSUs vested one-quarter on the grant date and vest in three additional equal annual installments, subject to continued employment. Following the reported transaction, Ms. Hurlburt beneficially owned 185,414 shares. The Form 4 was signed by Ms. Hurlburt on 09/03/2025.

Positive

• 69,686 restricted stock units granted to the Chief Operating Officer, providing clear disclosure of an equity-based compensation event.
• Immediate partial vesting (1/4 on grant date) increases the executive's current economic stake and aligns short-term incentives.
• Detailed vesting schedule disclosed: 1/4 at grant, then 1/4 on each of the next three anniversaries, subject to continued employment.
• Beneficial ownership after grant disclosed as 185,414 shares, improving transparency for investors.

Negative

• None.

Insights

Financial Analyst

TL;DR: A routine executive equity grant: 69,686 RSUs with immediate partial vesting increases insider stake to 185,414 shares.

The filing documents a standard compensation-related grant to the COO rather than an open-market purchase or sale. The RSU grant of 69,686 units vests 25% on the grant date and the remainder over three years, which creates staged equity-based compensation expense and ties pay to retention. The grant price is reported as $0, indicating these are restricted stock units convertible to common shares rather than a cash purchase. For investors, this is a common corporate practice to retain and incentivize management; it does not disclose any material cash flow impact or changes to outstanding option pools beyond the number of units granted.

Corporate Governance Expert

TL;DR: Governance action appears routine: officer received time-based RSUs with standard multi-year vesting.

The Form 4 shows the COO was granted time-vesting restricted stock units with a 1/4 immediate vest and 1/4 annual vesting thereafter for three years, subject to continued employment. This structure is consistent with retention-focused executive compensation practices and creates a clear vesting schedule disclosed to shareholders. The filing lists beneficial ownership after the grant as 185,414 shares, providing transparency on insider holdings. The document does not include committee approvals, plan identifiers, or details on potential acceleration conditions, which would require review of related proxy or compensation plan documents for full governance context.

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

OMB APPROVAL

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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^*

Hurlburt Elizabeth

(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 Operating 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)	185,414	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 shares represent restricted stock units granted on 08/29/2025. Each restricted stock unit represents the right to receive one share of CorMedix Inc. common stock. These restricted stock units vested 1/4 on the date of grant, and, subject to continued employment, 1/4 on the first anniversary of the date of grant, 1/4 on the second anniversary of the date of grant and 1/4 on the third anniversary of the date of grant.

	/s/ Elizabeth Hurlburt	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 Elizabeth Hurlburt report on Form 4 for CRMD?

She reported a grant of 69,686 restricted stock units on 08/29/2025, with 1/4 vested on the grant date and the remainder vesting annually over three years.

How many shares does Elizabeth Hurlburt beneficially own after the reported transaction?

The Form 4 states she beneficially owned 185,414 shares following the reported transaction.

What is the reported price for the RSU grant on the Form 4?

The transaction is recorded with a price of $0, reflecting that these are restricted stock units convertible into shares rather than a purchased security.

When was the Form 4 signed by the reporting person?

The Form 4 was signed by Elizabeth Hurlburt on 09/03/2025.

What is the vesting schedule for the restricted stock units?

Vesting is 1/4 on the grant date, then 1/4 on each of the first, second and third anniversaries of the grant date, subject to continued employment.