Form 4: CRMD Director Reports 13,333-Share Acquisition and Option Details

Rhea-AI Filing Summary

CorMedix Inc. director Gregory Scott Duncan reported insider transactions on 09/16/2025. The filing shows an acquisition of 13,333 shares of common stock at $8.32 per share, bringing his total common stock beneficially owned to 38,333 shares. The report also lists a derivative transaction showing 13,333 stock options with an $8.32 exercise price, exercisable beginning 01/10/2031, and 6,667 derivative shares beneficially owned following the transaction. The form notes these options were granted 01/11/2021 and vest monthly with full vesting after one year, subject to continued board service.

Positive

• Reporting person is a director, and the Form 4 discloses detailed holdings and transactions as required
• Acquisition of 13,333 common shares at $8.32 is explicitly reported, with post-transaction ownership of 38,333 shares

Negative

• None.

Insights

Securities Analyst

TL;DR: Director reported an exercise/acquisition of 13,333 shares and holds additional options and shares.

The Form 4 documents a non-derivative acquisition of 13,333 common shares at $8.32 and shows outstanding derivative exposure via 13,333 options at the same $8.32 strike. Post-transaction beneficial ownership totals are stated as 38,333 common shares and 6,667 derivative shares. The filing includes the original grant date and vesting schedule for the options (01/11/2021, monthly vesting, full vesting after one year subject to continued service), which explains the provenance of the derivative rights. This is a routine disclosure of insider holdings and option details required under Section 16.

Corporate Governance Expert

TL;DR: Routine Section 16 Form 4 disclosure of a director's share acquisition and option holdings.

The report is limited to standard Section 16 reporting items: reporting person identity and address, relationship to issuer (director), transaction dates, quantities, prices, and vesting explanation for previously granted options. It confirms the director is the reporting person and that the option grant referenced was dated 01/11/2021 with monthly vesting. No additional governance events or departures are disclosed in this filing.

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).

1. Name and Address of Reporting Person^*

Duncan Gregory Scott

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

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	09/16/2025		M		13,333	A	$8.32	38,333	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
Stock Option (Right to Buy Common Stock)	$8.32	09/16/2025		M			13,333	(1)	01/10/2031	Common Stock	13,333	$0	6,667	D

Explanation of Responses:

1. These options were granted on 1/11/2021. The options vest monthly with full vesting on the one year anniversary of the date of grant, subject to continued service on the board.

	/s/ Gregory Scott Duncan	09/18/2025
	** 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 CorMedix director Gregory Scott Duncan report on Form 4 (CRMD)?

He reported an acquisition of 13,333 common shares at $8.32 per share on 09/16/2025 and disclosed related option holdings.

How many CorMedix shares does the reporting person own after the transaction?

The filing shows 38,333 shares of common stock beneficially owned following the reported transaction.

What derivative securities were reported for CRMD?

The Form 4 lists 13,333 stock options with an $8.32 exercise price and 6,667 derivative shares beneficially owned following the transaction; the options were granted 01/11/2021.

When do the reported options become exercisable and what is the expiration?

The filing lists 01/10/2031 as the date related to the option schedule; the options were granted 01/11/2021 and vest monthly with full vesting after one year, per the explanation in the form.

What is the reporting person's relationship to CorMedix?

The form indicates the reporting person is a Director of CorMedix Inc.