[Form 4] electroCore, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Julie Ann Goldstein, a director of electroCore, Inc. (ECOR), reported an award of 19,011 Annual Deferred Stock Units on 09/02/2025. The units were issued at a $0.00 price and vest in 12 equal monthly installments from the grant date; they vest in full earlier if the reporting person remains in service until the close of business one business day prior to the issuer's next annual stockholder meeting or immediately prior to a change of control. Following the grant, the filing reports 101,387 shares beneficially owned, which includes 10,000 previously vested shares and 1,665 shares held in NeuroSpine Ventures for which the reporting person disclaims beneficial ownership except for pecuniary interest. The Form 4 was signed by attorney-in-fact John L. Cleary, II on 09/04/2025.

Positive

• 19,011 Annual Deferred Stock Units granted to Director Julie Ann Goldstein, clearly disclosed
• Vesting terms specified: 12 equal monthly installments with acceleration on next annual meeting or change of control
• Beneficial ownership details provided, including 10,000 previously vested shares and disclosure of 1,665 shares held in NeuroSpine Ventures

Negative

• None.

Insights

Securities Analyst

TL;DR: Director received a deferred stock unit grant for 19,011 units; routine compensation disclosure, limited immediate market impact.

The filing documents a non-cash grant of 19,011 Annual Deferred Stock Units to a director, issued at $0.00 and subject to 12-month monthly vesting with acceleration conditions tied to the next annual meeting or a change of control. The disclosure clarifies 10,000 previously vested shares and a 1,665-share position held through an entity where the director disclaims beneficial ownership, limiting direct voting influence. This is a standard director compensation event with no cash proceeds and no exercised derivatives reported.

Corporate Governance Expert

TL;DR: Standard deferred equity award for a director; disclosure contains customary vesting and beneficial ownership details.

The report provides clear terms for the Deferred Stock Units and identifies the mechanics that accelerate full vesting. It also discloses previously vested shares and the presence of shares held in an entity (NeuroSpine Ventures) where the reporting person lacks voting/dispositive power, which is an important governance clarification for ownership reporting. The filing appears complete for the transaction type reported.

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

OMB Number:			3235-0287
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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^*

Goldstein Julie Ann

(Last) (First) (Middle)

200 FORGE WAY,

SUITE 205

(Street)

ROCKAWAY NJ 07866

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
electroCore, Inc. [ ECOR ]

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)
09/02/2025

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	09/02/2025		A		19,011(1)	A	$0.00	101,387(2)(3)	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. Annual Deferred Stock Units award which vests in 12 equal monthly installments from the grant date; provided, however, that the Deferred Stock Units shall vest in full on the earlier of (i) the close of business one business day prior to the Issuer's next annual stockholder meeting following the grant date, and (ii) the date immediately prior to a change of control, in each case, provided that the Reporting Person (RP) remains in continuous service with the Issuer or an affiliate through the applicable vesting date.

2. Includes 10,000 shares that have vested pursuant to previously issued Deferred Stock Units. All such vested shares were previously reported on Form 4 filings at the time of grant.

3. Includes 1,665 shares held in NeuroSpine Ventures; an entity in which the RP has no voting or dispositive power over the shares. Accordingly, the RP disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

	/s/ John L. Cleary, II, attorney-in-fact	09/04/2025
	** 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.
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FAQ

What transaction did Julie Ann Goldstein report on Form 4 for ECOR?

The Form 4 reports an award of 19,011 Annual Deferred Stock Units granted on 09/02/2025 to Julie Ann Goldstein.

What are the vesting terms for the deferred stock units reported by the ECOR director?

The Deferred Stock Units vest in 12 equal monthly installments from the grant date and vest in full earlier if the director remains in service until the close one business day prior to the next annual stockholder meeting or immediately prior to a change of control.

How many shares does Julie Ann Goldstein beneficially own after the reported transaction?

The filing reports 101,387 shares beneficially owned following the transaction, which includes 10,000 previously vested shares.

Are there any shares held in an entity disclosed in the Form 4?

Yes, the filing includes 1,665 shares held in NeuroSpine Ventures, and the reporting person disclaims beneficial ownership except for any pecuniary interest.

Was there any cash paid for the award reported on this Form 4?

No cash was paid; the reported price for the Common Stock award is $0.00.