IRADIMED (IRMD) CEO Roger Susi Reports 10b5-1 Stock Sales
Rhea-AI Filing Summary
Roger E. Susi, CEO, President and Chairman of IRADIMED CORP (IRMD), reported sales of common stock on 09/17/2025 under a Rule 10b5-1 trading plan adopted 06/16/2025. The filing shows 3,454 shares sold at a weighted average price of $71.0016 and 1,546 shares sold at a weighted average price of $71.8808, executed in multiple trades with price ranges disclosed. After these dispositions, aggregate beneficial ownership reported across related trusts and accounts totals 2,062,500 shares directly and 2,359,046/2,357,500 shares indirectly as stated, with a disclaimer limiting claimed beneficial ownership. The form is signed 09/18/2025.
Positive
- Sales executed under a Rule 10b5-1 trading plan, which provides pre-arranged trading and enhances defensibility against allegations of opportunistic timing
- Weighted average prices and execution price ranges disclosed, increasing transparency about how the trades were executed
Negative
- Officer/Director sold shares (total 5,000 shares), which investors may view as a signal despite the 10b5-1 plan context
Insights
TL;DR: Insider sales were executed under a pre-established 10b5-1 plan; ownership remains concentrated across related trusts.
The reported sales are modest in absolute terms (total 5,000 shares) relative to the large indirect and direct holdings disclosed. Execution under a Rule 10b5-1 plan indicates a pre-arranged schedule, which limits contemporaneous trading inference. The filing includes weighted average prices and price ranges, adding transparency about execution. The reporting person’s disclaimer about beneficial ownership suggests complex family/trust ownership structures remain material to overall control.
TL;DR: Transactions follow a documented 10b5-1 plan; related-party holdings and disclaimers merit governance clarity.
Use of a 10b5-1 plan and providing price ranges and weighted averages aligns with good disclosure practice. However, the filing reiterates indirect holdings through multiple trusts and a revocable trust, and includes an explicit disclaimer limiting asserted beneficial ownership. For governance reviewers, those ownership allocations and the ongoing officer/director status are material facts to reconcile with voting and control analyses.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 3,454 | $71.0016 | $245K |
| Sale | Common Stock | 1,546 | $71.8808 | $111K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 16, 2025. This transaction was executed in multiple trades at prices ranging from $70.46 to $71.45. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all the reported shares for purposes of Section 16 or for any other purpose. This transaction was executed in multiple trades at prices ranging from $71.47 to $72.27. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
