[Form 4] Merit Medical Systems Inc Insider Trading Activity

Rhea-AI Filing Summary

Merit Medical Systems insider transactions: The company's President and CEO, Fred P. Lampropoulos, reported multiple stock option exercises and share surrenders on 08/29/2025. He exercised 159,151 options at a $55.73 exercise price and an additional 2,000 options at $55.73, resulting in 159,151 and 2,000 underlying shares respectively that were reported as acquired. He also surrendered 124,824 shares (for payroll taxes and option payment) and his spouse surrendered 1,454 shares for the same purpose; neither surrender involved open-market sales. Post-transactions, Mr. Lampropoulos beneficially owned 1,204,779 shares directly and certain additional shares indirectly through spouse and 401(k) holdings. Several outstanding option grants with various exercise prices and vesting schedules remain.

Positive

• Large exercise of 159,151 options at $55.73 demonstrates use of equity compensation rather than cashless market sales
• No open-market sales for surrendered shares; surrenders were to the issuer for payroll taxes and option payment

Negative

• Material share surrender of 124,824 shares by the reporting person reduces his direct share count
• Potential dilution remains from multiple outstanding option tranches with various exercise prices and future vesting

Insights

Corporate Governance Expert

TL;DR: CEO exercised sizable options and surrendered shares for tax/option costs; disclosures are routine but notable for scale.

The reported exercises of 159,151 and 2,000 options at $55.73 and the surrender of 124,824 shares for payroll taxes/option payment are standard executive equity activities that reduce option overhang and increase exercised-share count. The spouse holdings are disclosed and expressly disclaimed by the reporting person. Vesting schedules for multiple option tranches remain in place, indicating continued potential future equity dilution as options vest.

Financial Analyst

TL;DR: Large option exercises change share composition but represent internal compensation mechanics, not open-market disposition.

The exercises at $55.73 and the share surrenders were not open-market sales, per the filing. Post-transaction direct beneficial ownership is 1,204,779 shares, with additional indirect holdings via spouse and a 401(k). Multiple option grants with exercise prices of $37.71, $56.25, $70.58 and vesting schedules remain outstanding, which may affect future dilution and executive incentive alignment.

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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hours per response:			0.5

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^*

Lampropoulos Fred P.

(Last) (First) (Middle)

1600 WEST MERIT PARKWAY

(Street)

SOUTH JORDAN UT 84095

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MERIT MEDICAL SYSTEMS INC [ MMSI ]

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

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

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, No Par Value								97,909	I	By 401(k) Plan(1)
Common Stock, No Par Value								90	I	By spouse as custodian for child(2)
Common Stock, No Par Value	08/29/2025		M/K		159,151	A	$55.73	1,204,779	D
Common Stock, No Par Value	08/29/2025		F/K		124,824(3)	D	$90.54	1,079,955	D
Common Stock, No Par Value	08/29/2025		M/K		2,000	A	$55.73	9,734.258	I	By spouse(2)
Common Stock, No Par Value	08/29/2025		F/K		1,454(4)	D	$90.54	8,280.258	I	By spouse

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
Non-qualified stock options (right to buy)	$55.73	08/29/2025		M/K			159,151	03/01/2020(5)	03/01/2026	Common Stock	159,151	$0	0	D
Non-qualified stock options (right to buy)	$55.73	08/29/2025		M/K			2,000	03/01/2020(6)	03/01/2026	Common Stock	2,000	$0	0	I	By spouse(2)
Non-qualified stock options (right to buy)	$37.71							02/26/2021(7)	02/26/2027	Common Stock	100,334		100,334	D
Non-qualified stock options (right to buy)	$56.25							03/19/2022(8)	03/19/2028	Common Stock	58,083		58,083	D
Non-qualified stock options (right to buy)	$70.58							02/28/2024(9)	02/28/2030	Common Stock	54,302		54,302	D

Explanation of Responses:

1. The 401(k) number represents plan holdings as of 08/29/2025.

2. Represents securities held by the spouse of the Reporting Person. The Reporting Person expressly disclaims beneficial ownership of the securities owned by his spouse.

3. The Reporting Person surrendered 124,824 shares of common stock to the Issuer for payroll taxes and payment of the option price. No shares were sold in the open market.

4. The Reporting Person's spouse surrendered 1,454 shares of common stock to the Issuer for payroll taxes and payment of the option price. No shares were sold in the open market.

5. Becomes exercisable in equal annual installments of 20% commencing 3/1/2020.

6. Original grant of 10,000 options was to become vested and exercisable in equal annual installments of 20% commencing 3/1/2020. Options not vested as of 6/22/2020 have been forfeited.

7. Becomes exercisable in equal annual installments of 25% commencing 2/26/2021.

8. Becomes exercisable in equal annual installments of 25% commencing 3/19/2022.

9. Becomes exercisable in equal annual installments of 25% commencing 2/28/2024.

	/s/ Brian G. Lloyd, Attorney-in-Fact	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 insider transactions did Fred P. Lampropoulos report for MMSI?

He reported exercising 159,151 options at an exercise price of $55.73, exercising an additional 2,000 options at $55.73, and surrendering 124,824 shares (plus spouse surrender of 1,454) for payroll taxes and option payment.

Were any shares sold in the open market according to the Form 4?

No. The filing states no shares were sold in the open market; surrendered shares were returned to the issuer for tax and option-payment obligations.

How many shares does the reporting person beneficially own after these transactions?

The filing reports 1,204,779 shares beneficially owned directly by the reporting person after the reported transactions, plus additional indirect holdings.

What outstanding option grants remain for the reporting person?

Outstanding non-qualified options include grants with exercise prices of $37.71, $56.25, and $70.58, and vesting schedules noted in the filing.

Does the reporting person claim beneficial ownership of spouse-held shares?

No. The reporting person expressly disclaims beneficial ownership of securities owned by his spouse, per the Form 4.