Neuraxis (NRXS) CMO ends option-for-RSU swap with 199K shares
Rhea-AI Filing Summary
Neuraxis, Inc. (NRXS) reported that officer Adrian Miranda, CMO and SVP Science & Tech, had existing stock options canceled and replaced with restricted stock units under the company’s 2022 Omnibus Securities and Incentive Plan. 337,204 stock options were canceled in exchange for 337,204 RSUs, which vested immediately upon grant and converted into common stock. In connection with this vesting, 138,098 shares were withheld by Neuraxis to satisfy income tax obligations, and 199,106 common shares were issued and are now held directly by Miranda.
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Insights
Analyzing...
Insider Trade Summary
Net Buyer: 199,106 shares
Net Buy
4 txns
Insider
Miranda Adrian
Role
CMO, SVP Science & Tech
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Stock Options F2 | 337,204 | $6.94 | $2.34M |
| Grant/Award | RSU F2 | 337,204 | -- | -- |
| Conversion | RSU F2 | 337,204 | -- | -- |
| Grant/Award | Common Stock F1 | 199,106 | -- | -- |
Holdings After Transaction:
Stock Options — 0 shares (Direct);
RSU — 0 shares (Direct);
Common Stock — 199,106 shares (Direct)
Footnotes (2)
- F1. Reference is made to the 337,204 restricted stock units ("RSUs") granted and vested to the Reporting Person under the NeurAxis, Inc. 2022 Omnibus Securities and Incentive Plan as discussed below, of which 138,098 shares were withheld by the Issuer to satisfy income tax withholding and remittance obligations in connection with the vesting of RSUs.
- F2. Following approval by the Company's Board of Directors and stockholders of the cancellation of stock options issued under the 2017 Innovative Health Solutions, Inc. Stock Compensation Plan and the grant of an equivalent number of RSUs under the NeurAxis, Inc. 2022 Omnibus Securities and Incentive Plan, the reporting person's stock options were canceled in exchange for an equivalent number of RSUs, which vested immediately upon grant.
Key Figures
Stock options canceled: 337,204 options
RSUs granted and vested: 337,204 RSUs
Shares withheld for taxes: 138,098 shares
+2 more
5 metrics
Stock options canceled
337,204 options
Canceled and exchanged for RSUs under board and stockholder-approved action
RSUs granted and vested
337,204 RSUs
Granted and vested immediately under Neuraxis, Inc. 2022 Omnibus Securities and Incentive Plan
Shares withheld for taxes
138,098 shares
Withheld to satisfy income tax withholding and remittance obligations on RSU vesting
Common shares issued to reporting person
199,106 shares
Common stock delivered upon RSU vesting and net of tax withholding
Resulting direct common stock holdings
199,106 shares
Shares of Neuraxis common stock held directly by Adrian Miranda after transactions
Key Terms
restricted stock units, income tax withholding, Omnibus Securities and Incentive Plan, stock options, +1 more
5 terms
restricted stock units financial
"Reference is made to the 337,204 restricted stock units ("RSUs") granted and vested"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
income tax withholding financial
"138,098 shares were withheld by the Issuer to satisfy income tax withholding"
Omnibus Securities and Incentive Plan financial
"under the NeurAxis, Inc. 2022 Omnibus Securities and Incentive Plan"
stock options financial
"cancellation of stock options issued under the 2017 Innovative Health Solutions, Inc."
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
vested immediately upon grant financial
"an equivalent number of RSUs, which vested immediately upon grant"
FAQ
What equity award changes did NRXS report for Adrian Miranda on this Form 4?
Neuraxis (NRXS) reported that 337,204 stock options held by Adrian Miranda were canceled and replaced with 337,204 restricted stock units (RSUs) under the 2022 Omnibus Securities and Incentive Plan, which vested immediately and converted into common stock.
How many NRXS stock options were canceled in this transaction?
Neuraxis reported that 337,204 stock options issued under the 2017 Innovative Health Solutions, Inc. Stock Compensation Plan were canceled for Adrian Miranda, in exchange for an equivalent number of RSUs under the Neuraxis, Inc. 2022 Omnibus Securities and Incentive Plan.
Were Adrian Miranda’s NRXS equity transactions made under a Rule 10b5-1 plan?
No. The filing’s Rule 10b5-1 checkbox indicates no Rule 10b5-1 trading plan for these transactions, and the footnotes describe board- and stockholder-approved option cancellation and RSU grants rather than plan-based market trades.
What plan governs the new RSUs reported for NRXS officer Adrian Miranda?
The new RSUs for Adrian Miranda were granted under the Neuraxis, Inc. 2022 Omnibus Securities and Incentive Plan, following cancellation of stock options that were originally issued under the 2017 Innovative Health Solutions, Inc. Stock Compensation Plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
