CorMedix Inc. — Director's Dealing 2014

Jan 10, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CorMedix Inc. (CRMD)
CIK: 0001410098
Period of Report: 2014-01-08

Reporting Person: Gelbfish Gary A. (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-01-08	Series C-3 Non-Voting Convertible Preferred Stock	$1	P	30000	Acquired		Common Stock, $0.01 par value per share (300000)	Direct
2014-01-08	Warrant (right to purchase Common Stock)	$1.25	P	150000	Acquired	2020-01-08	Common Stock, $0.001 par value per share (150000)	Direct
2014-01-08	Series C-3 Non-Voting Convertible Preferred Stock	$1	P	20000	Acquired		Common Stock, $0.01 par value per share (200000)	Indirect
2014-01-08	Warrant (right to purchase Comm Stock)	$1.25	P	100000	Acquired	2020-01-08	Common Stock, $0.001 par value per share (100000)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.001 par value per share	474382	Direct
Common Stock, $0.001 par value per share	70872	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$0.9	2023-03-20	Common Stock, $0.001 par value per share (50000)	50000	Direct
Stock Option (right to buy)	$0.68	2022-12-05	Common Stock, $0.001 par value per share (70000)	70000	Direct
Warrant (right to purchase Common Stock)	$0.4	2017-09-20	Common Stock, $0.001 par value per share (250000)	250000	Direct
Stock Option (right to buy)	$0.29	2022-01-06	Common Stock, $0.001 par value per share (30000)	30000	Direct
Stock Option (right to buy)	$2.1	2021-01-14	Common Stock, $0.00 par value per share (30000)	30000	Direct
Stock Option (right to buy)	$3.125	2020-03-30	Common Stock, $0.001 par value per share (20000)	20000	Direct
8% Noteholder Warrants	$3.4375	2016-10-29	Common Stock, $0.001 par value per share (67200)	67200	Direct
8% Noteholder Warrants	$3.4375	2016-10-29	Common Stock, $0.001 par value per share (28800)	28800	Indirect

Footnotes

F1: These options vest quarterly over two years beginning June 30, 2013.

F2: These options vest as follows: (a) fifty percent (50%) on the date of issuance of the CE Mark certification for Neutrolin in Europe, which occurred on July 5, 2013, and (b) fifty percent (50%) on December 31, 2013.

F3: The options vest in full on the first anniversary of the date of grant.

F4: Includes (i) 94,496 shares of our common stock held jointly by Dr. Gelbfish and his wife, and (ii) 70,872 shares of our common stock held by Dr. Gelbfish as custodian for certain of his children.

F5: Held by Landmark Foundation, of which Dr. Gelbfish and his wife are trustees.

F6: These options vest on January 14, 2012.

F7: These options vest as follows: 1/3 on March 30, 2010; an additional 1/3 on March 30, 2011; and the remaining 1/3 on March 30, 2012.

F8: These warrants became exercisable upon the consummation of the Company's initial public offering.

F9: Includes 8% Noteholder Warrants held by Dr. Gelbfish and his wife jointly, that are exercisable for 38,400 shares of common stock, and 8% Noteholder Warrants held by Dr. Gelbfish as custodian for certain of his children that are exercisable for 28,800 shares of common stock.

F10: On September 20, 2012, the reporting person acquired in a private placement $100,000 of (i) 9% Senior Convertible Notes, convertible into shares of the Company's Common Stock, $0.001 par value per share, at a conversion price of $0.35 per share, which were converted on September 20, 2013; and (ii) a five-year redeemable warrant to purchase common stock at an exercise price of $0.40 per share.

F11: On January 8, 2014, the reporting person acquired in a private placement (i) 30,000 shares of the Company's Series C-3 Non-Voting Convertible Preferred Stock, each share is convertible into 10 shares of Common Stock, $0.001 par value per share at a conversion price of $1.00 per share; and (ii) a five-year warrant to purchase common stock at an exercise price of $1.25 per share. The Series C-3 Preferred Stock and the warrants were purchased together at a price of $10.00 per share for each share of Series C-3 Preferred Stock.

F12: On January 8, 2014, the reporting person through his ownership of his IRA account, acquired in a private placement (i) 20,000 shares of the Company's Series C-3 Non-Voting Convertible Preferred Stock, each share is convertible into 10 shares of Common Stock, $0.001 par value per share at a conversion price of $1.00 per share, and (ii) a five-year warrant to purchase common stock at an exercise price of $1.25 per share. The Series C-3 Preferred Stock and the warrants were purchased together at a purchase price of $10.00 per share for each share of Series C-3 Preferred Stock.