Cytosorbents Corp — Director's Dealing 2015

Apr 11, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Cytosorbents Corp (CTSO)
CIK: 0001175151
Period of Report: 2015-04-08

Reporting Person: Chan Phillip P. (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-04-08	Common Stock	A	130000	—	Acquired	130000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-04-08	Stock Option (right to buy)	$8.07	A	70000	Acquired	2025-04-08	Common Stock (70000)	Direct

Footnotes

F1: These shares represent restricted stock units and will be settled into common stock upon vesting upon a "Change In Control" of CytoSorbents Corporation as defined in the CytoSorbents Corporation 2014 Long-Term Incentive Plan.

F2: Such options were granted pursuant to the CytoSorbents Corporation 2014 Long-Term Incentive Plan, 45% of which vest upon achieving 2015 budgeted revenues and not exceeding budgeted operating expenses; 30% of which vest upon achievement of multiple clinical trial objectives in calendar year 2015, as determined in the discretion of the Board of Directors; 15% of which vests upon demonstration of reasonable progress in the U.S. regulatory approval of one of CytoSorbents Corporation's products, as determined in the discretion of the Board of Directors; and 10% of which vests upon achievement of one or more new major strategic partnerships, as determined in the discretion of the Board of Directors.