Cytosorbents Corp — Director's Dealing 2016

Jun 9, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Cytosorbents Corp (CTSO)
CIK: 0001175151
Period of Report: 2016-06-07

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-06-07	Common Stock	A	26000	—	Acquired	133982	Direct
2016-06-07	Common Stock	A	57000	—	Acquired	190982	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-06-07	Stock Option (right to buy)	$8.07	A	7000	Acquired	2025-04-08	Common Stock (7000)	Direct
2016-06-07	Stock Option (right to buy)	$4.69	A	97000	Acquired	2026-06-07	Common Stock (97000)	Direct

Footnotes

F1: These shares represent restricted stock units which shall vest as to one-third of the award on each of the date of grant, the first anniversary of the date of grant, and the second anniversary of the date of grant, subject to the reporting person's continued service as of the applicable vesting date, and will be settled into common stock upon vesting.

F2: 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.

F3: On April 8, 2015, the reporting person was granted an option to purchase 70,000 shares of common stock, which was to vest upon the satisfaction of certain performance criteria for the fiscal year ending December 31, 2015. The Board of Directors of CytoSorbents Corporation determined that 10% of such performance criteria was achieved during 2015, resulting in the vesting of 7,000 shares underlying this option.

F4: Such options were granted pursuant to the CytoSorbents Corporation 2014 Long-Term Incentive Plan, and shall vest upon achievement of certain performance goals as determined in the discretion of the Board of Directors of CytoSorbents Corporation.