Cytosorbents Corp — Director's Dealing 2017

Feb 28, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Cytosorbents Corp (CTSO)
CIK: 0001175151
Period of Report: 2017-02-24

Reporting Person: BLOCH KATHLEEN P. (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-24	Common Stock	A	32813	—	Acquired	55938	Direct
2017-02-24	Common Stock	A	15700	—	Acquired	228638	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-24	Stock Option (right to buy)	$5.60	A	89000	Acquired	2027-02-24	Common Stock (89000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8000	Indirect

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: Includes (i) 32,813 restricted stock units granted on February 24, 2017 and reported on this Form 4, (ii) 21,000 restricted stock units granted on June 7, 2016, subject to vesting in accordance with the schedule set forth in (1) above and (iii) 2,125 shares of common stock owned by the reporting person.

F3: 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.

F4: Includes (i) 15,700 restricted stock units granted on February 24, 2017 and reported on this Form 4, (ii) 47,000 restricted stock units granted on June 7, 2016, subject to vesting in accordance with the schedule set forth in (3) above, (iii) 110,000 restricted stock units granted on April 8, 2015, subject to vesting in accordance with the schedule set forth in (3) above and (iv) the restricted stock units described in (2) above.

F5: These shares are held by the reporting person's husband in a 401(k) account, and as such, the reporting person may be deemed the beneficial owner of such shares.

F6: 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.