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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-24	Common Stock	A	40625	—	Acquired	184207	Direct
2017-02-24	Common Stock	A	18700	—	Acquired	389907	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	112000	Acquired	2027-02-24	Common Stock (112000)	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: Includes (i) 40,625 restricted stock units granted on February 24, 2017 and reported on this Form 4, (ii) 26,000 restricted stock units granted on June 7, 2016, subject to vesting in accordance with the schedule set forth in (1) above and (iii) 117,582 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) 18,700 restricted stock units granted on February 24, 2017 and reported on this Form 4, (ii) 57,000 restricted stock units granted on June 7, 2016, subject to vesting in accordance with the schedule set forth in (3) above, (iii) 130,000 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: 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.