Form 4: Co-Diagnostics, Inc. (CODX), Benson Reed L, transaction 11/25/2020

Summary

This Form 4 for Co-Diagnostics, Inc. is filed by BENSON REED L, CFO and Secretary. It reports that on November 25, 2020 the reporting person exercised (code M) a Non-Qualified Stock Option for 100,000 shares at $1.1, the issuer withheld 10,476 shares (code F), and 89,524 shares were sold (code S) at $10.5, leaving 0 shares and 25,000 options. A footnote says the option was granted September 3, 2019 under the 2015 Long-Term Incentive Plan, as amended, for up to 125,000 shares, and that 100,000 of the options have vested. The withheld shares funded a cashless exercise at a market price of $10.50 less the $1.10 exercise price. It is signed /s/ Reed L. Benson on November 30, 2020.

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Full text

SEC Form 4

FORM 4 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 | OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5 | OMB APPROVAL | OMB Number: 3235-0287 Estimated average burden hours per response: 0.5 | OMB Number: | 3235-0287 | Estimated average burden | hours per response: | 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person * BENSON REED L (Last) (First) (Middle) 2401 S. FOOTHILL DRIVE SUITE D (Street) SALT LAKE CITY UT 84109 (City) (State) (Zip) | BENSON REED L | (Last) | (First) | (Middle) | 2401 S. FOOTHILL DRIVE SUITE D | SALT LAKE CITY | UT | 84109 | (City) | (State) | (Zip) | 2. Issuer Name and Ticker or Trading Symbol Co-Diagnostics, Inc. [ CODX ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) CFO and Secretary | Director | 10% Owner | X | Officer (give title below) | Other (specify below) | CFO and Secretary
3. Date of Earliest Transaction
 (Month/Day/Year) 11/25/2020
4. If Amendment, Date of Original Filed
 (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person | X | Form filed by One Reporting Person | Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr.
 3) | 2. Transaction Date
 (Month/Day/Year) | 2A. Deemed Execution Date, if any
 (Month/Day/Year) | 3. Transaction Code (Instr.
 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr.
 3, 4 and 5) | 5.
 Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr.
 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr.
 4) | 7. Nature of Indirect Beneficial Ownership (Instr.
 4)
Code | V | Amount | (A) or (D) | Price
Common Stock | 11/25/2020 | M | 100,000 | A | $ 1.1 | 100,000 | D
Common Stock | 11/25/2020 | F | 10,476 (2) | D | $ 1.1 | 89,524 | D
Common Stock | 11/25/2020 | S | 89,524 (3) | D | $ 10.5 | 0 | D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr.
 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date
 (Month/Day/Year) | 3A. Deemed Execution Date, if any
 (Month/Day/Year) | 4. Transaction Code (Instr.
 8) | 5.
 Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr.
 3, 4 and 5) | 6. Date Exercisable and Expiration Date
 (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr.
 3 and 4) | 8. Price of Derivative Security (Instr.
 5) | 9.
 Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr.
 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr.
 4) | 11. Nature of Indirect Beneficial Ownership (Instr.
 4)
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares
Non-Qualified Stock Option (right to buy) | $ 1.1 | 11/25/2020 (1) | M | 100,000 | (2) | 09/02/2029 | Common Stock | 100,000 | $ 0.00 | 25,000 | D
Explanation of Responses:
1. Non-Qualified Stock Option granted to Reporting Person on September 3, 2019 pursuant to the Issuer's 2015 Long-Term Incentive Plan, as amended, to purchase up to 125,000 shares of common stock of the Issuer and previously reported on a Form 4 filed with the Commission on November 15, 2019.
2. 100,000 of the Options have vested.
3. Reflects 10,476 shares withheld by the Issuer at the market price of $10.50 per share less the exercise price of $1.10 per share to fund the cashless exercise of 100,000 options owned by the Reporting Person.
/s/ Reed L. Benson | 11/30/2020
** Signature of Reporting Person | Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
 4

 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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