Form 4: Co-Diagnostics, Inc. (CODX), Brown Brian Lee, transaction 11/23/2022

Summary

A Form 4 filed with the Securities and Exchange Commission by Brian L. Brown, Chief Financial Officer of Co-Diagnostics, Inc. (CODX). On 11/23/2022, 59,167 restricted stock units vested and were converted into common stock, giving the reporting person 91,423 shares directly, and 18,187 shares were then disposed of at $3.47 in a mandated sale to cover tax withholding, leaving 73,236. The explanation lists the three underlying awards under the 2015 Long Term Incentive Plan: 30,000 units on February 22, 2021, 100,000 on August 12, 2021 and 225,000 on June 6, 2022. After the vesting, 247,500 units remained. The form is signed /s/ Brian L. Brown and dated the same day.

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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 * Brown Brian Lee (Last) (First) (Middle) C/O CO-DIAGNOSTICS, INC. 2401 S. FOOTHILL DRIVE, SUITE D (Street) SALT LAKE CITY UT 84109 (City) (State) (Zip) | Brown Brian Lee | (Last) | (First) | (Middle) | C/O CO-DIAGNOSTICS, INC. | 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) Chief Financial Officer | Director | 10% Owner | X | Officer (give title below) | Other (specify below) | Chief Financial Officer
3. Date of Earliest Transaction
 (Month/Day/Year) 11/23/2022
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 | 11/23/2022 | A | 59,167 (1) | A | $ 0.00 | 91,423 | D
Common Stock | 11/23/2022 | D | 18,187 (2) | D | $ 3.47 | 73,236 | 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
Restricted Stock Units | $ 0.00 | 11/23/2022 | M | 59,167 | (1) | (1) | Common Stock | 306,667 | $ 0.00 | 247,500 | D
Explanation of Responses:
1. Included in 30,000 restricted stock units awarded to the Reporting Person on February 22, 2021, pursuant to the Co-Diagnostics, Inc. 2015 Long Term Incentive Plan, and vest in 6 equal installments every 6 months commencing on May 24, 2021.

Included in 100,000 restricted stock units awarded to the Reporting Person on August 12, 2021, pursuant to the Co-Diagnostics, Inc. 2015 Long Term Incentive Plan, and vest in 6 equal installments every 6 months commencing on November 23, 2021.

Included in 225,000 restricted stock units awarded to the Reporting Person on June 6, 2022, pursuant to the Co-Diagnostics, Inc. 2015 Long Term Incentive Plan, and vest in 6 equal installments every 6 months commencing on November 23, 2022.
2. Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSU's. This sale is mandated by the Issuer's election, under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.
Remarks:
/s/ Brian L. Brown | 11/23/2022
** 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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