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Filing Details

Accession Number:: 0001415889-20-001320
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2020-05-22 18:25:37
Reporting Period:: 2020-05-20

Accepted Time:: 2020-05-22 18:25:37
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
856982	Merit Medical Systems Inc	MMSI	Surgical & Medical Instruments & Apparatus (3841)	870447695

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
901534	P Fred Lampropoulos	1600 West Merit Parkway South Jordan UT 84095	President And Ceo	No	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, No Par Value	Acquisiton	2020-05-20	5,000	$12.06	6,269	No	4	M	Indirect	By spouse
Common Stock, No Par Value	Disposition	2020-05-20	5,000	$44.00	1,269	No	4	S	Indirect	By spouse

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	Indirect	By spouse
No	4	S	Indirect	By spouse

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Non-qualified stock options (right to buy)	Disposition	2020-05-20	5,000	$0.00	5,000	$12.06

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2015-10-04	2021-10-04	No	4	M	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock, No Par Value	95,467	Indirect	By 401(k) Plan
Common Stock, No Par Value	90	Indirect	By spouse as custodian for child
Common Stock, No Par Value	967,916	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Non-qualified stock options (right to buy)	$17.27	2016-02-13	2022-02-13	5,000	5,000	Indirect
Common Stock	Non-qualified stock options (right to buy)	$16.05	2017-01-28	2023-01-28	50,000	50,000	Direct
Common Stock	Non-qualified stock options (right to buy)	$16.05	2017-01-28	2023-01-28	7,500	7,500	Indirect
Common Stock	Non-qualified stock options (right to buy)	$28.20	2018-04-14	2024-04-14	200,000	200,000	Direct
Common Stock	Non-qualified stock options (right to buy)	$28.20	2018-04-14	2024-04-14	10,000	10,000	Indirect
Common Stock	Non-qualified stock options (right to buy)	$44.80	2019-03-02	2025-03-02	38,002	38,002	Direct
Common Stock	Non-qualified stock options (right to buy)	$44.80	2019-03-02	2025-03-02	10,000	10,000	Indirect
Common Stock	Non-qualified stock options (right to buy)	$55.73	2020-03-01	2026-03-01	159,151	159,151	Direct
Common Stock	Non-qualified stock options (right to buy)	$55.73	2020-03-01	2026-03-01	10,000	10,000	Indirect
Common Stock	Non-qualified stock options (right to buy)	$37.71	2021-02-26	2027-02-26	100,334	100,334	Direct
Common Stock	Performance Stock Units	$0.00	2021-03-15	2023-03-15	21,215	21,215	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2022-02-13	5,000	5,000	Indirect
2023-01-28	50,000	50,000	Direct
2023-01-28	7,500	7,500	Indirect
2024-04-14	200,000	200,000	Direct
2024-04-14	10,000	10,000	Indirect
2025-03-02	38,002	38,002	Direct
2025-03-02	10,000	10,000	Indirect
2026-03-01	159,151	159,151	Direct
2026-03-01	10,000	10,000	Indirect
2027-02-26	100,334	100,334	Direct
2023-03-15	21,215	21,215	Direct

Footnotes

The price reported in Column 4 of Table 1 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $44.00 to $44.01, inclusive. The Reporting Person undertakes to provide to Merit Medical Systems, Inc., any security holder of Merit Medical Systems, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
Represents plan holdings as of 5/20/2020.
Becomes exercisable in equal annual installments of 20% commencing 10/4/2015.
Represents derivative securities held by the spouse of the reporting person. The reporting person expressly disclaims beneficial ownership of the securities owned by his spouse.
Becomes exercisable in equal annual installments of 20% commencing 2/13/2016.
Becomes exercisable in equal annual installments of 20% commencing 1/28/2017.
Becomes exercisable in equal annual installments of 20% commencing 4/14/2018.
Becomes exercisable in equal annual installments of 20% commencing 3/2/2019.
Becomes exercisable in equal annual installments of 20% commencing 3/1/2020.
Becomes exercisable in equal annual installments of 25% commencing 2/26/2021.
Each performance share unit represents the Company's commitment to issue one share of Merit Medical Systems, Inc. common stock, subject to achievement of performance criteria.
If earned by the Reporting Person, the PSUs will be awarded not later than March 15 of the year following the Issuer's achievement of the target level of free cash flow, subject to conditions set forth in the Performance Stock Unit Award Agreement.
On February 26, 2020, the reporting person was awarded a target number of performance share units ("PSUs") pursuant to a Performance Stock Unit Award Agreement by and between the Reporting Person and the Issuer. The actual number of PSUs to be awarded to the Reporting Person will be based upon the Issuer's free cash flow measured against its 2020 financial plan over one, two and three-year periods ending December 31, 2020, 2021 and 2022, respectively, and subject to the Reporting Person's continued employment with the Issuer and the conditions set forth in the Stock Unit Award Agreement.