<SEC-DOCUMENT>0001104659-22-022572.txt : 20220214
<SEC-HEADER>0001104659-22-022572.hdr.sgml : 20220214
<ACCEPTANCE-DATETIME>20220214153108
ACCESSION NUMBER:		0001104659-22-022572
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20211231
FILED AS OF DATE:		20220214
DATE AS OF CHANGE:		20220214

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Lawrence Margaret H.
		CENTRAL INDEX KEY:			0001857015

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40501
		FILM NUMBER:		22630559

	MAIL ADDRESS:	
		STREET 1:		450 BEDFORD STREET
		CITY:			LEXINGTON
		STATE:			MA
		ZIP:			02420

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			iSpecimen Inc.
		CENTRAL INDEX KEY:			0001558569
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731]
		IRS NUMBER:				270480143
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		450 BEDFORD STREET
		STREET 2:		SUITE 1010
		CITY:			LEXINGTON
		STATE:			MA
		ZIP:			02420
		BUSINESS PHONE:		781-301-6700

	MAIL ADDRESS:	
		STREET 1:		450 BEDFORD STREET
		STREET 2:		SUITE 1010
		CITY:			LEXINGTON
		STATE:			MA
		ZIP:			02420
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>tm226491-7_5seq1.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2021-12-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>1</form4TransactionsReported>

    <issuer>
        <issuerCik>0001558569</issuerCik>
        <issuerName>iSpecimen Inc.</issuerName>
        <issuerTradingSymbol>ISPC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001857015</rptOwnerCik>
            <rptOwnerName>Lawrence Margaret H.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ISPECIMEN INC.</rptOwnerStreet1>
            <rptOwnerStreet2>450 BEDFORD STREET</rptOwnerStreet2>
            <rptOwnerCity>LEXINGTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02420</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2021-07-30</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2021-06-21</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value>L</value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>2500</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2500</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Non-Qualified Stock Options</value>
                <footnoteId id="F3"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>8.00</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-07-30</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2021-06-21</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value>L</value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>13525</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>13525</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13525</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents shares underlying certain restricted stock units (&quot;RSUs&quot;) each of which represents a contingent right to receive one share of common stock at settlement subject to the terms and conditions set forth in the award of such RSUs by the Company to the Reporting Person pursuant to a Restricted Stock Unit Award Agreement (the &quot;RSU Agreement&quot;). The RSUs vest in four equal quarterly installments on September 21, 2021, December 21, 2021, March 21, 2022 and June 21, 2022, subject to the terms and conditions set forth in the RSU Agreement. 625 RSUs and 625 RSUs were settled for shares of common stock on June 30, 2021 and December 31, 2021, respectively, and the Reporting Person was issued 1,250 shares of common stock.</footnote>
        <footnote id="F2">The RSUs were awarded as compensation to the Reporting Person for her service as the director of the Company.</footnote>
        <footnote id="F3">Each non-qualified stock option (&quot;NSO&quot;) represents a contingent right to receive one share of common stock upon exercise subject to the terms and conditions set forth in the award of such NSOs by iSpecimen Inc. (the &quot;Company&quot;) to the Reporting Person pursuant to a Nonqualified Stock Option Award Agreement (the &quot;NSO Agreement&quot;) under the iSpecimen Inc. 2021 Amended and Restated Stock Incentive Plan, as amended. The NSOs has a vesting term of three years with a one-year cliff (i.e. 33.33% of the NSOs vest on June 21, 2022, and the rest of the NSOs vest in equal quarterly installments on September 21, 2022 and each December 21, March 21, June 21 and September 21 until June 21, 2024), subject to the terms and conditions set forth in the NSO Agreement.</footnote>
        <footnote id="F4">The NSOs were awarded as compensation to the Reporting Person for her service as a director of the Company.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Margaret H Lawrence</signatureName>
        <signatureDate>2022-02-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
