Kenneth Fletcher Olson - 11 Jun 2021 Form 4 Insider Report for HARVARD BIOSCIENCE INC (HBIO)

Signature
/s/ David Sirois, by power of attorney
Issuer symbol
HBIO
Transactions as of
11 Jun 2021
Net transactions value
-$49,507
Form type
4
Filing time
15 Jun 2021, 18:19:57 UTC
Next filing
03 Nov 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HBIO Common Stock Award $0 +18,378 +12% $0.000000 169,773 11 Jun 2021 Direct F1, F2
transaction HBIO Common Stock Tax liability $49,507 -6,480 -3.8% $7.64 163,293 11 Jun 2021 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On June 11, 2020, the Reporting Person was granted an award of 36,756 restricted stock units with performance based vesting conditions, which vest in equal installments on June 11, 2021, 2022 and 2023, and are linked to the achievement of a relative total shareholder return of the Issuer's common stock from June 11, 2020 to the earlier of (i) June 11, 2021 or (ii) upon a change of control (measured relative to the Nasdaq Biotechnology index). The target number of the restricted stock units that may be earned was reported on the date of grant; the maximum amount is 150% of the number then reported. As a result of the Issuer's performance based on such performance targets, the Reporting Person earned 150% of the target amount, subject to continuation of employment through the remaining vesting dates. Accordingly, the reported transaction reflects the acquisition of 18,378 additional performance restricted stock units earned above the target grant.
F2 Includes (a) 36,756 remaining restricted stock units that will vest on June 11, 2022 and 2023, (b) 32,805 restricted stock units that will vest in three equal installments on December 31, 2021, 2022 and 2023, (c) 31,453 restricted stock units with performance based vesting conditions, (d) 27,567 remaining restricted stock units that will vest on December 31, 2021, 2022 and 2023, (e) 10,057 remaining restricted stock units that will vest on November 1, 2021 and 2022, and (f) 31,135 shares of common stock beneficially owned by the Reporting Person (which includes 3,644 shares acquired under the Issuer's Employee Stock Purchase Plan).
F3 The shares were disposed of to satisfy the Reporting Person's tax withholding obligation in connection with the performance restricted stock unit award previously granted to the Reporting Person that vested in part on June 11, 2021.
F4 Includes (a) the shares and awards described in footnote (2) above, less (b) the disposition of shares reported in footnote (3) above.