Charles R. Kummeth - Jul 21, 2023 Form 4 Insider Report for BIO-TECHNE Corp (TECH)

Role
Chief Executive Officer, Director
Signature
/s/ Andrew Nick, as Attorney-in-Fact pursuant to Power of Attorney previously filed.
Stock symbol
TECH
Transactions as of
Jul 21, 2023
Transactions value $
-$7,069,024
Form type
4
Date filed
7/25/2023, 05:27 PM
Previous filing
Jul 5, 2023
Next filing
Aug 8, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TECH Common Stock Sale -$7.07M -80K -5.98% $88.36 1.26M Jul 21, 2023 Direct F1, F2, F3
holding TECH Common Stock 400 Jul 21, 2023 By Step-Son
holding TECH Common Stock 400 Jul 21, 2023 By Step-Daughter

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding TECH Stock Options (Right to Buy) 779K Jul 21, 2023 Common Stock 779K $31.26 Direct F4
holding TECH Stock Options (Right to Buy) 361K Jul 21, 2023 Common Stock 361K $44.33 Direct F4
holding TECH Stock Options (Right to Buy) 241K Jul 21, 2023 Common Stock 241K $44.33 Direct F4
holding TECH Stock Options (Right to Buy) 343K Jul 21, 2023 Common Stock 343K $47.60 Direct F4
holding TECH Restricted Stock Units 52.9K Jul 21, 2023 Common Stock 52.9K Direct F5, F6
holding TECH Stock Options (Right to Buy) 229K Jul 21, 2023 Common Stock 229K $47.60 Direct F7
holding TECH Restricted Stock Units 51.5K Jul 21, 2023 Common Stock 51.5K Direct F5, F7, F8
holding TECH Stock Options (Right to Buy) 300K Jul 21, 2023 Common Stock 300K $66.97 Direct F8
holding TECH Stock Options (Right to Buy) 153K Jul 21, 2023 Common Stock 153K $66.97 Direct F9
holding TECH Stock Options (Right to Buy) 66.6K Jul 21, 2023 Common Stock 66.6K $66.97 Direct F10
holding TECH Stock Options (Right to Buy) 66.6K Jul 21, 2023 Common Stock 66.6K $66.97 Direct F11
holding TECH Restricted Stock Units 32.1K Jul 21, 2023 Common Stock 32.1K Direct F5, F11, F12
holding TECH Stock Options (Right to Buy) 125K Jul 21, 2023 Common Stock 125K $120.46 Direct F12
holding TECH Stock Options (Right to Buy) 83.5K Jul 21, 2023 Common Stock 83.5K $120.46 Direct F13
holding TECH Stock Options (Right to Buy) 1.2M Jul 21, 2023 Common Stock 1.2M $94.52 Direct F14
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 7, 2022.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $88.00 to $88.95 inclusive. The reporting person undertakes to provide Bio-Techne Corporation, any security holder of Bio-Techne Corporation, 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 footnote.
F3 Includes (i) 11,448 shares of restricted stock for which the risk of forfeiture will lapse on August 5, 2023; and (ii) 14,248 shares of restricted stock for which the risk of forfeiture will lapse as to 7,128 shares on each of August 6, 2023 and August 6, 2024.
F4 Fully exercisable.
F5 Each restricted stock unit represents a contingent right to receive one share of Bio-Techne common stock.
F6 17,632 shares vest on each of 8/15/2023 and 8/15/2025, and 17,636 shares vest on 8/15/2024.
F7 Options to purchase 57,152 shares vest on each of 8/7/2020 and 8/7/2021 and options to purchase 57,148 shares vest on each of 8/7/2022 and 8/7/2023.
F8 Vests in full or in part on 8/5/2023 if certain performance goals are achieved (or such later date as performance is certified by the Administrator).
F9 Options to purchase 38,292 shares vest on 8/5/21 and options to purchase 38,296 shares vest on each of 8/5/22, 8/5/23 and 8/5/24.
F10 Vests in full on the date performance of certain product revenue goals during the period of fiscal 2021-2023 is certified by the Administrator, in no event earlier than 8/5/2021.
F11 Options to purchase 22,200 shares vest on each of 8/5/21, 8/5/22 and 8/5/23.
F12 Vests in full or in part on 8/6/2024 if certain performance goals are achieved (or such later date as performance is certified by the Administrator).
F13 Options to purchase 20,876 shares vest on each of 8/6/2022, 8/6/2023, 8/6/2024 and 8/6/2025.
F14 600,000 options vest in full or in part on 7/1/2023 if certain performance goals are achieved (or such later date as performance is certified by the Administrator), and 600,000 options vest in full or in part on 7/1/2024 if certain performance goals are achieved (or such later date as performance is certified by the Administrator).