Charles R. Kummeth - 21 Jul 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.
Issuer symbol
TECH
Transactions as of
21 Jul 2023
Net transactions value
-$7,069,024
Form type
4
Filing time
25 Jul 2023, 17:27:42 UTC
Previous filing
05 Jul 2023
Next filing
08 Aug 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TECH Common Stock Sale $7,069,024 -80,000 -6% $88.36 1,258,766 21 Jul 2023 Direct F1, F2, F3
holding TECH Common Stock 400 21 Jul 2023 By Step-Son
holding TECH Common Stock 400 21 Jul 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) 779,084 21 Jul 2023 Common Stock 779,084 $31.26 Direct F4
holding TECH Stock Options (Right to Buy) 361,336 21 Jul 2023 Common Stock 361,336 $44.33 Direct F4
holding TECH Stock Options (Right to Buy) 240,888 21 Jul 2023 Common Stock 240,888 $44.33 Direct F4
holding TECH Stock Options (Right to Buy) 342,900 21 Jul 2023 Common Stock 342,900 $47.60 Direct F4
holding TECH Restricted Stock Units 52,900 21 Jul 2023 Common Stock 52,900 Direct F5, F6
holding TECH Stock Options (Right to Buy) 228,600 21 Jul 2023 Common Stock 228,600 $47.60 Direct F7
holding TECH Restricted Stock Units 51,516 21 Jul 2023 Common Stock 51,516 Direct F5, F7, F8
holding TECH Stock Options (Right to Buy) 299,768 21 Jul 2023 Common Stock 299,768 $66.97 Direct F8
holding TECH Stock Options (Right to Buy) 153,180 21 Jul 2023 Common Stock 153,180 $66.97 Direct F9
holding TECH Stock Options (Right to Buy) 66,600 21 Jul 2023 Common Stock 66,600 $66.97 Direct F10
holding TECH Stock Options (Right to Buy) 66,600 21 Jul 2023 Common Stock 66,600 $66.97 Direct F11
holding TECH Restricted Stock Units 32,064 21 Jul 2023 Common Stock 32,064 Direct F5, F11, F12
holding TECH Stock Options (Right to Buy) 125,260 21 Jul 2023 Common Stock 125,260 $120.46 Direct F12
holding TECH Stock Options (Right to Buy) 83,504 21 Jul 2023 Common Stock 83,504 $120.46 Direct F13
holding TECH Stock Options (Right to Buy) 1,200,000 21 Jul 2023 Common Stock 1,200,000 $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).