Lawrence J. Steenvoorden - Jan 5, 2022 Form 4 Insider Report for CHEMBIO DIAGNOSTICS, INC. (CEMI)

Role
Executive Vice President and Chief Financial Officer
Signature
/s/ Mark L. Johnson, Attorney-in-Fact for Lawrence J. Steenvoorden
Stock symbol
CEMI
Transactions as of
Jan 5, 2022
Transactions value $
$0
Form type
4
Date filed
1/6/2022, 08:00 PM
Next filing
May 1, 2023

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
transaction CEMI Restricted stock units Award $0 +161K $0.00 161K Jan 5, 2022 Common stock 161K Direct F1, F2
transaction CEMI Nonqualified stock options Award $0 +300K $0.00 300K Jan 5, 2022 Common stock 300K $1.12 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of Common Stock
F2 The restricted stock units are scheduled to vest in three equal installments on January 5, 2023, 2024 and 2025, provided they shall vest in full immediately prior to (a) the issuer's termination of the reporting person employment without Cause, the reporting person's termination of his employment for Good Reason or the expiration of the Term upon notice of nonrenewal delivered by the Company, in each case within twelve months following a Change in Control, or (b) the reporting person's death or Permanent Disability (each such capitalized term as defined in the employment agreement between the issuer and the reporting person).
F3 The nonqualified stock options are scheduled to vest in four equal installments on January 5, 2023, 2024, 2025 and 2026, provided they shall vest in full immediately prior to (a) the issuer's termination of the reporting person's employment without Cause, the reporting person's termination of his employment for Good Reason or the expiration of the Term upon notice of nonrenewal delivered by the Company, in each case within twelve months following a Change in Control, or (b) the reporting person's death or Permanent Disability (each such capitalized term as defined in the employment agreement between the issuer and the reporting person).

Remarks:

Executive Vice President and Chief Financial Officer