Javan Esfandiari - 08 Oct 2021 Form 4 Insider Report for CHEMBIO DIAGNOSTICS, INC.

Role
Executive Vice President, Chief Science and Technology Officer
Signature
/s/ Javan Esfandiari
Issuer symbol
N/A
Transactions as of
08 Oct 2021
Net transactions value
-$86,555
Form type
4
Filing time
01 May 2023, 21:03:27 UTC
Next filing
15 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CEMI Common Stock Tax liability $11,757 -4,940 -5% $2.38* 93,408 08 Oct 2021 Direct F1
transaction CEMI Common Stock Options Exercise +12,903 +14% 106,311 15 Mar 2022 Direct F2
transaction CEMI Common Stock Options Exercise +48,000 +45% 154,311 11 Mar 2023 Direct F2
transaction CEMI Common Stock Tax liability $7,458 -16,950 -11% $0.4400 137,361 11 Mar 2023 Direct F1
transaction CEMI Common Stock Options Exercise +12,903 +9.4% 150,264 15 Mar 2023 Direct F2
transaction CEMI Common Stock Tax liability $1,814 -4,652 -3.1% $0.3900 145,612 15 Mar 2023 Direct F1
transaction CEMI Common Stock Disposition pursuant to a tender of shares in a change of control transaction $65,525 -145,612 -100% $0.4500 0 26 Apr 2023 Direct F3

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 Options Exercise $0 -12,903 -33% $0.000000 25,807 15 Mar 2022 Common stock 12,903 Direct F2, F4
transaction CEMI Restricted stock units Options Exercise $0 -48,000 -33% $0.000000 96,000 11 Mar 2023 Common stock 48,000 Direct F2, F5
transaction CEMI Restricted stock units Options Exercise $0 -12,903 -50% $0.000000 12,904 15 Mar 2023 Common stock 12,903 Direct F2, F4
transaction CEMI Restricted stock units Disposed to Issuer -108,904 -100% 0 27 Apr 2023 Common stock 108,904 Direct F2, F6
transaction CEMI Incentive stock options Disposed to Issuer -188,064 -100% 0 27 Apr 2023 Common stock 188,064 $2.36 Direct F7
transaction CEMI Incentive stock options Disposed to Issuer -107,143 -100% 0 27 Apr 2023 Common stock 107,143 $4.65 Direct F7
transaction CEMI Incentive stock options Disposed to Issuer -277,714 -100% 0 27 Apr 2023 Common stock 69,435 $1.25 Direct F7
transaction CEMI Nonqualified stock options Disposed to Issuer -277,714 -100% 0 27 Apr 2023 Common stock 208,279 $1.25 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Javan Esfandiari is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 These shares were withheld for tax purposes upon the vesting of restricted stock units.
F2 Each restricted stock unit represents a contingent right to receive one share of common stock.
F3 Reflects disposition of Issuer common stock in connection with the consummation of the transactions contemplated by the Agreement and Plan of Merger, dated January 31, 2023 (the "Merger Agreement"), by and among the Issuer, Biosynex SA ("Parent"), and Project Merci Merger Sub, Inc. ("Purchaser"), including the completion on April 26, 2023 of a tender offer to purchase all of the outstanding shares of Issuer common stock at a price of $0.45 per share in cash, without interest (the "Offer Price"), and the consummation of the merger (the "Merger") between the Issuer and Purchaser on April 27, 2023. Pursuant to the Merger Agreement, as of the effective time of the Merger (the "Effective Time"), each outstanding share of Issuer common stock was cancelled in exchange for the right to receive an amount equal to the Offer Price.
F4 On March 15, 2021, the reporting person was granted 38,710 restricted stock units which vested over three years, with one-third vesting on March 15, 2022, one-third vesting on March 15, 2023, and the remaining one-third vesting on March 15, 2024, subject to continued service through each vesting date.
F5 On March 11, 2022, the reporting person was granted 144,000 restricted stock units scheduled to vest in equal installments on March 11 of each of 2023, 2024 and 2025, subject to continued service through each vesting date.
F6 Each Company RSU (as defined in the Merger Agreement) that was outstanding as of immediately prior to the Effective Time was cancelled and converted into the right to receive an amount in cash equal to the product of (a) the total number of Shares (as defined the Merger Agreement) issuable in settlement of such Company RSU immediately prior to the Effective Time without regard to vesting multiplied by (b) the Merger Consideration (as defined in the Merger Agreement).
F7 As of the Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, Parent, Purchaser or the Issuer, each option which had a per share exercise price that is equal to or more than the Offer Price (each, an "Out of the Money Option") that was then outstanding and unexercised as of immediately before the Effective Time was cancelled at the Effective Time without any consideration payable therefor.

Remarks:

Executive Vice President, Chief Science and Technology Officer