LOUIS W. SULLIVAN - 10 May 2021 Form 4 Insider Report for Emergent BioSolutions Inc. (EBS)

Role: Director
Signature: /s/ Scott Lieberman, Attorney-in-fact
Issuer symbol: EBS
Transactions as of: 10 May 2021
Net transactions value: -$45.96
Form type: 4
Filing time: 11 May 2021, 16:18:25 UTC
Next filing: 12 May 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EBS	Common Stock	Options Exercise	$192,085	+10,305	+31%	$18.64	43,063	10 May 2021	Direct
transaction	EBS	Common Stock	Tax liability	$192,131	-3,118	-7.2%	$61.62^*	39,945	10 May 2021	Direct	F1

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	EBS	Employee Stock Options (Right to Buy)	Options Exercise	$0	-10,305	-100%	$0.000000^*	0	10 May 2021	Common Stock	10,305	$18.64	Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Consists of shares owned by the reporting person and delivered to the issuer to satisfy the reporting persons exercise price for the reported stock option exercise.
F2	Consists of an option granted under the company's stock incentive plan as amended and restated.
F3	The option vested in three equal installments in May 2015, May 2016 and May 2017. Each option represents the right of the reporting person to receive one share of common stock of Emergent BioSolutions Inc., subject to adjustment as provided in the grant agreement.