Key facts
- This page summarizes Lawrence J. Steenvoorden's Form 4 filing for CHEMBIO DIAGNOSTICS, INC..
- 6 reported transactions and 3 derivative rows are listed below.
- Accepted by SEC: 01 May 2023, 21:03.
Lawrence J. Steenvoorden - 05 Jan 2023 Form 4 Insider Report for CHEMBIO DIAGNOSTICS, INC.
- Reporting relationship
- Officer
- Issuer ticker
- N/A
- Reported as of
- 05 Jan 2023
- Net transaction value
- -$20,883
- SEC form
- 4
- Accepted by SEC
- 01 May 2023, 21:03:34 UTC
- Prior SEC filing
- 06 Jan 2022
- Next SEC filing
- 24 Jul 2023
- Source filing
- View source filing
- Reporting owner signature
- /s/ Lawrence J. Steenvoorden
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Filing notes and source
Key filing fact
Lawrence J. Steenvoorden filed Form 4 for CHEMBIO DIAGNOSTICS, INC. on 01 May 2023.
Change
- Previous filing in this sequence was filed on 06 Jan 2022.
- Current net transaction value: -$20,883.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
CEMI
transaction
Common Stock
Options Exercise
- Transaction value
- Shares
- +53,571
- Change %
- Price
- Shares after
- 53,571
- Date
- 05 Jan 2023
- Ownership
- Direct
- Footnotes
- F1
CEMI
transaction
Common Stock
Tax liability
- Transaction value
- -$4,030
- Shares
- -16,118
- Change %
- -30%
- Price
- $0.2500
- Shares after
- 37,453
- Date
- 05 Jan 2023
- Ownership
- Direct
- Footnotes
- F2
CEMI
transaction
Common Stock
Disposition pursuant to a tender of shares in a change of control transaction
- Transaction value
- -$16,854
- Shares
- -37,453
- Change %
- -100%
- Price
- $0.4500
- Shares after
- 0
- Date
- 26 Apr 2023
- Ownership
- Direct
- Footnotes
- F3
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
CEMI
transaction
Derivative
Restricted stock units
Options Exercise
- Transaction value
- $0
- Shares
- -53,571
- Change %
- -33%
- Price
- $0.000000
- Shares after
- 107,143
- Date
- 05 Jan 2023
- Ownership
- Direct
- Underlying class
- Common stock
- Underlying amount
- 53,571
- Exercise price
- Footnotes
- F1, F4
CEMI
transaction
Derivative
Restricted stock units
Disposed to Issuer
- Transaction value
- Shares
- -107,143
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 27 Apr 2023
- Ownership
- Direct
- Underlying class
- Common stock
- Underlying amount
- 107,143
- Exercise price
- Footnotes
- F3, F5
CEMI
transaction
Derivative
Nonqualified stock options
Disposed to Issuer
- Transaction value
- Shares
- -300,000
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 27 Apr 2023
- Ownership
- Direct
- Underlying class
- Common stock
- Underlying amount
- 300,000
- Exercise price
- $1.12
- Footnotes
- F6
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Section 16 status
Lawrence J. Steenvoorden is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.
Explanation of responses 6 footnotes
Footnote F1
Each restricted stock unit represents a contingent right to receive one share of common stock.
Footnote F2
These shares were withheld for tax purposes upon the vesting of restricted stock units.
Footnote 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.
Footnote F4
On January 5, 2022, the reporting person was granted 160,714 restricted stock units which 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).
Footnote F5
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).
Footnote F6
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.