BIOLIFE SOLUTIONS INC — Director's Dealing 2021

Feb 20, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BIOLIFE SOLUTIONS INC (BLFS)
CIK: 0000834365
Period of Report: 2021-02-08

Reporting Person: Berard Todd (Chief Marketing Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-08	Common Stock	A	3610	—	Acquired	67488	Direct
2021-02-08	Common Stock	M	12982	—	Acquired	80470	Direct
2021-02-17	Common Stock	S	1842	$41.55	Disposed	78628	Direct
2021-02-18	Common Stock	S	1882	$40.67	Disposed	76746	Direct
2021-02-19	Common Stock	S	1876	$40.76	Disposed	74870	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-08	Restricted Stock Award	$0	A	3610	Acquired		Common Stock (3610)	Direct

Footnotes

F1: The restricted stock was granted pursuant to the BioLife Solutions 2013 Performance Incentive Plan (the "Plan") and vests 25% on the first anniversary of the grant date and thereafter quarterly, in 12 equal quarterly installments. The restricted stock was granted to the reporting person as part of 2021 compensation.

F2: The reporting person was granted restricted stock pursuant to the Plan on February 25, 2019. In accordance with the terms of the grant, the restricted stock vested as to 200% of the reported number of shares reported in the reporting person's Form 4 reporting the grant based on the registrant's total shareholder return during the period beginning on January 1, 2019 through December 31, 2020 as compared to the total shareholder return of 20 of the registrant's peers (such peers have been determined by the registrant's compensation committee with assistance of an outside consultant immediately prior to the grant date).

F3: The sale reported herein was made by the issuer to satisfy tax withholding obligations in connection with the vesting of shares of restricted stock.

F4: The restricted stock was granted pursuant to the Plan. The restricted stock will vest as to between 0% and 200% of the reported number of shares in column 5 based on the registrant's total shareholder return during the period beginning on January 1, 2021 through December 31, 2022 as compared to the total shareholder return of certain of the registrant's peers (such peers have been determined by the registrant's compensation committee with assistance of an outside consultant immediately prior to the grant date) and will vest on the date on which the registrant's board of directors determine the total shareholder return for the period.