BIOLIFE SOLUTIONS INC — Director's Dealing 2022

Apr 14, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BIOLIFE SOLUTIONS INC (BLFS)
CIK: 0000834365
Period of Report: 2022-04-11

Reporting Person: Rice Michael (Director, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-04-11	Common Stock	M	10000	$1.90	Acquired	337155	Direct
2022-04-11	Common Stock	S	10000	$19.55	Disposed	327155	Direct
2022-04-12	Common Stock	M	57736	—	Acquired	384891	Direct
2022-04-13	Common Stock	M	10000	$1.90	Acquired	394891	Direct
2022-04-13	Common Stock	S	10000	$19.06	Disposed	384891	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-04-11	Employee Stock Option	$1.90	M	10000	Disposed	2026-03-15	Common Stock (10000)	Direct
2022-04-12	Restricted Stock Award	$0	M	57736	Disposed		Common Stock (57736)	Direct
2022-04-13	Employee Stock Option	$1.90	M	10000	Disposed	2026-03-15	Common Stock (10000)	Direct

Footnotes

F1: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person effective as of May 21, 2021.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.13 to $19.98, inclusive. The reporting person undertakes to provide to the registrant, any security holder of the registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

F3: The restricted stock was granted pursuant to BioLife Solutions 2013 Performance Incentive Plan (as amended). 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, 2020 through December 31, 2021 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).

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.61 to $19.28, inclusive. The reporting person undertakes to provide to the registrant, any security holder of the registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

F5: On March 15, 2016, the reporting person was granted an option to purchase 100,000 shares of common stock which vested 25% on the first anniversary of the grant date, and in 36 equal monthly installments thereafter.