HARVARD BIOSCIENCE INC — Director's Dealing 2014

May 29, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HARVARD BIOSCIENCE INC (HBIO)
CIK: 0001123494
Period of Report: 2014-05-20

Reporting Person: KENNEDY JOHN F (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-20	Common Stock	M	15805	$4.04	Acquired	38760	Direct
2014-05-20	Common Stock	M	6586	$3.41	Acquired	45346	Direct
2014-05-20	Common Stock	M	22545	$2.59	Acquired	67891	Direct
2014-05-20	Common Stock	M	6603	$3.71	Acquired	74494	Direct
2014-05-20	Common Stock	M	3303	$3.32	Acquired	77797	Direct
2014-05-20	Common Stock	M	26352	$2.15	Acquired	104149	Direct
2014-05-20	Common Stock	M	23720	$2.28	Acquired	127869	Direct
2014-05-20	Common Stock	M	6589	$3.01	Acquired	134458	Direct
2014-05-20	Common Stock	M	7072	$2.56	Acquired	141530	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-20	Stock option (right to buy)	$4.04	M	15805	Disposed	2021-06-02	Common stock, par value $0.01 per share (15805)	Direct
2014-05-20	Stock option (right to buy)	$3.41	M	6586	Disposed	2018-05-22	Common stock, par value $0.01 per share (6586)	Direct
2014-05-20	Stock option (right to buy)	$2.59	M	22545	Disposed	2020-06-04	Common stock, par value $0.01 per share (22545)	Direct
2014-05-20	Stock option (right to buy)	$3.71	M	6603	Disposed	2017-05-24	Common stock, par value $0.01 per share (6603)	Direct
2014-05-20	Stock option (right to buy)	$3.32	M	3303	Disposed	2014-06-04	Common stock, par value $0.01 per share (3303)	Direct
2014-05-20	Stock option (right to buy)	$2.15	M	26352	Disposed	2015-05-26	Common stock, par value $0.01 per share (26352)	Direct
2014-05-20	Stock option (right to buy)	$2.28	M	23720	Disposed	2019-05-21	Common stock, par value $0.01 per share (23720)	Direct
2014-05-20	Stock option (right to buy)	$3.01	M	6589	Disposed	2016-05-25	Common stock, par value $0.01 per share (6589)	Direct
2014-05-20	Stock option (right to buy)	$2.56	M	7072	Disposed	2022-06-01	Common stock, par value $0.01 per share (7072)	Direct

Footnotes

F1: Includes (a) a deferred stock award of 7,777 restricted stock units which shall fully vest on May 31, 2014; and (b) a deferred stock award of 7,377 restricted stock units which vest in equal installments on June 1, 2014 and June 1, 2015; and (c) 126,376 shares of common stock held by the Reporting Person.

F2: Represents exercise of stock options granted pursuant to the Issuer's 2000 Stock Option and Incentive Plan, as amended.

F3: The options vest in three equal installments on June 2, 2012, 2013 and 2014.

F4: The options vested in three equal installments on May 22, 2009, 2010 and 2011.

F5: The options vested in three equal installments on June 4, 2011, 2012 and 2013.

F6: The options vested in three equal installments on May 24, 2008, 2009 and 2010.

F7: The options vested in three equal installments on June 4, 2005, 2006 and 2007.

F8: The options vested in three equal installments on January 1, 2006, 2007 and 2008.

F9: The options vested in three equal installments on May 21, 2010, 2011 and 2012.

F10: The options vested in three equal installments on May 25, 2007, 2008 and 2009.

F11: The options vest in three equal installments on June 1, 2013, 2014 and 2015.