HARVARD BIOSCIENCE INC — Director's Dealing 2016

Jan 5, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HARVARD BIOSCIENCE INC (HBIO)
CIK: 0001123494
Period of Report: 2015-12-31

Reporting Person: Duchemin Jeffrey (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-12-31	Common Stock	J	2220	$2.95	Acquired	162430	Direct
2016-01-01	Common Stock	F	6474	$3.47	Disposed	155956	Direct

Footnotes

F1: Represents shares acquired under the Issuer's Employee Stock Purchase Plan.

F2: Represents the purchase price for each share purchased under the Employee Stock Purchase Plan and equals 85% of the fair market value of the common stock on December 31, 2015, being the purchase date under the plan.

F3: Includes (a) a deferred stock award of 68,900 restricted stock units which shall vest in three equal installments on January 1, 2016, 2017, 2018 and 2019; (b) a deferred stock award of 71,748 restricted stock units with performance based vesting conditions, which shall vest on August 3, 2018 contingent upon achievement of a performance condition tied to relative total shareholder return; and (c) 21,782 shares of common stock held by the Reporting Person.

F4: The shares were disposed to satisfy the Reporting Person's tax withholding obligation in connection with deferred stock awards previously granted to the Reporting Person which vested in part on January 1, 2016.

F5: Includes (a) a deferred stock award of 51,675 restricted stock units which shall vest in three equal installments on January 1, 2017, 2018 and 2019; (b) a deferred stock award of 71,748 restricted stock units with performance based vesting conditions, which shall vest on August 3, 2018 contingent upon achievement of a performance condition tied to relative total shareholder return; and (c) 32,533 shares of common stock held by the Reporting Person.