HARVARD BIOSCIENCE INC — Director's Dealing 2018

Jul 31, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HARVARD BIOSCIENCE INC (HBIO)
CIK: 0001123494
Period of Report: 2018-07-27

Reporting Person: Gagnon Robert E. (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-07-27	Common Stock	M	30000	$4.31	Acquired	404315	Direct
2018-07-27	Common Stock	M	20000	$4.12	Acquired	424315	Direct
2018-07-27	Common Stock	S	62514	$5.54	Disposed	361801	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-07-27	Stock option (right to buy)	$4.31	M	30000	Disposed	2023-11-18	Common Stock, par value $0.01 per share (60000)	Direct
2018-07-27	Stock option (right to buy)	$4.12	M	20000	Disposed	2024-05-30	Common Stock, par value $0.01 per share (40000)	Direct

Footnotes

F1: The option exercises and sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.

F2: Includes (a) a deferred stock award of 40,000 restricted stock units with performance based vesting conditions, which shall vest in three equal installments on May 24, 2019, May 24, 2020 and May 24, 2021, contingent upon achievement of a performance condition tied to relative total shareholder return; (b) a deferred stock award of 40,000 restricted stock units which vest in four equal installments on January 1, 2019, 2020, 2021 and 2022; (c) a deferred stock award of 81,522 restricted stock units which shall vest in three equal installments on January 1, 2019, 2020 and 2021; (d) a deferred stock award of 108,696 restricted stock units which shall vest in full on May 25, 2019; (e) a deferred stock award of 44,326 restricted stock units which shall vest in two equal installments on January 1, 2019 and 2020; (continued in footnote 3 below)

F3: (continuation of footnote 2 above) (f) a deferred stock award of 6,625 restricted stock units which shall vest in full on January 1, 2019; (g) a deferred stock award of 28,117 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 (h) 55,029 shares of common stock held by the Reporting Person.

F4: Includes the awards referenced in clauses (a) through (g) of footnotes (2) and (3) above plus 75,029 shares of common stock held by the Reporting Person.

F5: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.50 to $5.70, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, 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 ranges set forth in this footnote (5).

F6: Includes the awards referenced in clauses (a) through (g) of footnotes (2) and (3) above plus 12,515 shares of common stock held by the Reporting Person.

F7: The option vested in four equal annual installments on each of November 18, 2014, 2015, 2016 and 2017.

F8: The option vested in four equal annual installments on each of January 1, 2015, 2016, 2017 and 2018.