HARVARD BIOSCIENCE INC — Director's Dealing 2020

Jul 21, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HARVARD BIOSCIENCE INC (HBIO)
CIK: 0001123494
Period of Report: 2020-07-18

Reporting Person: Rossi Michael A. (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-07-18	Common Stock	A	23877	$0.00	Acquired	157814	Direct
2020-07-18	Common Stock	F	6794	$3.42	Disposed	151020	Direct

Footnotes

F1: On July 18, 2019, the Reporting Person was granted an award of 47,753 restricted stock units with performance based vesting conditions based on the achievement of a relative total shareholder return of the Issuer's common stock from July 18, 2019 to the earlier of (i) July 18, 2020 or (ii) upon a change of control (measured relative to the NASDAQ Biotechnology index). The target number of the restricted stock units that may be earned was reported on the date of grant; the maximum amount is 150% of the number then reported. As a result of the Issuer's performance based on such performance targets, the Reporting Person earned 150% of the target amount, subject to continuation of employment through the remaining vesting dates. Accordingly, the reported transaction reflects the acquisition of 23,877 additional performance restricted stock units earned above the target grant.

F2: Includes (a) 47,753 remaining restricted stock units that will vest on July 18, 2021 and 2022, (b) 43,092 restricted stock units that will vest on December 31, 2020, 2021, 2022 and 2023; (c) 43,092 restricted stock units with performance based vesting conditions tied to relative total shareholder return that will vest on June 11, 2021, 2022 and 2023; and (d) 23,877 shares of common stock beneficially owned by the Reporting Person.

F3: The shares were disposed of to satisfy the Reporting Person's tax withholding obligation in connection with the performance restricted stock unit award previously granted to the Reporting Person that vested in part on July 18, 2020.

F4: Includes (a) the shares and awards described in footnote (2) above, less (b) the disposition of shares reported in footnote (3) above.