HARVARD BIOSCIENCE INC — Director's Dealing 2020

Jul 10, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HARVARD BIOSCIENCE INC (HBIO)
CIK: 0001123494
Period of Report: 2020-07-08

Reporting Person: Green James W (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-07-08	Common Stock	A	209180	$0.00	Acquired	2147605	Direct
2020-07-08	Common Stock	F	157490	$3.49	Disposed	1990115	Direct

Footnotes

F1: On July 8, 2019, the Reporting Person was granted an award of 418,360 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 8, 2019 to the earlier of (i) July 8, 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 209,180 additional performance restricted stock units earned above the target grant.

F2: Includes (a) the award described in footnote (1) above, (b) 218,141 restricted stock units that will vest on December 31, 2020, 2021, 2022 and 2023; (c) 243,072 restricted stock units that will fully vest on July 8, 2021; (d) 313,770 restricted stock units that will vest in three equal installments on January 1, 2021, 2022 and 2023; (e) 636,502 restricted stock units with performance based vesting conditions tied to relative total shareholder return; and (f) 526,940 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 restricted stock unit and performance restricted stock unit awards previously granted to the Reporting Person which vested in part on July 8, 2020.

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