HARVARD BIOSCIENCE INC — Director's Dealing 2020

Jun 15, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HARVARD BIOSCIENCE INC (HBIO)
CIK: 0001123494
Period of Report: 2020-06-11

Reporting Person: Olson Kenneth Fletcher (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-06-11	Common Stock	A	36756	$0.00	Acquired	53705	Direct
2020-06-11	Common Stock	A	36756	$0.00	Acquired	90461	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-06-11	Stock option (right to buy)	$2.63	A	79235	Acquired	2027-06-11	Common Stock (79235)	Direct

Footnotes

F1: Represents an award of 36,756 restricted stock units that will vest in four equal installments on December 31, 2020, 2021, 2022 and 2023.

F2: Includes (a) the award described in footnote (1) above, and (b) 16,949 restricted stock units with performance based vesting conditions tied to relative total shareholder return.

F3: Represents an award of 36,756 restricted stock units with performance based vesting conditions. These restricted stock units will vest in equal installments on June 11, 2021, 2022 and 2023, and are linked to the achievement of a relative total shareholder return of the Issuer's common stock from June 11, 2020 to the earlier of (i) June 11, 2021 or (ii) upon a change of control (measured relative to the NASDAQ Biotechnology index and based on the 20-day trading average price before each such date). The target number of these restricted stock units that may be earned is reported above; the maximum amount is 150% of the number reported.

F4: Includes (a) the shares and awards described in footnote (2) above, and (b) the award described in footnote (3) above.

F5: The options vest in four equal installments on December 31, 2020, 2021, 2022 and 2023.