HARVARD BIOSCIENCE INC — Director's Dealing 2021

May 21, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HARVARD BIOSCIENCE INC (HBIO)
CIK: 0001123494
Period of Report: 2021-05-19

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-19	Common Stock	M	39188	$2.63	Acquired	2318966	Direct
2021-05-19	Common Stock	S	39188	$7.17	Disposed	2279778	Direct
2021-05-20	Common Stock	M	14876	$2.63	Acquired	2294654	Direct
2021-05-20	Common Stock	S	14876	$7.03	Disposed	2279778	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-19	Stock option (right to buy)	$2.63	M	39188	Disposed	2027-06-11	Common Stock (39188)	Direct
2021-05-20	Stock option (right to buy)	$2.63	M	14876	Disposed	2027-06-11	Common Stock (14876)	Direct

Footnotes

F1: Includes (a) an award of 194,698 restricted stock units that will vest in three equal installments on December 31, 2021, 2022 and 2023, subject to the terms set forth in an award agreement between the Issuer and the Reporting Person, (b) 163,606 remaining restricted stock units that will vest on December 31, 2021, 2022 and 2023, (c) 243,072 restricted stock units that will fully vest on July 8, 2021, (d) 209,180 remaining restricted stock units that will vest on January 1, 2022 and 2023, (e) 823,176 restricted stock units with performance based vesting conditions tied to relative total shareholder return, and (f) 685,234 shares of common stock beneficially owned by the Reporting Person.

F2: This transaction was executed in multiple trades at prices ranging from $7.07 to $7.26, inclusive. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F3: Includes (a) the shares and awards described in footnote (1) above, less (b) the disposition of shares reported in footnote (2) above.

F4: Includes (a) the shares and awards described in footnote (3) above, plus (b) the acquisition of 14,876 shares of common stock pursuant to the exercise of stock options as reported on this Form 4.

F5: This transaction was executed in multiple trades at prices ranging from $7.02 to $7.05, inclusive. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F6: Includes (a) the shares and awards described in footnote (4) above, less (b) the disposition of shares reported in footnote (5) above.

F7: The options vest in four equal installments on December 31, 2020, 2021, 2022 and 2023.