Form 4: Jack Schuler Acquires Series A Non-Voting Convertible Preferred Stock in Bio-Rad Laboratories

Director Jack Schuler acquired Series A Non-Voting Convertible Preferred Stock in Bio-Rad Laboratories, pending stockholder approval for conversion into common stock.

Summary

• Jack Schuler, a director and 10% owner of Bio-Rad Laboratories, acquired 2,174 shares of Series A Non-Voting Convertible Preferred Stock on April 5, 2024.
• These shares were issued under securities purchase agreements, contingent upon stockholder approval at the 2024 annual meeting for conversion into common stock.
• Upon approval, each preferred share will convert into 40 common shares, subject to certain limitations.
• Schuler also indirectly owns 86,960 shares of common stock through the Jack W. Schuler Living Trust, for which he serves as the sole trustee.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive due to the insider's acquisition of preferred stock, indicating confidence in the company's future, although the conversion is subject to stockholder approval.

Positives

• The acquisition of preferred stock demonstrates Schuler's continued investment in Bio-Rad Laboratories.
• The potential conversion of preferred stock into common stock could increase the number of common shares held by Schuler.

Risks

• The conversion of preferred stock is contingent upon stockholder approval, which is not guaranteed.
• Certain limitations may apply to the conversion of preferred stock into common stock.

Future Outlook

The future ownership structure depends on the stockholder approval of the conversion proposal at the 2024 annual meeting.

Industry Context

This filing reflects insider activity, which is closely monitored by investors to gauge management's sentiment and confidence in the company's prospects. The acquisition of preferred stock, especially with a conversion feature, can be seen as a positive sign.

Stakeholder Impact

• Shareholders: Potential dilution if the preferred stock is converted into common stock.
• Company: Potential increase in outstanding common shares if the conversion is approved.

Next Steps

• Stockholder vote on the conversion proposal at the 2024 annual meeting.
• Potential conversion of preferred stock into common stock, subject to approval and limitations.

Key Dates