Form 4: BioLife Solutions CFO Troy Wichterman Sells Shares to Cover Tax Obligations

Troy Wichterman, CFO of BioLife Solutions, sold 574 shares of common stock on May 29, 2024, at a price of $21.78 per share to cover tax withholding obligations.

Summary

• On May 29, 2024, Troy Wichterman, the Chief Financial Officer of BioLife Solutions Inc., sold 574 shares of common stock.
• The sale was executed at a price of $21.78 per share.
• Following the transaction, Wichterman directly owns 125,969 shares of BioLife Solutions Inc.
• The sale was conducted under a pre-arranged Rule 10b5-1(c) trading plan adopted on February 24, 2022.
• The purpose of the sale was to satisfy tax withholding obligations related to the vesting of restricted stock.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sale of shares for tax obligations) by a company executive under a pre-arranged trading plan, which is neither particularly positive nor negative.

Industry Context

Sales of shares by company executives are a normal part of corporate governance. Often these sales are planned in advance to avoid any perception of insider trading. The use of a 10b5-1 plan is a common practice to allow insiders to sell shares at predetermined times and prices.

Stakeholder Impact

• The sale of shares by the CFO could have a minor impact on shareholder sentiment, but is unlikely to be significant given the small number of shares sold and the pre-planned nature of the transaction.

Key Dates