Form 4: BioLife Solutions CMO Sells Shares Under Pre-Arranged Tax Plan
Insider Transaction Report
BioLife Solutions' Chief Marketing Officer, Todd Berard, sold 304 shares of common stock to satisfy tax withholding obligations related to restricted stock vesting, as part of a pre-arranged 10b5-1 trading plan.
Summary
- Todd Berard, the Chief Marketing Officer of BioLife Solutions Inc. (BLFS), reported a sale of common stock.
- The transaction involved the disposition of 304 shares of common stock.
- The shares were sold at a price of $22.27 per share.
- The sale occurred on July 7, 2025.
- Following this transaction, Todd Berard beneficially owns 134,618 shares of common stock.
- The sale was executed pursuant to a Rule 10b5-1(c) trading plan, which became effective on January 3, 2023.
- The primary purpose of the sale was to satisfy tax withholding obligations associated with the vesting of restricted stock.
Sentiment
Score: 5
Explanation: The transaction is a routine, pre-planned sale by an insider to cover tax obligations, which is a neutral event and does not indicate positive or negative sentiment regarding the company's performance or future prospects.
Management Comments
- The sale reported herein was made pursuant to a Rule 10b5-1 (c) trading plan adopted by the reporting person effective as of 01-03-2023 to satisfy tax withholding obligations in connection with the vesting of shares of restricted stock.
Industry Context
This Form 4 filing details a routine insider transaction, specifically a sale of shares by a company officer to cover tax obligations. Such transactions are common across all industries when restricted stock units or other equity awards vest, and they typically do not reflect a change in the company's operational performance or the officer's long-term outlook on the company, especially when conducted under a pre-arranged 10b5-1 plan.
Stakeholder Impact
- Shareholders: The sale of 304 shares is a very small fraction of the total shares outstanding and is unlikely to have a material impact on the company's stock price or ownership structure. It is a routine event for equity compensation.
Key Dates
| Date | Description |
|---|---|
| 01-03-2023 | Effective date of the Rule 10b5-1(c) trading plan adopted by Todd Berard. |
| 07/07/2025 | Date of the reported transaction (sale of common stock). |
| 07/09/2025 | Date the Form 4 filing was signed. |
Keywords
BioLife Solutions, BLFS, Form 4, Insider Trading, Stock Sale, Todd Berard, Chief Marketing Officer, 10b5-1 Plan, Tax Withholding, Restricted Stock
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