Form 4: BioLife Solutions Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Todd Berard, Chief Marketing Officer of BioLife Solutions, sold 332 shares of common stock at $15.31 per share on April 18, 2024, to cover tax withholding obligations related to vesting restricted stock.
Summary
- On April 18, 2024, Todd Berard, the Chief Marketing Officer of BioLife Solutions Inc., sold 332 shares of the company's common stock.
- The sale was executed at a price of $15.31 per share.
- Following the transaction, Berard directly owns 129,312 shares of BioLife Solutions.
- The sale was conducted under a pre-arranged Rule 10b5-1(c) trading plan adopted on January 3, 2023.
- The purpose of the sale was to satisfy tax withholding obligations associated with the vesting of restricted stock.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (stock sale for tax obligations) under a pre-existing trading plan, so the sentiment is neutral.
Industry Context
Sales by company executives are a normal part of corporate governance. The use of a 10b5-1 trading plan is a common method to avoid accusations of insider trading.
Key Dates
| Date | Description |
|---|---|
| 01/03/2023 | Date of adoption of Rule 10b5-1(c) trading plan |
| 04/18/2024 | Date of stock sale transaction |
| 04/22/2024 | Date of signature on the Form 4 filing |
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