Form 4: BioLife Solutions Executive Sells Shares to Cover Tax Obligations

Garrie Richardson, Chief Revenue Officer of BioLife Solutions, sold 3,070 shares of common stock on September 16, 2024, to cover tax withholding obligations related to vesting restricted stock.

Summary

• On September 16, 2024, Garrie Richardson, the Chief Revenue Officer of BioLife Solutions Inc., sold 3,070 shares of the company's common stock.
• The sale was executed at a price of $25.12 per share.
• This transaction was conducted under a pre-arranged Rule 10b5-1(c) trading plan adopted by Richardson on October 1, 2020.
• The purpose of the sale was to satisfy tax withholding obligations associated with the vesting of restricted stock.
• Following the transaction, Richardson still beneficially owns 114,773 shares of BioLife Solutions Inc.

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 of shares by company executives are a common occurrence, often related to compensation and tax planning. The use of a 10b5-1 trading plan indicates that the sales were pre-planned and not based on insider information.

Stakeholder Impact

• The sale of shares by an executive could have a minor negative impact on shareholder sentiment, but the pre-planned nature of the sale mitigates this concern.

Key Dates