Bio-Techne CEO Kim Kelderman Exercises Options, Sells Shares

What Happened
Kim Kelderman, CEO of Bio-Techne (TECH), exercised 35,000 derivative securities (options) on July 28, 2026, by paying an aggregate exercise price of $1,666,000 ($47.60 per share). To satisfy tax withholding obligations, 28,686 of the newly acquired shares were disposed/withheld at $72.07 per share, generating proceeds of about $2,067,400. The filing also shows the derivative (the option) being converted/removed (35,000 shares @ $0), consistent with exercise. Net shares retained from this transaction = 35,000 acquired − 28,686 withheld = 6,314 shares.

Key Details

• Transaction date: 2026-07-28; Form 4 filed 2026-07-30 (timely filing).
• Exercise: 35,000 shares acquired at $47.60 each; aggregate exercise cost $1,666,000 (code M).
• Tax withholding/payment: 28,686 shares disposed/withheld at $72.07 each; proceeds ≈ $2,067,400 (code F).
• Net change: +6,314 common shares retained after withholding (based on the reported lines).
• Shares owned after transaction: not specified in the provided excerpt.
• Footnotes: exercise shown as fully exercisable (footnote F1); withholding/settlement for tax liability reflected (code F).
• Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price or tax liability (share withholding). No 10b5-1 plan or other special instructions noted in provided data.

Context
This appears to be a cashless/net-settlement style exercise where the insider exercised options and had a portion of shares withheld/sold to cover taxes — a routine administrative transaction rather than an open-market sale. The derivative disposal at $0 reflects conversion of the option into underlying shares. Such withholding-related dispositions are common and do not necessarily indicate a change in the insider’s view on the company.