Bio-Techne (TECH) President William Geist Exercises Options/RSUs

What Happened

• William Geist, President, Protein Sciences at Bio-Techne (TECH), exercised/converted a mix of option and restricted stock unit (RSU) awards on 8/15/2026. The filing shows:
  • Exercise/conversion acquired: 6,416 shares (coded M) at $0.00.
  • Exercise/conversion followed by dispositions: 567, 2,623 and 3,226 shares (coded M, disposed at $0.00).
  • Dispositions to the issuer (coded D): 8,507 and 22,898 shares at $0.00.
  • Tax/payment withholding (coded F): 1,976 shares sold/withheld at $72.40, generating proceeds of $143,062.
• These transactions reflect vesting/conversion of equity awards and related share surrenders/withholdings rather than an open-market investment or a discretionary cash sale.

Key Details

• Transaction date: 2026-08-15; Form 4 filed: 2026-08-18 (reporting period 8/15/2026).
• Tax withholding/payment: 1,976 shares @ $72.40 = $143,062 (coded F).
• Multiple dispositions to issuer at $0 (codes D) appear in the filing; such dispositions typically represent shares surrendered to the company to satisfy exercise costs, tax withholding, or settlement requirements.
• Footnotes of note:
  • F1/F7/F10/F11 describe RSU and option vesting schedules and that each RSU equals one share.
  • F3/F5: Board authorized discretionary vesting for 567 performance RSUs and 1,526 performance options on 8/15/2026; remaining performance awards were forfeited.
  • F2: Some awards noted as 100% vested.
• Shares owned after the transactions are not provided in the summary data supplied.

Context

• Codes explained: M = exercise/conversion of a derivative (options/RSUs); F = shares withheld/sold to cover tax or exercise costs; D = disposition to issuer (surrendered shares).
• This appears to be routine post-vesting exercises and employer-administered share surrenders/withholdings rather than an open-market sell driven by the insider. Purchases or open-market buys (which can be a stronger bullish signal) are not present in this filing.
• No indication in the provided details that the filing was late.