Bio-Techne Director Robert Baumgartner Exercises Options; Withholds Shares

What Happened

• Robert V. Baumgartner, a director of Bio‑Techne Corp (TECH), exercised stock-derived awards on 2026-09-22 that resulted in the issuance of 15,940 shares (exercise/conversion reported at $0.00 exercise price). To satisfy tax withholding, 5,559 of those shares were surrendered/withheld at $72.55 per share, totaling $403,305. Net shares received by the insider = 10,381 shares.
• This appears to be a routine option exercise with shares withheld for tax obligations (not an open-market sale).

Key Details

• Transaction date: 2026-09-22; Form 4 filed 2026-09-24 (filed two days after the transaction).
• Exercise/conversion: 15,940 shares reported as acquired (code M) with $0.00 listed as exercise price.
• Tax withholding: 5,559 shares disposed (code F) at $72.55/share = $403,305.
• Net shares retained by insider after withholding: 10,381 shares (15,940 acquired − 5,559 withheld).
• Shares owned after the transaction: not specified in the provided excerpt of the filing.
• Footnote: The option vested on the earlier of the one‑year anniversary of the grant (10/30/2025) or Bio‑Techne’s 2026 annual meeting of shareholders.

Context

• This was effectively a cashless-style outcome for tax purposes: the insider exercised options and had a portion of shares withheld to cover tax liabilities rather than selling shares on the open market. Such withholding is routine and does not necessarily indicate a change in the insider’s view of the company.