SEC Form 4 · accession 0001140361-18-010325
CHEMBIO DIAGNOSTICS, INC. · CEMI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gary Meller
Director
Period of report
Feb 26, 2018
Accepted (ET)
Feb 27, 2018 · 10:04 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001092662
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 26, 2018 | M | 36,875 | $3.48 | A | 151,875 | D | |
| Common StockF1 | Feb 26, 2018 | F | 17,272 | — | D | 134,603 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Options to purchase common stock | $3.48 | Feb 26, 2018 | M | 8,750 | D | Jun 19, 2015 | Jun 19, 2019 | Common Stock | 8,750 | 0 | D |
| Options to purchase common stock | $3.48 | Feb 26, 2018 | M | 9,375 | D | Jun 19, 2016 | Jun 19, 2019 | Common Stock | 9,375 | 0 | D |
| Options to purchase common stock | $3.48 | Feb 26, 2018 | M | 9,375 | D | Jun 19, 2017 | Jun 19, 2019 | Common Stock | 9,375 | 0 | D |
| Options to purchase common stock | $3.48 | Feb 26, 2018 | M | 9,375 | D | Feb 25, 2018 | Jun 19, 2019 | Common Stock | 9,375 | 0 | D |
Explanation of responses
- F1The reporting person did not sell any shares of common stock. Rather, the reporting person exercised options to acquire 19,603 shares of common stock by submitting and relinquishing to the issuer options to purchase an additional 17,272 shares of common stock. These additional options to purchase 17,272 shares of common stock constituted the entire exercise price, using the 10-day volume weighted average trading price ended February 23, 2018 of $7.4297. As a result of this transaction, the reporting person increased his stock ownership by 19,603 shares of common stock and reduced the number of options owned by 36,875 (19,603 options exercised plus 17,272 options used to pay the exercise price for the 19,603 options exercised to purchase the 19,603 shares of common stock).