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BLFS > SEC Filings for BLFS > Form 8-K on 23-Apr-2014All Recent SEC Filings

Show all filings for BIOLIFE SOLUTIONS INC

Form 8-K for BIOLIFE SOLUTIONS INC


23-Apr-2014

Change in Directors or Principal Officers, Financial Statements and Exhibit


ITEM 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS

On April 21, 2014, the Board of Directors (the "Board") of BioLife Solutions, Inc. (the "Company"), upon the recommendation of the Board's Compensation Committee, approved an amendment to the employment agreement of Dr. Aby J. Mathew, the Company's Chief Technology Officer and Senior Vice President. Pursuant to the terms of the amendment, Dr. Mathew's base salary was increased to $260,000, and the percentage of his eligible annual achievement bonus was increased to up to thirty percent (30%) of his annual base salary. The amended agreement will be filed with the SEC when available.

In addition, Dr. Mathew was granted a one-time discretionary bonus of $50,000 and 10,000 options to purchase common shares of the Company at an exercise price of $3.70 per option pursuant to the Company's 2013 Stock Incentive Plan. 2,500 of the options vest on April 21, 2015; thereafter, 208 options vest on the 21st of each month for the next 35 months, with 220 options vesting on April 21, 2018. The options will expire on April 21, 2024.



ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

None.


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