Sec Form 4 Filing - Esfandiari Javan @ CHEMBIO DIAGNOSTICS, INC. - 2021-10-08

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person Esfandiari Javan 2. Issuer Name and Ticker or Trading Symbol CHEMBIO DIAGNOSTICS, INC. [ CEMI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) See Remarks (Last) (First) (Middle) C/O CHEMBIO DIAGNOSTICS, INC., 3661 HORSEBLOCK ROAD 3. Date of Earliest Transaction (MM/DD/YY) 10/08/2021 (Street) MEDFORD, NY11763 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 10/08/2021 F( 1 ) 4,940 D $ 2.38 93,408 D Common Stock 03/15/2022 M 12,903 A 106,311 D Common Stock 03/11/2023 M 48,000 A 154,311 D Common Stock 03/11/2023 F( 1 ) 16,950 D $ 0.44 137,361 D Common Stock 03/15/2023 M 12,903 A 150,264 D Common Stock 03/15/2023 F( 1 ) 4,652 D $ 0.39 145,612 D Common Stock 04/26/2023 U( 3 ) 145,612 D $ 0.45 ( 3 ) 0 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Restricted stock units ( 2 ) 03/15/2022 M 12,903 ( 4 ) ( 4 ) Common stock 12,903 $ 0 25,807 D Restricted stock units ( 2 ) 03/11/2023 M 48,000 ( 5 ) ( 5 ) Common stock 48,000 $ 0 96,000 D Restricted stock units ( 2 ) 03/15/2023 M 12,903 ( 4 ) ( 4 ) Common stock 12,903 $ 0 12,904 D Restricted stock units ( 2 ) 04/27/2023 D( 6 ) 108,904 ( 6 ) ( 6 ) Common stock 108,904 ( 6 ) 0 D Incentive stock options $ 2.36 04/27/2023 D( 7 ) 188,064 ( 7 ) 03/15/2027 Common stock 188,064 ( 7 ) 0 D Incentive stock options $ 4.65 04/27/2023 D( 7 ) 107,143 ( 7 ) 03/14/2028 Common stock 107,143 ( 7 ) 0 D Incentive stock options $ 1.25 04/27/2023 D( 7 ) 277,714 ( 7 ) 03/10/2032 Common stock 69,435 ( 7 ) 0 D Nonqualified stock options $ 1.25 04/27/2023 D( 7 ) 277,714 ( 7 ) 03/10/2032 Common stock 208,279 ( 7 ) 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Esfandiari Javan C/O CHEMBIO DIAGNOSTICS, INC. 3661 HORSEBLOCK ROAD MEDFORD, NY11763 See Remarks Signatures /s/ Javan Esfandiari 05/01/2023 Signature of Reporting Person Date

Explanation of Responses:

( 1 )These shares were withheld for tax purposes upon the vesting of restricted stock units. ( 2 )Each restricted stock unit represents a contingent right to receive one share of common stock. ( 3 )Reflects disposition of Issuer common stock in connection with the consummation of the transactions contemplated by the Agreement and Plan of Merger, dated January 31, 2023 (the "Merger Agreement"), by and among the Issuer, Biosynex SA ("Parent"), and Project Merci Merger Sub, Inc. ("Purchaser"), including the completion on April 26, 2023 of a tender offer to purchase all of the outstanding shares of Issuer common stock at a price of $0.45 per share in cash, without interest (the "Offer Price"), and the consummation of the merger (the "Merger") between the Issuer and Purchaser on April 27, 2023. Pursuant to the Merger Agreement, as of the effective time of the Merger (the "Effective Time"), each outstanding share of Issuer common stock was cancelled in exchange for the right to receive an amount equal to the Offer Price. ( 4 )On March 15, 2021, the reporting person was granted 38,710 restricted stock units which vested over three years, with one-third vesting on March 15, 2022, one-third vesting on March 15, 2023, and the remaining one-third vesting on March 15, 2024, subject to continued service through each vesting date. ( 5 )On March 11, 2022, the reporting person was granted 144,000 restricted stock units scheduled to vest in equal installments on March 11 of each of 2023, 2024 and 2025, subject to continued service through each vesting date. ( 6 )Each Company RSU (as defined in the Merger Agreement) that was outstanding as of immediately prior to the Effective Time was cancelled and converted into the right to receive an amount in cash equal to the product of (a) the total number of Shares (as defined the Merger Agreement) issuable in settlement of such Company RSU immediately prior to the Effective Time without regard to vesting multiplied by (b) the Merger Consideration (as defined in the Merger Agreement). ( 7 )As of the Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, Parent, Purchaser or the Issuer, each option which had a per share exercise price that is equal to or more than the Offer Price (each, an "Out of the Money Option") that was then outstanding and unexercised as of immediately before the Effective Time was cancelled at the Effective Time without any consideration payable therefor.

Remarks: Executive Vice President, Chief Science and Technology Officer

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.