Sec Form 4 Filing - Rice Michael @ BIOLIFE SOLUTIONS INC - 2022-04-11

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

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1. Name and Address of Reporting Person Rice Michael 2. Issuer Name and Ticker or Trading Symbol BIOLIFE SOLUTIONS INC [ BLFS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) CEO (Last) (First) (Middle) C/O BIOLIFE SOLUTIONS, INC., 3303 MONTE VILLA PARKWAY, SUITE 310 3. Date of Earliest Transaction (MM/DD/YY) 04/11/2022 (Street) BOTHELL, WA98021 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 04/11/2022 M 10,000 A $ 1.9 337,155 D Common Stock 04/11/2022 S( 1 ) 10,000 D $ 19.55( 2 ) 327,155 D Common Stock 04/12/2022 M( 3 ) 57,736 A 384,891 D Common Stock 04/13/2022 M 10,000 A $ 1.9 394,891 D Common Stock 04/13/2022 S( 1 ) 10,000 D $ 19.06( 4 ) 384,891 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 Employee Stock Option $ 1.9 04/11/2022 M 10,000 ( 5 ) 03/15/2026 Common Stock 10,000 $ 0 70,000 D Restricted Stock Award $ 0 04/12/2022 M 57,736 ( 3 ) ( 3 ) Common Stock 57,736 $ 0 0 D Employee Stock Option $ 1.9 04/13/2022 M 10,000 ( 5 ) 03/15/2026 Common Stock 10,000 $ 0 60,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Rice Michael C/O BIOLIFE SOLUTIONS, INC. 3303 MONTE VILLA PARKWAY, SUITE 310 BOTHELL, WA98021 X CEO Signatures /s/ Michael Rice 04/13/2022 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person effective as of May 21, 2021. ( 2 )The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.13 to $19.98, inclusive. The reporting person undertakes to provide to the registrant, any security holder of the registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range. ( 3 )The restricted stock was granted pursuant to BioLife Solutions 2013 Performance Incentive Plan (as amended). In accordance with the terms of the grant, the restricted stock vested as to 200% of the reported number of shares reported in the reporting person's Form 4 reporting the grant based on the registrant's total shareholder return during the period beginning on January 1, 2020 through December 31, 2021 as compared to the total shareholder return of certain of the registrant's peers (such peers have been determined by the registrant's compensation committee with assistance of an outside consultant immediately prior to the grant date). ( 4 )The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.61 to $19.28, inclusive. The reporting person undertakes to provide to the registrant, any security holder of the registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range. ( 5 )On March 15, 2016, the reporting person was granted an option to purchase 100,000 shares of common stock which vested 25% on the first anniversary of the grant date, and in 36 equal monthly installments thereafter.

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).

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