SEC FORM 4

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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

1. Name and Address of Reporting Person^*

Caso Charles

(Last)

(First)

(Middle)

C/O CHEMBIO DIAGNOSTICS, INC.

3661 HORSEBLOCK ROAD

(Street)

MEDFORD

11763

(City)

(State)

(Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2022

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/01/2022		M		4,101	A	⁽¹⁾	11,986	D
Common Stock	06/01/2022		F⁽²⁾		1,444	D	$0.77	10,542	D
Common Stock	03/11/2023		M		29,333	A	⁽¹⁾	39,875	D
Common Stock	03/11/2023		F⁽²⁾		10,311	D	$0.44	29,564	D
Common Stock	03/15/2023		M		7,885	A	⁽¹⁾	37,449	D
Common Stock	03/15/2023		F⁽²⁾		2,775	D	$0.39	34,674	D
Common Stock	04/26/2023		U⁽³⁾		34,674	D	$0.45⁽¹⁾	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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted stock units	⁽¹⁾	06/01/2022		M			4,101	⁽⁴⁾	⁽⁴⁾	Common stock	4,101	$0	4,102	D
Restricted stock units	⁽¹⁾	03/11/2023		M			29,333	⁽⁵⁾	⁽⁵⁾	Common stock	29,333	$0	58,667	D
Restricted stock units	⁽¹⁾	03/15/2023		M			7,885	⁽⁶⁾	⁽⁶⁾	Common stock	7,885	$0	7,886	D
Restricted stock units	⁽¹⁾	04/27/2023		D⁽⁷⁾			70,655	⁽⁷⁾	⁽⁷⁾	Common stock	70,655	⁽⁸⁾	0	D
Incentive stock options	$4.65	04/27/2023		D⁽⁸⁾			65,476	⁽⁸⁾	03/14/2031	Common stock	65,476	⁽⁸⁾	0	D
Nonqualified stock options	$1.25	04/27/2023		D⁽⁸⁾			169,714	⁽⁸⁾	03/09/2032	Common stock	169,714	⁽⁸⁾	0	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of common stock.

2. These shares were withheld for tax purposes upon the vesting of restricted stock units.

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 June 1, 2020, the reporting person was granted 12,304 restricted stock units which vest on June 1 of each of 2022 and 2023, subject to continued service through each vesting date.

5. On March 11, 2022, the reporting person was granted 88,000 restricted stock units which vest on March 11 of each of 2023, 2024 and 2025, subject to continued service through each vesting date.

6. On March 15, 2021, the reporting person was granted 23,656 restricted stock units which vest on March 15 of each of 2022, 2023 and 2024, subject to continued service through each vesting date.

7. 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).

8. 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:

Senior Vice President, Global Commercial Operations

	/s/ Charles Caso	05/01/2023
	** Signature of Reporting Person	Date
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