HARVARD BIOSCIENCE INC
For the period ended Jun 2, 2025. Filed Apr 21, 2025.
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Jun 2, 2025 · Filed Apr 21, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
(Rule 14a-101)
Information Required in Proxy Statement
Schedule 14a Information
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
(Amendment No. )
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Filed by a Party other than the Registrant ☐
Check the appropriate box:
☐ Preliminary Proxy Statement
☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☒ Definitive Proxy Statement
☐ Definitive Additional Materials
☐ Soliciting Material Under Rule 14a-12
Payment of Filing Fee (Check all boxes that apply):
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☐ Fee paid previously with preliminary materials
☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11
April 21, 2024
Dear Stockholder:
You are cordially invited to attend the 2025 Annual Meeting of Stockholders of Harvard Bioscience, Inc. (the “Annual Meeting”) to be held on Monday, June 2, 2025 at 11:30 a.m. EDT. The Annual Meeting will be held by virtual meeting only. You will not be able to attend the Annual Meeting in person. To be admitted to the Annual Meeting at www.virtualshareholdermeeting.com/HBIO2025, you must enter the control number found on your proxy card, voting instruction form or notice you previously received. You may vote during the Annual Meeting by following the instructions available on the meeting website during the meeting. At the meeting, we will be voting on the matters described in the accompanying proxy statement.
We are using the Internet as our primary means of furnishing the proxy materials to our stockholders. This process expedites the delivery of proxy materials, ensures materials remain easily accessible to stockholders, and allows stockholders to receive clear instructions for receiving materials and voting.
We are mailing the Notice of Internet Availability of Proxy Materials to stockholders on or about April 22, 2025. The proxy statement and our Annual Report on Form 10-K for the year ended December 31, 2024, are available at www.proxyvote.com.
The Notice of Internet Availability of Proxy Materials contains instructions for our stockholders’ use of this process, including how to access or receive copies of our proxy statement and 2024 Annual Report and how to vote by Internet or mail. To the extent you receive a proxy card, such proxy card will also contain instructions on how to vote, including the option to vote by telephone.
If you are unable to attend the meeting virtually, it is still important that your shares be represented and voted. Therefore, regardless of the number of shares you own, PLEASE VOTE THROUGH THE INTERNET, BY TELEPHONE OR BY MAIL. Any stockholder who attends the meeting virtually may vote through the meeting website, even if he or she has already voted through the Internet, by telephone or by mail.
The Board of Directors has fixed the close of business on April 7, 2025 as the record date for determination of stockholders entitled to notice of, and to vote at, the Annual Meeting and any adjournments or postponements thereof.
YOUR VOTE IS IMPORTANT. OUR ANNUAL MEETING WILL BE HELD AS A VIRTUAL MEETING. WHETHER OR NOT YOU PLAN TO ATTEND THE ANNUAL MEETING VIRTUALLY, PLEASE CAST YOUR VOTE ONLINE, BY TELEPHONE OR BY COMPLETING, DATING, SIGNING AND PROMPTLY RETURNING YOUR PROXY CARD OR VOTING INSTRUCTION CARD IN THE POSTAGE-PAID ENVELOPE (WHICH WILL BE PROVIDED TO THOSE STOCKHOLDERS WHO REQUEST TO RECEIVE PAPER COPIES OF THESE MATERIALS BY MAIL) BEFORE THE ANNUAL MEETING SO THAT YOUR SHARES ARE REPRESENTED AT THE ANNUAL MEETING.
Sincerely,
James W. Green
Chairman of the Board, President and
(508) 893-8999
______________________
NOTICE OF ANNUAL MEETING OF STOCKHOLDERS
To Be Held on Monday, June 2, 2025
_____________________
NOTICE IS HEREBY GIVEN that the 2025 Annual Meeting of Stockholders (the “Annual Meeting”) of Harvard Bioscience, Inc. (the “Company”) will be held on June 2, 2025 at 11:30 a.m. EDT. The Annual Meeting will be held by virtual meeting only. You will not be able to attend the Annual Meeting in person. To be admitted to the Annual Meeting at www.virtualshareholdermeeting.com/HBIO2025, you must enter the control number found on your proxy card, voting instruction form or notice you previously received. You may vote during the Annual Meeting by following the instructions available on the meeting website during the meeting. The Annual Meeting will be held for the following purposes:
| 1. | The election of one Class I Director named in the accompanying proxy statement, nominated by the Board of Directors for a three-year term, such term to continue until the annual meeting of stockholders in 2028 and until such Director’s successor is duly elected and qualified or until his earlier resignation or removal; |
| 2. | The ratification of the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025; |
| 3. | Approval, by a non-binding advisory vote, of the compensation of our named executive officers; |
| 4. | Approval of the Harvard Bioscience, Inc. Amended and Restated 2021 Incentive Plan to increase the number of authorized shares of Common Stock available for issuance thereunder; and |
| 5. | Such other business as may properly come before the Annual Meeting and any adjournments or postponements thereof. |
The Board of Directors has fixed the close of business on April 7, 2025 as the record date for determination of stockholders entitled to notice of, and to vote at, the Annual Meeting and any adjournments or postponements thereof. Only holders of our Common Stock of record at the close of business on that date will be entitled to notice of, and to vote at, the Annual Meeting and any adjournments or postponements thereof. Each of the items of business listed above is more fully described in the proxy statement that accompanies this notice.
The Board of Directors of Harvard Bioscience, Inc. recommends that you vote:
“FOR” the election of the nominee of the Board of Directors as a Director of the Company;
“FOR” the proposal to ratify the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025
“FOR” the proposal to approve, by a non-binding advisory vote, of the compensation of our named executive officers; and
“FOR” the approval of the Amended and Restated 2021 Incentive Plan.
Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting to be Held on June 2, 2025. The proxy statement and the Annual Report on Form 10-K for the year ended December 31, 2024 are available at www.proxyvote.com. The Annual Report, however, is not part of the proxy solicitation material.
By Order of the Board of Directors,
James W. Green
Chairman of the Board, President and
YOUR VOTE IS IMPORTANT. OUR ANNUAL MEETING WILL BE HELD AS A VIRTUAL MEETING. WHETHER OR NOT YOU PLAN TO ATTEND THE ANNUAL MEETING VIRTUALLY, PLEASE CAST YOUR VOTE ONLINE, BY TELEPHONE OR BY COMPLETING, DATING, SIGNING AND PROMPTLY RETURNING YOUR PROXY CARD OR VOTING INSTRUCTIONS CARD IN THE POSTAGE-PAID ENVELOPE (WHICH WILL BE PROVIDED TO THOSE STOCKHOLDERS WHO REQUEST TO RECEIVE PAPER COPIES OF THESE MATERIALS BY MAIL) BEFORE THE ANNUAL MEETING SO THAT YOUR SHARES ARE REPRESENTED AT THE ANNUAL MEETING.
Proxy Statement
Table of Contents
Page
| PROXY STATEMENT | 1 |
|---|---|
| PROPOSAL 1 ELECTION OF DIRECTORS | 3 |
| INFORMATION REGARDING DIRECTORS | 3 |
| INFORMATION REGARDING THE BOARD OF DIRECTORS AND ITS COMMITTEES | 6 |
| CODE OF BUSINESS CONDUCT AND ETHICS | 10 |
| ENVIRONMENTAL, SOCIAL, AND GOVERNANCE | 10 |
| REPORT OF THE AUDIT COMMITTEE | 11 |
| DIRECTOR COMPENSATION | 12 |
| INFORMATION ABOUT OUR EXECUTIVE OFFICERS | 13 |
| COMPENSATION DISCUSSION AND ANALYSIS | 14 |
| SUMMARY COMPENSATION TABLE | 20 |
| OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END | 21 |
| PAY VERSUS PERFORMANCE | 23 |
| SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT | 24 |
| EQUITY COMPENSATION PLAN INFORMATION | 27 |
| TRANSACTIONS WITH RELATED PERSONS | 27 |
| DELINQUENT SECTION 16(A) REPORTS | 27 |
| STOCKHOLDER COMMUNICATIONS WITH THE BOARD OF DIRECTORS | 27 |
| INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 28 |
| PROPOSAL 2 RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 28 |
| PROPOSAL 3 ADVISORY VOTE ON THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS | 29 |
| PROPOSAL 4 APPROVAL OF THE AMENDED AND RESTATED 2021 INCENTIVE PLAN | 29 |
| SUBMISSION OF STOCKHOLDER PROPOSALS FOR THE 2026 ANNUAL MEETING | 37 |
| MULTIPLE STOCKHOLDERS SHARING THE SAME ADDRESS | 37 |
| OTHER MATTERS | 37 |
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(508) 893-8999
_______________
**PROXY STATEMENT
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.