Richard Eberly Form 4 CHEMBIO DIAGNOSTICS / RICHARD EBERLY ownership change

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^*

EBERLY RICHARD

(Last) (First) (Middle)

C/O CHEMBIO DIAGNOSTICS, INC.

555 WIRELESS BOULEVARD

(Street)

HAUPPAUGE NY 11788

(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)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
03/15/2021

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/16/2021		M		77,863	A	(1)	77,863	D
Common Stock	03/16/2021		F		26,450(2)	D	$4.35	51,413	D
Common Stock	03/16/2021		G(3)	V	51,413	D	$0	0	D
Common Stock	03/16/2021		G(3)	V	51,413	A	$0	51,413	I	By wife

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	03/15/2021		A		116,129		(4)	(4)	Common Stock	116,129	$0	116,129	D
Incentive Stock Options	$4.65	03/15/2021		A		321,429		(5)	03/14/2028	Common Stock	321,429	$0	321,429	D
Restricted Stock Units	(1)	03/16/2021		M			77,863	(6)	(6)	Common Stock	77,863	$0	155,726	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. This transaction involved a gift of securities by the reporting person to his wife, who shares the reporting person's household.

4. The restricted stock units are scheduled to vest 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. The incentive stock options are scheduled to vest and become exercisable over four years, with one-fourth vesting on March 15, 2022, one-fourth vesting on March 15, 2023, one-fourth vesting on March 15, 2024 and the remaining one-fourth vesting on March 15, 2025, subject to continued service through each vesting date.

6. On March 16, 2020, the reporting person was granted 233,589 restricted stock units scheduled to vest in equal installments on March 16 of each of 2021, 2022 and 2023, subject to continued service through each vesting date.

Remarks:

President and Chief Executive Officer

	/s/ Mark L. Johnson, Attorney-in-Fact for Richard Eberly	03/18/2021
	** Signature of Reporting Person	Date
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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