secwatch.observer — SEC 8-K summary
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Issuer:     BIO-TECHNE Corp (TECH)
CIK:        0000842023
Form:       8-K
Filed at:   2022-08-05T23:59:59+00:00
Accession:  0001558370-22-012336
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bio-Techne CEO Chuck Kummeth plans to retire by June 30, 2024; board begins successor search
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- Revenue grew from $311M in FY2013 to $1.1B in FY2022 (CAGR >15%); employees grew from 800 to 3,000+.
- Kummeth to receive 150k performance-vesting stock options for FY2023 and another 150k for FY2024, plus a $5M RSU award vesting over three years.
- No base salary increase; bonus target remains at 160% of salary. Kummeth will stay on as CEO during the two-year transition.
- Board evaluating internal and external CEO candidates; Kummeth is expected to remain on the board after retirement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/842023/000155837022012336/0001558370-22-012336-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/842023/000155837022012336/tmb-20220804x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-012336

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer