secwatch.observer — SEC 8-K summary
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Issuer:     BIO-TECHNE Corp (TECH)
CIK:        0000842023
Form:       8-K
Filed at:   2023-10-19T23:59:59+00:00
Accession:  0001558370-23-016529
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bio-Techne CEO Chuck Kummeth to retire; Kim Kelderman named successor effective Feb 1, 2024
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- Kelderman becomes COO Nov 1, 2023, then CEO and board member Feb 1, 2024; Kummeth to serve as Senior Advisor until July 1, 2024.
- CEO salary set at $900,000 base (COO $750,000), target bonus 110% (COO 100%); equity grants valued at $6.2M total.
- Kelderman has led Diagnostics & Genomics since 2018; previously executive at Thermo Fisher and BD.
- Retention RSUs awarded to candidates Geist (~$1.05M) and Hippel (~$1.39M) vesting over two years.
- Kummeth tenure: revenue grew from $311M to $1.1B, 19 acquisitions, headcount from 800 to 3,200.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/842023/000155837023016529/0001558370-23-016529-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/842023/000155837023016529/tmb-20231017x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-016529

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