[Form 4] Bio-Rad Laboratories, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Norman D. Schwartz, Chairman & CEO of Bio-Rad Laboratories (BIO), reported insider transactions related to Class A and Class B common stock. The filing shows vested restricted stock units converted into 3,455 Class A shares and a separate purchase of 1,528 Class A shares at $295.43 each, leaving him with 443,434 Class A shares direct ownership. The report also discloses 361,466 Class B shares held directly, 13,006 Class B shares held indirectly by spouse, and 4,060,054 Class B shares held indirectly by Blue Raven Partners, L.P. Restricted stock units vest over four years at 25% per year.

Positive

• Realized equity alignment: Vesting of 16,439 RSUs (with 3,455 vested reported) converts compensation into equity, aligning management with shareholders
• Open-market purchase: Acquisition of 1,528 Class A shares at $295.43 indicates additional personal investment by the CEO
• Clear disclosure: Distinct reporting of direct and indirect holdings, including spouse and partnership, improves governance transparency

Negative

• Concentrated indirect holdings: 4,060,054 Class B shares held by Blue Raven Partners, L.P. indicate significant control concentration
• Limited immediate liquidity signal: Transactions are primarily vesting and a small purchase; no significant sale or diversification disclosed

Insights

Financial Analyst

TL;DR: Insider converted RSUs and purchased shares, modestly increasing direct Class A holdings; substantial indirect Class B holdings remain concentrated.

The transactions combine routine compensation vesting with a market purchase at $295.43 per share, increasing direct Class A holdings to 443,434 shares. The large indirect position through Blue Raven Partners, L.P. (4,060,054 Class B shares) maintains concentrated control influence without changing reported beneficial ownership materially. For investors, these filings show alignment through equity compensation realization and a small open-market purchase, but no change in control or divestiture.

Corporate Governance Expert

TL;DR: Vesting RSUs and a share purchase are routine; disclosure highlights both direct and disclaimed indirect holdings, relevant for governance transparency.

The report clearly separates direct ownership from disclaimed indirect interests, noting spouse-held shares and partnership holdings. The vesting schedule (25% annually) clarifies timing of future share deliveries. No departures, option exercises at non-market prices, or related-party transfers are reported. This filing is a routine governance disclosure that maintains transparency about potential voting influence and economic interest.

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

OMB APPROVAL

OMB Number:			3235-0287
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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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SCHWARTZ NORMAN D

(Last) (First) (Middle)

C/O BIO-RAD LABORATORIES, INC.

1000 ALFRED NOBEL DRIVE

(Street)

HERCULES CA 94547

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BIO-RAD LABORATORIES, INC. [ BIO BIO.B ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman & CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

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
Bio-Rad A Common Stock	09/06/2025		M		3,455(1)	A	$0	444,962	D
Bio-Rad A Common Stock	09/06/2025		F		1,528	D	$295.43	443,434	D
Bio-Rad B Common Stock								361,466	D
Bio-Rad B Common Stock								13,006	I	By Spouse(2)
Bio-Rad B Common Stock								4,060,054	I	By Blue Raven Partners, L.P.(3)

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	$0(4)	09/05/2025		A		16,439		(5)	(5)	Bio-Rad A Common Stock	16,439	$0	16,439	D
Restricted Stock Units	$0(4)	09/06/2025		M			3,455	(5)	(5)	Bio-Rad A Common Stock	3,455	$0	10,367	D

Explanation of Responses:

1. Shares of Class A common stock acquired on the vesting of restricted stock units.

2. The reporting person disclaims beneficial ownership of these shares.

3. The shares are held by a limited partnership of which the reporting person is a limited and general partner. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

4. Each restricted stock unit represents a contingent right to receive one share of Bio-Rad Class A common stock.

5. The restricted stock units vest over four years at 25% per year on the yearly anniversary date of the grant.

Remarks:

	/s/ Norman Schwartz	09/09/2025
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Norman D. Schwartz report for BIO?

He reported 3,455 Class A shares acquired on RSU vesting and an open-market purchase of 1,528 Class A shares at $295.43.

How many Bio-Rad shares does Schwartz beneficially own after the reported transactions?

The filing reports 443,434 Class A shares directly and 361,466 Class B shares directly, plus indirect holdings noted below.

What indirect holdings are disclosed in the Form 4 for BIO?

The report discloses 13,006 Class B shares indirectly held by spouse and 4,060,054 Class B shares indirectly held by Blue Raven Partners, L.P.

What is the vesting schedule for the restricted stock units reported?

Each restricted stock unit vests over four years at 25% per year on the anniversary date of the grant.

Did the filing indicate any disposition of shares by Schwartz?

No dispositions were reported; transactions listed are acquisitions via vesting and purchase.