Form Type: 4

SEC EDGAR Link
Accession Number:0001683168-22-002572
Date:2022-04-09
Issuer: AVID BIOSERVICES, INC. (CDMO)
Original Submission Date:

Reporting Person:

GREEN NICHOLAS STEWART
2642 MICHELLE DRIVE, SUITE 200
TUSTIN, CA 92780

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
COMMON STOCK, $0.001 PAR VALUE 2022-04-09 M 5,574 a $0.00 31,042 direct
COMMON STOCK, $0.001 PAR VALUE 2022-04-11 S 2,939 d $18.56 28,103 direct
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
RESTRICTED STOCK UNITS 0.0 2022-04-09 deemed execution date M 5,574 (d) common stock 5,574 $0.00 184,955 direct
Footnotes
IDfootnote
f1 each restricted stock unit ("rsu") represents the contingent right to receive, upon vesting of the rsu, one share of the issuer's common stock.
f2 represents the number of shares required to be sold to cover the statutory tax withholding obligations in connection with the vesting of the rsus listed in table ii. this sale is mandated by the issuer's election under its equity incentive plans to require the satisfaction of minimum statutory tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary sale by the reporting person.
f3 represents a weighted average sales price per share. these shares were sold at prices ranging from $18.56 to $18.70. the reporting person has provided to the issuer, and hereby undertakes to provide the sec staff or a security holder of the issuer, upon request, information regarding the number of shares sold at each respective price within the range set forth in this footnote.
f4 rsus granted to the reporting person on july 9, 2021, vest in sixteen (16) equal quarterly installments over a four (4) year period beginning october 9, 2021 and each quarter thereafter until fully-vested, subject to the reporting person's continuous service to the issuer on such vesting dates.
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