Garrard Brown - Mar 15, 2022 Form 4 Insider Report for AVID TECHNOLOGY, INC. (AVID)

Role
Chief Accounting Officer & VP
Signature
/s/ Alessandra Melloni as Attorney-in-Fact for Garrard Brown
Stock symbol
AVID
Transactions as of
Mar 15, 2022
Transactions value $
$28,623
Form type
4
Date filed
3/16/2022, 09:28 PM
Previous filing
Jan 10, 2022
Next filing
Apr 8, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVID Common Stock Tax liability -$18.6K -630 -1.72% $29.60 35.9K Mar 15, 2022 Direct F1
transaction AVID Common Stock Options Exercise $158K +5.35K +14.9% $29.60 41.2K Mar 15, 2022 Direct F2
transaction AVID Common Stock Award $0 +2.68K +6.49% $0.00 43.9K Mar 15, 2022 Direct F3
transaction AVID Common Stock Tax liability -$105K -3.55K -8.07% $29.60 40.4K Mar 15, 2022 Direct F4
transaction AVID Common Stock Tax liability -$25.1K -849 -2.1% $29.60 39.5K Mar 15, 2022 Direct F5
transaction AVID Common Stock Options Exercise $56.7K +1.92K +4.85% $29.60 41.4K Mar 15, 2022 Direct F6
transaction AVID Common Stock Award $0 +958 +2.31% $0.00 42.4K Mar 15, 2022 Direct F7
transaction AVID Common Stock Tax liability -$37.7K -1.27K -3% $29.60 41.1K Mar 15, 2022 Direct F8
transaction AVID Common Stock Award $0 +4.01K +9.74% $0.00 45.1K Mar 16, 2022 Direct F9

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction AVID Performance Rights (Restricted Stock Units) Options Exercise $0 -5.35K -50% $0.00 5.35K Mar 15, 2022 Common Stock 5.35K $29.60 Direct F2
transaction AVID Performance Rights (Restricted Stock Units) Options Exercise $0 -1.92K -33.32% $0.00 3.83K Mar 15, 2022 Common Stock 1.92K $29.60 Direct F6
transaction AVID Performance Rights (Restricted Stock Units) Award $0 +4.01K $0.00 4.01K Mar 16, 2022 Common Stock 4.01K Direct F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2022 of 8.34% of the restricted stock units awarded on March 15, 2020. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
F2 Represents the number of shares issued as a result of the vesting of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2020 to March 15, 2022. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.
F3 Represents the number of additional shares issued as a result of the vesting at 150% of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2020 to March 15, 2022. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.
F4 Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2022 of the performance-based restricted stock units awarded on March 15, 2020. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
F5 Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2022 of 33.32% of the restricted stock units awarded on March 15, 2021. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
F6 Represents the number of shares issued as a result of the vesting of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2021 to March 15, 2022. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.
F7 Represents the number of additional shares issued as a result of the vesting at 150% of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2021 to March 15, 2022. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.
F8 Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2022 of the performance-based restricted stock units awarded on March 15, 2021. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
F9 Represents an award of restricted stock units that will vest on a time-based vesting schedule as follows: 33.33% on the first anniversary of the grant date of March 16, 2022, and the remaining 66.66% in equal 8.33% installments every 3 months thereafter, provided the reporting person continues to be employed by the Issuer on each such vesting date. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
F10 Represents an award of restricted stock units which vest on a performance-based schedule based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index in 2023, 2024 and 2025. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for the withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.