Kenneth L. Gayron - Mar 15, 2022 Form 4 Insider Report for AVID TECHNOLOGY, INC. (AVID)

Signature
/s/ Alessandra Melloni as Attorney-in-Fact for Kenneth L. Gayron
Stock symbol
AVID
Transactions as of
Mar 15, 2022
Transactions value $
$202,995
Form type
4
Date filed
3/16/2022, 09:28 PM
Previous filing
Feb 3, 2022
Next filing
Jun 16, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVID Common Stock Sale -$159K -5.5K -2.07% $28.89 260K Mar 15, 2022 Direct
transaction AVID Common Stock Tax liability -$86.3K -2.91K -1.12% $29.60 257K Mar 15, 2022 Direct F1
transaction AVID Common Stock Options Exercise $752K +25.4K +9.87% $29.60 283K Mar 15, 2022 Direct F2
transaction AVID Common Stock Award $0 +12.7K +4.49% $0.00 296K Mar 15, 2022 Direct F3
transaction AVID Common Stock Tax liability -$500K -16.9K -5.72% $29.60 279K Mar 15, 2022 Direct F4
transaction AVID Common Stock Options Exercise $238K +8.03K +2.88% $29.60 287K Mar 15, 2022 Direct F2
transaction AVID Common Stock Award $0 +4.01K +1.4% $0.00 291K Mar 15, 2022 Direct F3
transaction AVID Common Stock Tax liability -$158K -5.34K -1.84% $29.60 285K Mar 15, 2022 Direct F4
transaction AVID Common Stock Tax liability -$26.3K -889 -0.31% $29.60 285K Mar 15, 2022 Direct F5
transaction AVID Common Stock Tax liability -$83.4K -2.82K -0.99% $29.60 282K Mar 15, 2022 Direct F6
transaction AVID Common Stock Options Exercise $752K +25.4K +9.02% $29.60 307K Mar 15, 2022 Direct F7
transaction AVID Common Stock Award $0 +12.7K +4.14% $0.00 320K Mar 15, 2022 Direct F8
transaction AVID Common Stock Tax liability -$500K -16.9K -5.28% $29.60 303K Mar 15, 2022 Direct F9
transaction AVID Common Stock Tax liability -$106K -3.57K -1.18% $29.60 299K Mar 15, 2022 Direct F10
transaction AVID Common Stock Options Exercise $238K +8.05K +2.69% $29.60 307K Mar 15, 2022 Direct F11
transaction AVID Common Stock Award $0 +4.02K +1.31% $0.00 311K Mar 15, 2022 Direct F12
transaction AVID Common Stock Tax liability -$158K -5.35K -1.72% $29.60 306K Mar 15, 2022 Direct F13
transaction AVID Common Stock Award $0 +18.4K +6.02% $0.00 324K Mar 16, 2022 Direct F14

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 -25.4K -100% $0.00* 0 Mar 15, 2022 Common Stock 25.4K $29.60 Direct F2
transaction AVID Performance Rights (Restricted Stock Units) Options Exercise $0 -8.03K -100% $0.00* 0 Mar 15, 2022 Common Stock 8.03K $29.60 Direct F2
transaction AVID Performance Rights (Restricted Stock Units) Options Exercise $0 -25.4K -50% $0.00 25.4K Mar 15, 2022 Common Stock 25.4K $29.60 Direct F7
transaction AVID Performance Rights (Restricted Stock Units) Options Exercise $0 -8.05K -33.33% $0.00 16.1K Mar 15, 2022 Common Stock 8.05K $29.60 Direct F11
transaction AVID Performance Rights (Restricted Stock Units) Award $0 +18.4K $0.00 18.4K Mar 16, 2022 Common Stock 18.4K Direct F15
* 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 8.33% of the restricted stock units awarded on March 15, 2019. 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, 2019 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, 2019 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, 2019. 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 8.34% of the restricted stock units awarded on March 15, 2019. 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 shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2022 of 8.33% 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.
F7 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.
F8 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.
F9 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.
F10 Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2022 of 33.33% 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.
F11 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.
F12 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.
F13 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.
F14 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.
F15 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.