Jeff Rosica - Mar 15, 2023 Form 4 Insider Report for AVID TECHNOLOGY, INC. (AVID)

Role
CEO & President, Director
Signature
/s/ Jacob Adams as Attorney-in-Fact for Jeff Rosica
Stock symbol
AVID
Transactions as of
Mar 15, 2023
Transactions value $
$480,504
Form type
4
Date filed
3/17/2023, 05:13 PM
Previous filing
Dec 16, 2022
Next filing
Jun 20, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVID Common Stock Tax liability -$167K -5.83K -0.52% $28.67 1.11M Mar 15, 2023 Direct F1
transaction AVID Common Stock Options Exercise $1.5M +52.2K +4.68% $28.67 1.17M Mar 15, 2023 Direct F2
transaction AVID Common Stock Award $0 +26.1K +2.24% $0.00 1.19M Mar 15, 2023 Direct F3
transaction AVID Common Stock Tax liability -$995K -34.7K -2.91% $28.67 1.16M Mar 15, 2023 Direct F4
transaction AVID Common Stock Tax liability -$54.8K -1.91K -0.17% $28.67 1.16M Mar 15, 2023 Direct F5
transaction AVID Common Stock Options Exercise $494K +17.2K +1.49% $28.67 1.17M Mar 15, 2023 Direct F6
transaction AVID Common Stock Award $0 +8.62K +0.74% $0.00 1.18M Mar 15, 2023 Direct F7
transaction AVID Common Stock Tax liability -$329K -11.5K -0.97% $28.67 1.17M Mar 15, 2023 Direct F8
transaction AVID Common Stock Tax liability -$156K -5.33K -0.46% $29.29 1.16M Mar 16, 2023 Direct F9
transaction AVID Common Stock Options Exercise $345K +12K +1.03% $28.67 1.18M Mar 15, 2023 Direct F10
transaction AVID Common Stock Tax liability -$153K -5.33K -0.45% $28.67 1.17M Mar 15, 2023 Direct F11
transaction AVID Common Stock Award $0 +61K +5.21% $0.00 1.23M Mar 15, 2023 Direct F12

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 -52.2K -100% $0.00* 0 Mar 15, 2023 Common Stock 52.2K $28.67 Direct F2
transaction AVID Performance Rights (Restricted Stock Units) Options Exercise $0 -17.2K -50% $0.00 17.2K Mar 15, 2023 Common Stock 17.2K $28.67 Direct F6
transaction AVID Performance Rights (Restricted Stock Units) Options Exercise $0 -12K -33.33% $0.00 24K Mar 15, 2023 Common Stock 12K $28.67 Direct F10
transaction AVID Performance Rights (Restricted Stock Units) Award $0 +61K $0.00 61K Mar 15, 2023 Common Stock 61K Direct F13
* 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, 2023 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.
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, 2023. 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, 2023. 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, 2023 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, 2023 of 8.33% 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.
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, 2023. 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, 2023. 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, 2023 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 shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 16, 2023 of 33.33% of the restricted stock units awarded on March 16, 2022. 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 the number of shares issued as a result of the vesting of performance-based restricted stock units awarded on March 16, 2022 based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2022 to March 15, 2023. 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.
F11 Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2023 of the performance-based restricted stock units awarded on March 16, 2022. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
F12 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 15, 2023, 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.
F13 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 2024, 2025 and 2026. 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.