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

Role: Chief Technology Officer & SVP
Signature: /s/ Jacob Adams as Attorney-in-Fact for Kevin Riley
Stock symbol: AVID
Transactions as of: Mar 15, 2023
Transactions value $: $38,878
Form type: 4
Date filed: 3/17/2023, 05:13 PM
Previous filing: Mar 3, 2023
Next filing: Jun 1, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AVID	Common Stock	Tax liability	-$16.3K	-570	-1.32%	$28.67	42.6K	Mar 15, 2023	Direct	F1
transaction	AVID	Common Stock	Options Exercise	$132K	+4.6K	+10.79%	$28.67	47.2K	Mar 15, 2023	Direct	F2
transaction	AVID	Common Stock	Award	$0	+2.3K	+4.87%	$0.00	49.5K	Mar 15, 2023	Direct	F3
transaction	AVID	Common Stock	Tax liability	-$89.4K	-3.12K	-6.3%	$28.67	46.4K	Mar 15, 2023	Direct	F4
transaction	AVID	Common Stock	Tax liability	-$55.4K	-1.89K	-4.08%	$29.29	44.5K	Mar 16, 2023	Direct	F5
transaction	AVID	Common Stock	Options Exercise	$123K	+4.27K	+9.61%	$28.67	48.8K	Mar 15, 2023	Direct	F6
transaction	AVID	Common Stock	Tax liability	-$54.3K	-1.89K	-3.88%	$28.67	46.9K	Mar 15, 2023	Direct	F7
transaction	AVID	Common Stock	Award	$0	+15.3K	+32.56%	$0.00	62.1K	Mar 15, 2023	Direct	F8

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	-4.6K	-33.34%	$0.00	9.2K	Mar 15, 2023	Common Stock	4.6K	$28.67	Direct	F2
transaction	AVID	Performance Rights (Restricted Stock Units)	Options Exercise	$0	-4.27K	-33.33%	$0.00	8.55K	Mar 15, 2023	Common Stock	4.27K	$28.67	Direct	F6
transaction	AVID	Performance Rights (Restricted Stock Units)	Award	$0	+15.3K		$0.00	15.3K	Mar 15, 2023	Common Stock	15.3K		Direct	F9

* 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, 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.
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, 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.
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, 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.
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, 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.
F5	Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 16, 2023 of 33.32% 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.
F6	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.
F7	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.
F8	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.
F9	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.