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

Role
Chief Technology Officer & SVP
Signature
/s/ Jacob Adams as Attorney-in-Fact for Kevin Riley
Issuer symbol
N/A
Transactions as of
15 Mar 2023
Net transactions value
+$38,878
Form type
4
Filing time
17 Mar 2023, 17:13:29 UTC
Previous filing
03 Mar 2023
Next filing
01 Jun 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVID Common Stock Tax liability $16,342 -570 -1.3% $28.67 42,599 15 Mar 2023 Direct F1
transaction AVID Common Stock Options Exercise $131,825 +4,598 +11% $28.67 47,197 15 Mar 2023 Direct F2
transaction AVID Common Stock Award $0 +2,299 +4.9% $0.000000 49,496 15 Mar 2023 Direct F3
transaction AVID Common Stock Tax liability $89,364 -3,117 -6.3% $28.67 46,379 15 Mar 2023 Direct F4
transaction AVID Common Stock Tax liability $55,446 -1,893 -4.1% $29.29 44,486 16 Mar 2023 Direct F5
transaction AVID Common Stock Options Exercise $122,507 +4,273 +9.6% $28.67 48,759 15 Mar 2023 Direct F6
transaction AVID Common Stock Tax liability $54,301 -1,894 -3.9% $28.67 46,865 15 Mar 2023 Direct F7
transaction AVID Common Stock Award $0 +15,259 +33% $0.000000 62,124 15 Mar 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 -4,598 -33% $0.000000 9,195 15 Mar 2023 Common Stock 4,598 $28.67 Direct F2
transaction AVID Performance Rights (Restricted Stock Units) Options Exercise $0 -4,273 -33% $0.000000 8,547 15 Mar 2023 Common Stock 4,273 $28.67 Direct F6
transaction AVID Performance Rights (Restricted Stock Units) Award $0 +15,259 $0.000000 15,259 15 Mar 2023 Common Stock 15,259 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.