Tom J. A. Cordiner - 15 Mar 2023 Form 4 Insider Report for AVID TECHNOLOGY, INC.

Role
Chief Revenue Officer & SVP
Signature
/s/ Jacob Adams as Attorney-in-Fact for Tom J. A. Cordiner
Issuer symbol
N/A
Transactions as of
15 Mar 2023
Net transactions value
+$112,514
Form type
4
Filing time
17 Mar 2023, 17:14:18 UTC
Previous filing
16 Dec 2022
Next filing
20 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 $64,737 -2,258 -1.2% $28.67 187,928 15 Mar 2023 Direct F1, F2
transaction AVID Common Stock Options Exercise $536,903 +18,727 +10% $28.67 206,655 15 Mar 2023 Direct F2, F3
transaction AVID Common Stock Award $0 +9,363 +4.5% $0.000000 216,018 15 Mar 2023 Direct F2, F4
transaction AVID Common Stock Tax liability $388,421 -13,548 -6.3% $28.67 202,470 15 Mar 2023 Direct F2, F5
transaction AVID Common Stock Tax liability $19,868 -693 -0.34% $28.67 201,777 15 Mar 2023 Direct F2, F6
transaction AVID Common Stock Options Exercise $164,766 +5,747 +2.8% $28.67 207,524 15 Mar 2023 Direct F2, F7
transaction AVID Common Stock Award $0 +2,874 +1.4% $0.000000 210,398 15 Mar 2023 Direct F2, F8
transaction AVID Common Stock Tax liability $119,210 -4,158 -2% $28.67 206,240 15 Mar 2023 Direct F2, F9
transaction AVID Common Stock Tax liability $60,337 -2,060 -1% $29.29 204,180 16 Mar 2023 Direct F2, F10
transaction AVID Common Stock Options Exercise $122,507 +4,273 +2.1% $28.67 208,453 15 Mar 2023 Direct F2, F11
transaction AVID Common Stock Tax liability $59,089 -2,061 -0.99% $28.67 206,392 15 Mar 2023 Direct F2, F12
transaction AVID Common Stock Award $0 +15,259 +7.4% $0.000000 221,651 15 Mar 2023 Direct F2, F13

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 -18,727 -100% $0.000000* 0 15 Mar 2023 Common Stock 18,727 $28.67 Direct F3
transaction AVID Performance Rights (Restricted Stock Units) Options Exercise $0 -5,747 -50% $0.000000 5,747 15 Mar 2023 Common Stock 5,747 $28.67 Direct F7
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 F11
transaction AVID Performance Rights (Restricted Stock Units) Award $0 +15,259 $0.000000 15,259 15 Mar 2023 Common Stock 15,259 Direct F14
* 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 Includes shares acquired under the Issuer's Employee Stock Purchase Plan based upon the most current data available.
F3 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.
F4 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.
F5 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.
F6 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.
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, 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 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.
F9 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.
F10 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.
F11 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.
F12 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.
F13 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.
F14 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.