Esther M. Alegria - 09 Jul 2021 Form 4 Insider Report for Avid Bioservices, Inc.

Role: Director
Signature: /s/ Stephen Hedberg, by Power of Attorney for Esther M. Alegria, Ph.D.
Issuer symbol: N/A
Transactions as of: 09 Jul 2021
Net transactions value: $0
Form type: 4
Filing time: 13 Jul 2021, 21:35:55 UTC
Previous filing: 02 Jul 2021
Next filing: 16 Dec 2021
SEC: View on sec.gov

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	CDMO	Stock Option (right to buy)	Award	$0	+8,376		$0.000000	8,376	09 Jul 2021	Common Stock	8,376	$26.03	Direct	F1
transaction	CDMO	Restricted Stock Units	Award	$0	+2,067		$0.000000	2,067	09 Jul 2021	Common Stock	2,067		Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	One-third of the stock options granted to the reporting person shall vest on July 9, 2022 and on each one-year anniversary thereafter until fully vested, subject to the reporting person's continuous service to the Issuer on such vesting dates.
F2	Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's Common Stock.
F3	One-third of the RSUs granted to the reporting person shall vest on July 9, 2022 and on each one-year anniversary thereafter until fully vested, subject to the reporting person's continuous service to the Issuer on such vesting dates.