Nicholas S. Green - Jul 30, 2021 Form 4 Insider Report for Avid Bioservices, Inc. (CDMO)

Role
President & CEO, Director
Signature
/s/ Stephen Hedberg, by Power of Attorney for Nicholas S. Green
Stock symbol
CDMO
Transactions as of
Jul 30, 2021
Transactions value $
-$477,998
Form type
4
Date filed
8/3/2021, 08:17 PM
Previous filing
Jul 13, 2021
Next filing
Oct 12, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CDMO Common Stock, $0.001 par value Options Exercise +37.5K +3561.25% 38.6K Jul 30, 2021 Direct F1
transaction CDMO Common Stock, $0.001 par value Sale -$478K -18.7K -48.51% $25.56 19.9K Aug 2, 2021 Direct F2

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 Restricted Stock Units Options Exercise $0 -37.5K -15.68% $0.00 202K Jul 30, 2021 Common Stock 37.5K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's Common Stock.
F2 Represents the number of shares required to be sold to cover the statutory tax withholding obligations in connection with the vesting of the restricted stock units listed in Table II. This sale is mandated by the Issuer's election under the corresponding RSU award agreement to require the satisfaction of minimum statutory tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary sale by the reporting person.
F3 RSUs granted to the reporting person on July 30, 2020, vest at the rate of 25% on each anniversary of the date of grant until fully-vested, subject to the reporting person's continuous service to the Issuer on such vesting dates .