Mark R. Ziebell - Jan 3, 2022 Form 4 Insider Report for Avid Bioservices, Inc. (CDMO)

Role
V. P., General Counsel
Signature
/s/ Mark R. Ziebell
Stock symbol
CDMO
Transactions as of
Jan 3, 2022
Transactions value $
-$308,196
Form type
4
Date filed
1/5/2022, 06:56 PM
Previous filing
Dec 29, 2021
Next filing
Jan 11, 2022

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 $21.2K +6.43K +86.54% $3.29 13.9K Jan 3, 2022 Direct F1
transaction CDMO Common Stock, $0.001 par value Sale -$177K -6.43K -46.39% $27.53 7.43K Jan 3, 2022 Direct F1, F2
transaction CDMO Common Stock, $0.001 par value Options Exercise $242K +14.2K +191.76% $17.01 21.7K Jan 3, 2022 Direct F1
transaction CDMO Common Stock, $0.001 par value Sale -$395K -14.2K -65.73% $27.70 7.43K Jan 3, 2022 Direct F1, F3

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) Options Exercise $0 -6.43K -2.25% $0.00 280K Jan 3, 2022 Common Stock 6.43K $3.29 Direct F1, F4
transaction CDMO Stock Option (right to buy) Options Exercise $0 -14.2K -5.09% $0.00 266K Jan 3, 2022 Common Stock 14.2K $17.01 Direct F1, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on October 14, 2021.
F2 Represents a weighted average sales price per share. These shares were sold at prices ranging from $27.04 to $28.67. The Reporting Person has provided to the Issuer, and hereby undertakes to provide the SEC staff or a security holder of the Issuer, upon request, information regarding the number of shares sold at each respective price within the range set forth in this footnote.
F3 Represents a weighted average sales price per share. These shares were sold at prices ranging from $27.50 to $28.97. The Reporting Person has provided to the Issuer, and hereby undertakes to provide the SEC staff or a security holder of the Issuer, upon request, information regarding the number of shares sold at each respective price within the range set forth in this footnote.
F4 Stock option granted to the reporting person on June 20, 2012 vested quarterly over a three (3) year period and was fully vested as of June 20, 2015.
F5 Stock option granted to the reporting person on December 27, 2012 vested quarterly over a two (2) year period and was fully vested as of December 27, 2014.