Mark R. Ziebell - Jan 9, 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 9, 2022
Transactions value $
-$7,574
Form type
4
Date filed
1/11/2022, 07:22 PM
Previous filing
Jan 5, 2022
Next filing
Feb 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 +697 +9.38% 8.13K Jan 9, 2022 Direct F1
transaction CDMO Common Stock, $0.001 par value Sale -$7.57K -351 -4.32% $21.58 7.78K Jan 10, 2022 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 -697 -1.63% $0.00 42.1K Jan 9, 2022 Common Stock 697 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 RSUs listed in Table II. This sale is mandated by the Issuer's election under its equity incentive plans 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 9, 2021, vest in sixteen (16) equal quarterly installments over a four (4) year period beginning October 9, 2021 and each quarter thereafter until fully-vested, subject to the reporting person's continuous service to the Issuer on such vesting dates.