Richard B. Hancock - Oct 3, 2022 Form 4 Insider Report for Avid Bioservices, Inc. (CDMO)

Role
Director
Signature
/s/ Stephen Hedberg, by Power of Attorney for Richard B. Hancock
Stock symbol
CDMO
Transactions as of
Oct 3, 2022
Transactions value $
-$69,293
Form type
4
Date filed
10/5/2022, 07:56 PM
Previous filing
Sep 2, 2022
Next filing
Dec 6, 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 $16.5K +3.64K +9.86% $4.53 40.5K Oct 3, 2022 Direct
transaction CDMO Common Stock, $0.001 par value Sale -$66K -3.64K -8.97% $18.16 36.9K Oct 3, 2022 Direct F1, F2
transaction CDMO Common Stock, $0.001 par value Options Exercise $6.37K +1.37K +3.7% $4.67 38.2K Oct 3, 2022 Direct
transaction CDMO Common Stock, $0.001 par value Sale -$26.1K -1.37K -3.57% $19.15 36.9K Oct 3, 2022 Direct F1

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 -3.64K -1.68% $0.00 212K Oct 3, 2022 Common Stock 3.64K $4.53 Direct F1, F3
transaction CDMO Stock Option (right to buy) Options Exercise $0 -1.37K -0.64% $0.00 211K Oct 3, 2022 Common Stock 1.37K $4.67 Direct F1, F4
* 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 15, 2021.
F2 Represents a weighted average sales price per share. These shares were sold at prices ranging from $17.50 to $19.06. 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 Stock option granted to the reporting person on May 7, 2019, vests in four (4) equal annual installments beginning May 7, 2020 and each year thereafter until fully-vested, subject to the reporting person's continuous service to the Issuer on such vesting.
F4 Stock option granted to the reporting person on November 27, 2017 vested monthly over a three (3) year period and was fully vested as of November 27, 2020.