Daniel R. Hart - Jan 9, 2023 Form 4 Insider Report for Avid Bioservices, Inc. (CDMO)

Role
Chief Financial Officer
Signature
/s/ Daniel R. Hart
Stock symbol
CDMO
Transactions as of
Jan 9, 2023
Transactions value $
-$21,647
Form type
4
Date filed
1/11/2023, 06:45 PM
Previous filing
Jan 3, 2023
Next filing
Mar 16, 2023

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 +1.52K +3.18% 49.4K Jan 9, 2023 Direct F1
transaction CDMO Common Stock, $0.001 par value Options Exercise +2.1K +4.26% 51.5K Jan 9, 2023 Direct F1
transaction CDMO Common Stock, $0.001 par value Sale -$21.6K -1.5K -2.91% $14.44 50K Jan 10, 2023 Direct F2, 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 Restricted Stock Units Options Exercise $0 -1.52K -2.38% $0.00 62.3K Jan 9, 2023 Common Stock 1.52K Direct F1, F4
transaction CDMO Restricted Stock Units Options Exercise $0 -2.1K -3.37% $0.00 60.2K Jan 9, 2023 Common Stock 2.1K Direct F1, F5
* 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, one share of the Issuer's Common Stock.
F2 Represents the shares automatically sold by the reporting person pursuant to an election to satisfy tax withholding obligations in connection with the vesting of the RSUs described in footnotes 4 and 5. This sale does not represent a discretionary trade by the reporting person.
F3 Represents a weighted average sales price per share. These shares were sold at prices ranging from $14.44 to $14.73. 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 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.
F5 RSUs granted to the reporting person on July 9, 2022, vest in sixteen (16) equal quarterly installments over a four (4) year period beginning October 9, 2022 and each quarter thereafter until fully-vested, subject to the reporting person's continuous service to the Issuer on such vesting dates.