Richard B. Hancock - 01 Mar 2023 Form 4 Insider Report for Avid Bioservices, Inc.

Role: Director
Signature: /s/ Stephen Hedberg, by Power of Attorney for Richard B. Hancock
Issuer symbol: N/A
Transactions as of: 01 Mar 2023
Net transactions value: -$59,621
Form type: 4
Filing time: 03 Mar 2023, 18:43:55 UTC
Previous filing: 03 Feb 2023
Next filing: 05 Apr 2023
SEC: View on sec.gov

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	$23,350	+5,000	+13%	$4.67	44,134	01 Mar 2023	Direct
transaction	CDMO	Common Stock, $0.001 par value	Sale	$82,971	-5,000	-11%	$16.59	39,134	01 Mar 2023	Direct	F1, 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	Stock Option (right to buy)	Options Exercise	$0	-5,000	-2.6%	$0.000000	188,266	01 Mar 2023	Common Stock	5,000	$4.67	Direct	F1, F3

* 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 7, 2022.
F2	Represents a weighted average sales price per share. These shares were sold at prices ranging from $16.29 to $16.70. 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 November 27, 2017 vested monthly over a three (3) year period and was fully-vested as of November 27, 2020.