Matthew R. Kwietniak - Jul 11, 2023 Form 4 Insider Report for Avid Bioservices, Inc. (CDMO)

Signature
/s/ Stephen Hedberg, by Power of Attorney for Matthew R. Kwietniak
Stock symbol
CDMO
Transactions as of
Jul 11, 2023
Transactions value $
-$3,430
Form type
4
Date filed
7/13/2023, 07:27 PM
Previous filing
Jul 11, 2023
Next filing
Oct 11, 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 +669 +4.3% 16.2K Jul 11, 2023 Direct F1
transaction CDMO Common Stock, $0.001 par value Sale -$3.43K -252 -1.55% $13.61 16K Jul 12, 2023 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 -669 -1.59% $0.00 41.5K Jul 11, 2023 Common Stock 669 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, 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 footnote 3. This sale does not represent a discretionary trade by the reporting person.
F3 RSUs granted to the reporting person on October 11, 2021, is subject to a four (4) vesting schedule. 25% vest on the first anniversary of the date of grant, and the remaining balance vest in twelve (12) equal quarterly installments beginning January 11, 2023 and each quarter thereafter until fully-vested, subject to the reporting person's continuous service to the Issuer on such vesting dates.