Nicholas S. Green - 09 Oct 2023 Form 4 Insider Report for Avid Bioservices, Inc.

Role: President & CEO, Director
Signature: /s/ Stephen Hedberg, by Power of Attorney for Nicholas S. Green
Issuer symbol: N/A
Transactions as of: 09 Oct 2023
Net transactions value: $0
Form type: 4
Filing time: 11 Oct 2023, 19:53:47 UTC
Previous filing: 01 Aug 2023
Next filing: 03 Jan 2024
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		+5,573	+3.8%		151,417	09 Oct 2023	Direct	F1
transaction	CDMO	Common Stock, $0.001 par value	Options Exercise		+8,826	+5.8%		160,243	09 Oct 2023	Direct	F1
transaction	CDMO	Common Stock, $0.001 par value	Options Exercise		+8,477	+5.3%		168,720	09 Oct 2023	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	Restricted Stock Units	Options Exercise	$0	-5,573	-1.7%	$0.000000	318,074	09 Oct 2023	Common Stock	5,573		Direct	F1, F2
transaction	CDMO	Restricted Stock Units	Options Exercise	$0	-8,826	-2.8%	$0.000000	309,248	09 Oct 2023	Common Stock	8,826		Direct	F1, F3
transaction	CDMO	Restricted Stock Units	Options Exercise	$0	-8,477	-2.7%	$0.000000	300,771	09 Oct 2023	Common Stock	8,477		Direct	F1, F4

* 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	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.
F3	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.
F4	RSUs granted to the reporting person on July 9, 2023, vest in sixteen (16) equal quarterly installments over a four (4) year period beginning October 9, 2023, and each quarter thereafter until fully-vested, subject to the reporting person's continuous service to the Issuer on such vesting dates.