Mark R. Ziebell - Oct 9, 2023 Form 4 Insider Report for Avid Bioservices, Inc. (CDMO)

Role
V. P., General Counsel
Signature
/s/ Mark R. Ziebell
Stock symbol
CDMO
Transactions as of
Oct 9, 2023
Transactions value $
-$10,497
Form type
4
Date filed
10/11/2023, 07:59 PM
Previous filing
Jul 12, 2023
Next filing
Jan 3, 2024

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 +696 +1.19% 59.1K Oct 9, 2023 Direct F1
transaction CDMO Common Stock, $0.001 par value Options Exercise +1.26K +2.13% 60.4K Oct 9, 2023 Direct F1
transaction CDMO Common Stock, $0.001 par value Options Exercise +1.25K +2.07% 61.7K Oct 9, 2023 Direct F1
transaction CDMO Common Stock, $0.001 par value Sale -$10.5K -1.14K -1.85% $9.20 60.5K Oct 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 -696 -1.56% $0.00 43.8K Oct 9, 2023 Common Stock 696 Direct F1, F4
transaction CDMO Restricted Stock Units Options Exercise $0 -1.26K -2.88% $0.00 42.5K Oct 9, 2023 Common Stock 1.26K Direct F1, F5
transaction CDMO Restricted Stock Units Options Exercise $0 -1.25K -2.94% $0.00 41.3K Oct 9, 2023 Common Stock 1.25K Direct F1, F6
* 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, 5 and 6. 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 $19.1514 to $19.2032. 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.
F6 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