Richard B. Hancock - 14 Dec 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: 14 Dec 2023
Net transactions value: +$134,734
Form type: 4
Filing time: 18 Dec 2023, 19:31:12 UTC
Previous filing: 10 Jan 2024
Next filing: 17 Dec 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		+9,612	+21%		55,760	14 Dec 2023	Direct	F1
transaction	CDMO	Common Stock, $0.001 par value	Purchase	$134,734	+23,000	+41%	$5.86	78,760	15 Dec 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	-9,612	-58%	$0.000000	7,014	14 Dec 2023	Common Stock	9,612		Direct	F1, F3
transaction	CDMO	Restricted Stock Units	Award	$0	+26,756	+381%	$0.000000	33,770	14 Dec 2023	Common Stock	26,756		Direct	F1, F4, 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 a weighted average purchase price per share. These shares were purchased at prices ranging from $5.825 to $5.90. 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 purchased at each respective price within the range set forth in this footnote.
F3	RSUs granted to the reporting person on December 14, 2022 pursuant to the Issuer's non-employee director compensation program fully vested on December 14, 2023.
F4	Annual equity award grant pursuant to the Issuer's non-employee director compensation program.
F5	RSUs granted to the reporting person on December 14, 2023 shall fully vest on December 14, 2024, subject to the reporting person's continuous service to the Issuer on such vesting date.