Richard B. Hancock - Dec 14, 2023 Form 4 Insider Report for Avid Bioservices, Inc. (CDMO)

Role
Director
Signature
/s/ Stephen Hedberg, by Power of Attorney for Richard B. Hancock
Stock symbol
CDMO
Transactions as of
Dec 14, 2023
Transactions value $
$134,734
Form type
4
Date filed
12/18/2023, 07:31 PM
Previous filing
Jan 10, 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 +9.61K +20.83% 55.8K Dec 14, 2023 Direct F1
transaction CDMO Common Stock, $0.001 par value Purchase $135K +23K +41.25% $5.86 78.8K Dec 15, 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 -9.61K -57.81% $0.00 7.01K Dec 14, 2023 Common Stock 9.61K Direct F1, F3
transaction CDMO Restricted Stock Units Award $0 +26.8K +381.47% $0.00 33.8K Dec 14, 2023 Common Stock 26.8K 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.