Matthew R. Kwietniak - Jul 11, 2024 Form 4 Insider Report for Avid Bioservices, Inc. (CDMO)

Role
Chief Commercial Officer
Signature
/s/ Stephen Hedberg, by Power of Attorney for Matthew R. Kwietniak
Stock symbol
CDMO
Transactions as of
Jul 11, 2024
Transactions value $
-$958
Form type
4
Date filed
7/15/2024, 04:40 PM
Previous filing
Jul 11, 2024
Next filing
Jul 16, 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 +335 +1.48% 23K Jul 11, 2024 Direct F1
transaction CDMO Common Stock, $0.001 par value Sale -$958 -119 -0.52% $8.05 22.8K Jul 12, 2024 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 -335 -0.43% $0.00 78.2K Jul 11, 2024 Common Stock 335 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 sold by the reporting person pursuant to a contractual election to satisfy tax withholding obligations in connection with the vesting and release 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) year vesting schedule. 25% vested 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.