Key facts
- This page summarizes Mariesa Victoria's Form 4 filing for AVID TECHNOLOGY, INC..
- 4 reported transactions and 1 derivative row are listed below.
- Accepted by SEC: 07 Nov 2023, 16:46.
Mariesa Victoria - 07 Nov 2023 Form 4 Insider Report for AVID TECHNOLOGY, INC.
- Reporting relationship
- VP & Chief Accounting Officer
- Issuer ticker
- N/A
- Reported as of
- 07 Nov 2023
- Net transaction value
- -$435,207
- SEC form
- 4
- Accepted by SEC
- 07 Nov 2023, 16:46:23 UTC
- Prior SEC filing
- 13 Oct 2023
- Source filing
- View source filing
- Reporting owner signature
- /s/ Jacob Adams as Attorney-in-Fact for Mariesa Victoria
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
Mariesa Victoria filed Form 4 for AVID TECHNOLOGY, INC. on 07 Nov 2023.
Change
- Previous filing in this sequence was filed on 13 Oct 2023.
- Current net transaction value: -$435,207.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
AVID
transaction
Common Stock
Disposed to Issuer
- Transaction value
- $62,026
- Shares
- -2,293
- Change %
- -14%
- Price
- $27.05
- Shares after
- 13,796
- Date
- 07 Nov 2023
- Ownership
- Direct
- Footnotes
- F1, F2
AVID
transaction
Common Stock
Disposed to Issuer
- Transaction value
- $132,329
- Shares
- -4,892
- Change %
- -35%
- Price
- $27.05
- Shares after
- 8,904
- Date
- 07 Nov 2023
- Ownership
- Direct
- Footnotes
- F1, F3, F6
AVID
transaction
Common Stock
Disposed to Issuer
- Transaction value
- $240,853
- Shares
- -8,904
- Change %
- -100%
- Price
- $27.05
- Shares after
- 0
- Date
- 07 Nov 2023
- Ownership
- Direct
- Footnotes
- F1, F4
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
AVID
transaction
Derivative
Performance Rights (Restricted Stock Units)
Disposed to Issuer
- Transaction value
- Shares
- -4,359
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 07 Nov 2023
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 4,359
- Exercise price
- Footnotes
- F1, F4, F5
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Section 16 status
Mariesa Victoria is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.
Explanation of responses 6 footnotes
Footnote F1
Pursuant to the Agreement and Plan of Merger, dated as of August 9, 2023 (the "Merger Agreement"), by and among the Issuer, Artisan Bidco, Inc., a Delaware corporation ("Parent"), and Artisan Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Parent ("Merger Sub"), effective November 7, 2023, among other things, Merger Sub merged with and into the Issuer, with the Issuer surviving as a wholly-owned subsidiary of Parent (the "Merger").
Footnote F2
Pursuant to the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each share of the Issuer's common stock ("Common Stock") issued and outstanding immediately prior to the Effective Time was cancelled and automatically converted into the right to receive $27.05 in cash, subject to any required tax withholding in accordance with the terms of the Merger Agreement.
Footnote F3
Pursuant to the Merger Agreement, at the Effective Time, each outstanding restricted stock unit ("RSU") award that vested as a result of the consummation of the transactions contemplated by the Merger Agreement ("vested RSU award") was cancelled and, in exchange therefor, each holder of any such cancelled vested RSU award became solely entitled to receive, in consideration of the cancellation of such vested RSU award and in settlement therefor, a payment in cash of an amount equal to the product of (i) the number of RSUs subject to such vested RSU award immediately prior to the Effective Time multiplied by (ii) $27.05 (less any required tax withholdings in accordance with the terms of the Merger Agreement).
Footnote F4
Pursuant to the Merger Agreement, at the Effective Time, each unvested RSU award, including each unvested award of performance-based RSUs, was automatically cancelled and converted solely into the contingent right to receive a cash payment equal to the product of (i) the number of RSUs subject to such unvested RSU award immediately prior to the Effective Time multiplied by (ii) $27.05, with such converted cash award generally subject to the same vesting terms and conditions that applied to the corresponding RSU prior to the Effective Time, with payment forfeited to the extent vesting is not satisfied, except if the holder's service is terminated without cause.
Footnote F5
Represents RSUs from an award in 2023, which vest in equal installments on a performance-based schedule based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index in 2024, 2025 and 2026. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for the withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.
Footnote F6
Pursuant to the change in control provision in the Reporting Person's award of 4,892 RSUs on August 10, 2023, 100% of the RSUs vested at the Effective Time.