Key facts
- This page summarizes Richard A. Richieri's Form 4 filing for Avid Bioservices, Inc..
- 6 reported transactions and 4 derivative rows are listed below.
- Accepted by SEC: 27 Dec 2024, 19:31.
Richard A. Richieri - 25 Dec 2024 Form 4 Insider Report for Avid Bioservices, Inc.
- Reporting relationship
- Chief Operations Officer
- Issuer ticker
- N/A
- Reported as of
- 25 Dec 2024
- Net transaction value
- -$46,961
- SEC form
- 4
- Accepted by SEC
- 27 Dec 2024, 19:31:02 UTC
- Prior SEC filing
- 11 Oct 2024
- Next SEC filing
- 02 Jan 2025
- Source filing
- View source filing
- Reporting owner signature
- /s/ Stephen Hedberg, by Power of Attorney for Richard A. Richieri
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Key filing fact
Richard A. Richieri filed Form 4 for Avid Bioservices, Inc. on 27 Dec 2024.
Change
- Previous filing in this sequence was filed on 11 Oct 2024.
- Current net transaction value: -$46,961.
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.
CDMO
transaction
Common Stock, $0.001 par value
Options Exercise
- Transaction value
- Shares
- +10,695
- Change %
- +28%
- Price
- Shares after
- 48,399
- Date
- 25 Dec 2024
- Ownership
- Direct
- Footnotes
- F1, F2
CDMO
transaction
Common Stock, $0.001 par value
Sale
- Transaction value
- $46,961
- Shares
- -3,843
- Change %
- -7.9%
- Price
- $12.22
- Shares after
- 44,556
- Date
- 26 Dec 2024
- Ownership
- Direct
- Footnotes
- F3
CDMO
holding
Common Stock, $0.001 par value
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 7,218
- Date
- 25 Dec 2024
- Ownership
- By Spouse
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
CDMO
transaction
Derivative
Performance Stock Units (FY 2023 Grant)
Disposed to Issuer
- Transaction value
- $0
- Shares
- -5,043
- Change %
- -3.9%
- Price
- $0.000000
- Shares after
- 123,485
- Date
- 25 Dec 2024
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 5,043
- Exercise price
- Footnotes
- F2, F4, F5
CDMO
transaction
Derivative
Performance Stock Units (FY 2023 Grant)
Disposed to Issuer
- Transaction value
- $0
- Shares
- -5,044
- Change %
- -4.1%
- Price
- $0.000000
- Shares after
- 118,441
- Date
- 25 Dec 2024
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 5,044
- Exercise price
- Footnotes
- F2, F4, F6
CDMO
transaction
Derivative
Performance Stock Units (FY 2024 Grant)
Disposed to Issuer
- Transaction value
- $0
- Shares
- -5,652
- Change %
- -4.8%
- Price
- $0.000000
- Shares after
- 112,789
- Date
- 25 Dec 2024
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 5,652
- Exercise price
- Footnotes
- F2, F4, F5
CDMO
transaction
Derivative
Performance Stock Units (FY 2024 Grant)
Disposed to Issuer
- Transaction value
- $0
- Shares
- -5,652
- Change %
- -5%
- Price
- $0.000000
- Shares after
- 107,137
- Date
- 25 Dec 2024
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 5,652
- Exercise price
- Footnotes
- F2, F4, F6
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 6 footnotes
Footnote F1
In connection with the anticipated transactions contemplated by the Agreement and Plan of Merger (the "Merger Agreement") whereby the Issuer will be acquired by funds managed by affiliates of GHO Capital Partners LLP and Ampersand Capital Partners, the Board of Directors of the Issuer accelerated the payment of certain equity awards in connection with certain actions to mitigate adverse tax consequences of Section 280G and Section 4999 of the Internal Revenue Code of 1986 (as amended) that could arise in connection with the anticipated transactions under the Merger Agreement. The accelerated settlement of equity awards reported in this Form 4 was contingent upon the reporting person's agreement to repay accelerated compensation amounts under certain conditions.
Footnote F2
Each performance stock unit ("PSU") represents the contingent right to receive, upon vesting, one share of the Issuer's Common Stock.
Footnote F3
Represents the shares sold by the reporting person pursuant to a contractual election to satisfy tax withholding obligations in connection with the vesting of the PSUs described in footnotes 4 and 5. This sale does not represent a discretionary trade by the reporting person.
Footnote F4
The PSUs granted to the reporting person were subject to the Issuer achieving certain fiscal year financial milestones over three (3) consecutive fiscal year performance periods (i.e., May 1 to April 30) commencing with the fiscal year in which the PSU was initially granted (each fiscal year a "Performance Period"). Subject to the Issuer attaining the applicable fiscal year milestones, 1/3rd of the PSUs were scheduled to vest on the last day of each fiscal year during the Performance Period, subject to the reporting person's continuous service to the Issuer on such vesting dates. The number of PSUs initially reported by the reporting person was based on a maximum 200% achievement of each milestone during each Performance Period (the "Maximum Performance Target"). If a milestone was achieved at a rate below the Maximum Performance Target, or was not achieved, the corresponding portion of the PSUs that did not vest would be forfeited.
Footnote F5
Vested PSUs settled into shares of the Issuer's Common Stock on December 25, 2024.
Footnote F6
Represents the forfeiture of unearned PSUs for the Performance Period ending April 30, 2025.