4//SEC Filing
Ziebell Mark R 4
Accession 0001683168-24-004765
CIK 0000704562other
Filed
Jul 10, 8:00 PM ET
Accepted
Jul 11, 5:02 PM ET
Size
9.3 KB
Accession
0001683168-24-004765
Insider Transaction Report
Form 4
Ziebell Mark R
VP and General Counsel
Transactions
- Exercise/Conversion
Restricted Stock Units
2024-07-09+34,226→ 69,092 totalFrom: 2024-10-09→ Common Stock (34,226 underlying) - Exercise/Conversion
Performance Stock Units
2024-07-09+68,452→ 142,797 totalFrom: 2025-04-30→ Common Stock (68,452 underlying)
Footnotes (4)
- [F1]Each performance stock unit ("PSU") represents the contingent right to receive, upon vesting, one share of the Issuer's Common Stock.
- [F2]Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting, one share of the Issuer's Common Stock.
- [F3]The vesting of the PSUs granted to the reporting person on July 9, 2024 is subject to the Issuer achieving certain fiscal year revenue and adjusted pre-tax net income milestones, each weighted 50%, over three (3) fiscal year performance periods beginning with the Issuer's fiscal year ending April 30, 2025 and continuing through the fiscal year ending April 30, 2027 (each a "Performance Period"). Subject to the Issuer attaining the applicable fiscal year milestones, 1/3rd of the PSUs will 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 listed is based on a maximum 200% achievement of each milestone during each Performance Period (the "Maximum Performance Target"). If a milestone is achieved at a rate below the Maximum Performance Target, or is not achieved, the corresponding portion of the PSUs that do not vest are forfeited.
- [F4]RSUs granted to the reporting person on July 9, 2024, vest in sixteen (16) equal quarterly installments over a four (4) year period beginning October 9, 2024, and each quarter thereafter until fully-vested, subject to the reporting person's continuous service to the Issuer on such vesting dates.
Documents
Issuer
Avid Bioservices, Inc.
CIK 0000704562
Entity typeother
Related Parties
1- filerCIK 0001552642
Filing Metadata
- Form type
- 4
- Filed
- Jul 10, 8:00 PM ET
- Accepted
- Jul 11, 5:02 PM ET
- Size
- 9.3 KB