Kwietniak Matthew R. 4
4 · Avid Bioservices, Inc. · Filed Feb 7, 2025
Insider Transaction Report
Form 4
Kwietniak Matthew R.
Chief Commercial Officer
Transactions
- Disposition to Issuer
Restricted Stock Units
2025-02-05−58,018→ 0 totalExercise: $0.00→ Common Stock (58,018 underlying) - Disposition to Issuer
Performance Stock Units
2025-02-05−881→ 77,454 totalExercise: $0.00→ Common Stock (881 underlying) - Disposition to Issuer
Performance Stock Units
2025-02-05−77,454→ 0 totalExercise: $0.00→ Common Stock (77,454 underlying) - Disposition to Issuer
Restricted Stock Units
2025-02-05−7,794→ 58,018 totalExercise: $0.00→ Common Stock (7,794 underlying) - Disposition to Issuer
Common Stock, $0.001 par value
2025-02-05−50,796→ 0 total
Footnotes (8)
- [F1]Represents shares of common stock that were disposed of at the effective time (the "Effective Time") of the merger (the "Merger") of Space Mergerco, Inc. ("Merger Sub") with and into Avid Bioservices, Inc. (the "Issuer") pursuant to the Agreement and Plan of Merger, dated as of November 6, 2024 (the "Merger Agreement"), by and among the Issuer, Space Finco, Inc., and Merger Sub.
- [F2]At the Effective Time, each outstanding share of common stock was cancelled and converted into the right to receive a cash payment per share of $12.50, without interest, subject to the terms and conditions of the Merger Agreement (the "Merger Consideration").
- [F3]Represents restricted stock units ("RSUs") that were disposed of at the Effective Time of the Merger of Merger Sub with and into the Issuer pursuant to the Merger Agreement, by and among the Issuer, Space Finco, Inc., and Merger Sub.
- [F4]At the Effective Time, each fully vested RSU was cancelled and converted solely into the right to receive a cash payment of $12.50 per share of common stock subject to such vested RSU, without interest, subject to the terms and conditions of the Merger Agreement.
- [F5]At the Effective Time, each unvested RSU was cancelled and converted solely into the right to receive a cash payment of $12.50 per share of common stock subject to such unvested RSU, without interest, subject to the terms and conditions of the Merger Agreement.
- [F6]Represents performance stock units ("PSUs") that were disposed of at the Effective Time of the Merger of Merger Sub with and into the Issuer pursuant to the Merger Agreement, by and among the Issuer, Space Finco, Inc., and Merger Sub.
- [F7]At the Effective Time, each fully vested PSU was cancelled and converted solely into the right to receive a cash payment of $12.50 per share of common stock subject to such vested PSU, without interest, subject to the terms and conditions of the Merger Agreement.
- [F8]At the Effective Time, each unvested PSU was cancelled and converted solely into the right to receive a cash payment of $12.50 per share of common stock that such unvested PSU would settle for at the greater of target performance and actual performance (determined as of the end of the fiscal quarter immediately preceding the Effective Time, without interest, subject to the terms and conditions of the Merger Agreement.