0001683168-23-004598.txt : 20230630 0001683168-23-004598.hdr.sgml : 20230630 20230630201320 ACCESSION NUMBER: 0001683168-23-004598 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230628 FILED AS OF DATE: 20230630 DATE AS OF CHANGE: 20230630 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Ziebell Mark R CENTRAL INDEX KEY: 0001552642 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-32839 FILM NUMBER: 231063301 MAIL ADDRESS: STREET 1: 14282 FRANKLIN AVENUE CITY: TUSTIN STATE: CA ZIP: 92780 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Avid Bioservices, Inc. CENTRAL INDEX KEY: 0000704562 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 953698422 STATE OF INCORPORATION: DE FISCAL YEAR END: 0430 BUSINESS ADDRESS: STREET 1: 14191 MYFORD ROAD CITY: TUSTIN STATE: CA ZIP: 92780 BUSINESS PHONE: 714.508.6100 MAIL ADDRESS: STREET 1: 14191 MYFORD ROAD CITY: TUSTIN STATE: CA ZIP: 92780 FORMER COMPANY: FORMER CONFORMED NAME: PEREGRINE PHARMACEUTICALS INC DATE OF NAME CHANGE: 20001109 FORMER COMPANY: FORMER CONFORMED NAME: TECHNICLONE CORP/DE/ DATE OF NAME CHANGE: 19970924 FORMER COMPANY: FORMER CONFORMED NAME: TECHNICLONE INTERNATIONAL CORP DATE OF NAME CHANGE: 19920703 4 1 ownership.xml X0407 4 2023-06-28 0 0000704562 Avid Bioservices, Inc. CDMO 0001552642 Ziebell Mark R 14191 MYFORD ROAD TUSTIN CA 92780 0 1 0 0 V. P., General Counsel 0 Common Stock, $0.001 par value 2023-06-28 4 M 0 10513 A 50632 D Common Stock, $0.001 par value 2023-06-29 4 S 0 2377 12.7015 D 48255 D Common Stock, $0.001 par value 2023-06-30 4 S 0 1280 13.49 D 46975 D Performance Stock Units (FY 2022 Grant) 2023-06-28 4 M 0 3789 0 D Common Stock 3789 51421 D Performance Stock Units (FY 2022 Grant) 2023-06-28 4 D 0 3642 0 D Common Stock 3642 47779 D Performance Stock Units (FY 2023 Grant) 2023-06-28 4 M 0 6724 0 D Common Stock 6724 41055 D Performance Stock Units (FY 2023 Grant) 2023-06-28 4 D 0 6725 0 D Common Stock 6725 34330 D Each performance stock unit ("PSU") represents the contingent right to receive, upon vesting, one share of the Issuer's Common Stock. Represents the shares automatically sold by the reporting person pursuant to an election to satisfy tax withholding obligations in connection with the vesting of the PSUs described in footnote 4. This sale does not represent a discretionary trade by the reporting person. Represents a weighted average sales price per share. These shares were sold at prices ranging from $12.70 to $12.80. The Reporting Person has provided to the Issuer, and hereby undertakes to provide the SEC staff or a security holder of the Issuer, upon request, information regarding the number of shares sold at each respective price within the range set forth in this footnote. The PSUs granted to the reporting person vest based on 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 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 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 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. Vested PSUs settled into shares of the Issuer's Common Stock on the fifth business day following the chief financial officer's certification of the Issuer's achievement of the milestones for the Performance Period ended April 30, 2023. Represents the forfeiture of unearned PSUs for the Performance Period ended April 30, 2023. /s/ Mark R. Ziebell 2023-06-30