0001683168-24-004910.txt : 20240716 0001683168-24-004910.hdr.sgml : 20240716 20240716195020 ACCESSION NUMBER: 0001683168-24-004910 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240712 FILED AS OF DATE: 20240716 DATE AS OF CHANGE: 20240716 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Richieri Richard A. CENTRAL INDEX KEY: 0001976193 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-32839 FILM NUMBER: 241120745 MAIL ADDRESS: STREET 1: 14191 MYFORD ROAD 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] ORGANIZATION NAME: 03 Life Sciences 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 X0508 4 2024-07-12 0 0000704562 Avid Bioservices, Inc. CDMO 0001976193 Richieri Richard A. 14191 MYFORD ROAD TUSTIN CA 92780 0 1 0 0 Chief Operations Officer 0 Common Stock, $0.001 par value 2024-07-12 4 M 0 1469 A 34759 D Common Stock, $0.001 par value 2024-07-15 4 S 0 530 8.36 D 34229 D Common Stock, $0.001 par value 6957 I By spouse Performance Stock Units 2024-07-12 4 M 0 1469 0 D Common Stock 1469 128528 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 sold by the reporting person pursuant to a contractual election to satisfy tax withholding obligations in connection with the vesting and release of the PSUs described in footnote 4. This sale does not represent a discretionary trade by the reporting person. 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 following the chief financial officer's certification of the Issuer's achievement of the milestones for the Performance Period ended April 30, 2024. /s/ Stephen Hedberg, by Power of Attorney for Richard A. Richieri 2024-07-16