Richard A. Richieri - 09 Oct 2023 Form 4 Insider Report for Avid Bioservices, Inc. (CDMO)

Role: Chief Operations Officer
Signature: /s/ Stephen Hedberg, by Power of Attorney for Richard A. Richieri
Issuer symbol: CDMO
Transactions as of: 09 Oct 2023
Transactions value $: $-9,255
Form type: 4
Filing time: 11 Oct 2023, 19:59:05 UTC
Previous filing: 14 Jul 2023
Next filing: 03 Jan 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CDMO	Common Stock, $0.001 par value	Options Exercise		+506	+2.34%		22,165	09 Oct 2023	Direct	F1
transaction	CDMO	Common Stock, $0.001 par value	Options Exercise		+946	+4.27%		23,111	09 Oct 2023	Direct	F1
transaction	CDMO	Common Stock, $0.001 par value	Options Exercise		+1,059	+4.58%		24,170	09 Oct 2023	Direct	F1
transaction	CDMO	Common Stock, $0.001 par value	Sale	$-8,224	-894	-3.7%	$9.20	23,276	10 Oct 2023	Direct	F2, F3
transaction	CDMO	Common Stock, $0.001 par value	Options Exercise		+40	+0.99%		4,075	09 Oct 2023	By Spouse	F1
transaction	CDMO	Common Stock, $0.001 par value	Options Exercise		+83	+2.04%		4,158	09 Oct 2023	By Spouse	F1
transaction	CDMO	Common Stock, $0.001 par value	Options Exercise		+131	+3.15%		4,289	09 Oct 2023	By Spouse	F1
transaction	CDMO	Common Stock, $0.001 par value	Sale	$-1,030	-112	-2.61%	$9.20	4,177	10 Oct 2023	By Spouse	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CDMO	Restricted Stock Units	Options Exercise	$0	-506	-1.39%	$0.000000	35,897	09 Oct 2023	Common Stock	506		Direct	F1, F4
transaction	CDMO	Restricted Stock Units	Options Exercise	$0	-946	-2.64%	$0.000000	34,951	09 Oct 2023	Common Stock	946		Direct	F1, F5
transaction	CDMO	Restricted Stock Units	Options Exercise	$0	-1,059	-3.03%	$0.000000	33,892	09 Oct 2023	Common Stock	1,059		Direct	F1, F6
transaction	CDMO	Restricted Stock Units	Options Exercise	$0	-40	-1.12%	$0.000000	3,516	09 Oct 2023	Common Stock	40		By Spouse	F1, F4
transaction	CDMO	Restricted Stock Units	Options Exercise	$0	-83	-2.36%	$0.000000	3,433	09 Oct 2023	Common Stock	83		By Spouse	F1, F5
transaction	CDMO	Restricted Stock Units	Options Exercise	$0	-131	-3.82%	$0.000000	3,302	09 Oct 2023	Common Stock	131		By Spouse	F1, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting, one share of the Issuer's Common Stock.
F2	Represents the shares automatically sold by the reporting person and/or the reporting person's spouse pursuant to an election to satisfy tax withholding obligations in connection with the vesting of the RSUs described in footnotes 4, 5 and 6. This sale does not represent a discretionary trade.
F3	Represents a weighted average sales price per share. These shares were sold at prices ranging from $9.15 to $9.22. 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.
F4	RSUs granted to the reporting person and/or the reporting person's spouse on July 9, 2021, vest in sixteen (16) equal quarterly installments over a four (4) year period beginning October 9, 2021, and each quarter thereafter until fully-vested, subject to the continuous service to the Issuer on such vesting dates.
F5	RSUs granted to the reporting person and/or the reporting person's spouse on July 9, 2022, vest in sixteen (16) equal quarterly installments over a four (4) year period beginning October 9, 2022, and each quarter thereafter until fully-vested, subject to the continuous service to the Issuer on such vesting dates.
F6	RSUs granted to the reporting person and/or the reporting person's spouse on July 9, 2023, vest in sixteen (16) equal quarterly installments over a four (4) year period beginning October 9, 2023, and each quarter thereafter until fully-vested, subject to the continuous service to the Issuer on such vesting dates.