Richard A. Richieri - 09 Jan 2025 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 Jan 2025
Net transactions value: -$30,715
Form type: 4
Filing time: 13 Jan 2025, 19:33:16 UTC
Previous filing: 02 Jan 2025
Next filing: 07 Feb 2025
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		+5,507	+12%		51,818	09 Jan 2025	Direct	F1
transaction	CDMO	Common Stock, $0.001 par value	Sale	$28,241	-2,283	-4.4%	$12.37	49,535	10 Jan 2025	Direct	F2
transaction	CDMO	Common Stock, $0.001 par value	Options Exercise		+464	+5.4%		8,985	09 Jan 2025	By Spouse	F1
transaction	CDMO	Common Stock, $0.001 par value	Sale	$2,474	-200	-2.2%	$12.37	8,785	10 Jan 2025	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	Disposed to Issuer	$0	-506	-0.78%	$0.000000	64,213	09 Jan 2025	Common Stock	506		Direct	F1, F3
transaction	CDMO	Restricted Stock Units	Disposed to Issuer	$0	-946	-1.5%	$0.000000	63,267	09 Jan 2025	Common Stock	946		Direct	F1, F4
transaction	CDMO	Restricted Stock Units	Disposed to Issuer	$0	-1,060	-1.7%	$0.000000	62,207	09 Jan 2025	Common Stock	1,060		Direct	F1, F5
transaction	CDMO	Restricted Stock Units	Disposed to Issuer	$0	-2,995	-4.8%	$0.000000	59,212	09 Jan 2025	Common Stock	2,995		Direct	F1, F6
transaction	CDMO	Restricted Stock Units	Disposed to Issuer	$0	-40	-0.76%	$0.000000	5,241	09 Jan 2025	Common Stock	40		By Spouse	F1, F3
transaction	CDMO	Restricted Stock Units	Disposed to Issuer	$0	-83	-1.6%	$0.000000	5,158	09 Jan 2025	Common Stock	83		By Spouse	F1, F4
transaction	CDMO	Restricted Stock Units	Disposed to Issuer	$0	-132	-2.6%	$0.000000	5,026	09 Jan 2025	Common Stock	132		By Spouse	F1, F5
transaction	CDMO	Restricted Stock Units	Disposed to Issuer	$0	-209	-4.2%	$0.000000	4,817	09 Jan 2025	Common Stock	209		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 sold by the reporting person and/or reporting person's spouse pursuant to a contractual election to satisfy tax withholding obligations in connection with the vesting and release of the RSUs described in footnotes 3, 4, 5 and 6. This sale does not represent a discretionary trade by the reporting person and/or the reporting person's spouse.
F3	RSUs granted to the reporting person and/or 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 continuous service to the Issuer on such vesting dates.
F4	RSUs granted to the reporting person and/or 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 continuous service to the Issuer on such vesting dates.
F5	RSUs granted to the reporting person and/or 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 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, 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 and/or the reporting person's spouse's continuous service to the Issuer on such vesting dates.