Form 4: Avid Bioservices CEO Nicholas Green Disposes of Shares, Options, and Stock Units Following Merger

Following the merger of Space Mergerco, Inc. with Avid Bioservices, Inc., CEO Nicholas Green disposed of his shares, options, restricted stock units (RSUs), and performance stock units (PSUs) for a cash payment of $12.50 per share.

Summary

• Nicholas Green, the President and CEO of Avid Bioservices, Inc., disposed of his holdings in the company following a merger.
• The merger involved Space Mergerco, Inc. merging with and into Avid Bioservices, Inc.
• The transaction occurred on February 5, 2025.
• Green disposed of 159,375 shares of common stock, 75,000 stock options, 54,455 restricted stock units, 308,486 restricted stock units, 11,755 performance stock units and 455,512 performance stock units.
• Each outstanding share of common stock was converted into the right to receive $12.50 in cash.
• Vested options were converted into the right to receive a cash payment based on the difference between the merger consideration and the exercise price.
• Both vested and unvested RSUs and PSUs were converted into the right to receive a cash payment of $12.50 per share.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it primarily reports the execution of a merger agreement and the subsequent disposal of securities. It's a factual account of transactions related to the merger.

Future Outlook

The document does not contain any specific forward-looking statements beyond the completion of the merger.

Industry Context

This announcement reflects a merger and acquisition event in the contract development and manufacturing organization (CDMO) industry. Such events can indicate consolidation trends or strategic shifts within the sector.

Key Dates

Keywords

Merger, Avid Bioservices, Nicholas Green, Form 4, Share Disposal, Stock Options, RSUs, PSUs, Space Mergerco, CDMO