Form 4: Avid Bioservices CEO Nicholas Green Reports Stock Transactions
SEC Form 4
Nicholas Green, President & CEO of Avid Bioservices, reports the vesting of restricted stock units and subsequent acquisition of common stock.
Summary
- On April 9, 2024, Nicholas Green, the President & CEO of Avid Bioservices, Inc., reported transactions involving restricted stock units (RSUs) converting into common stock.
- These transactions involved the vesting of 5,573, 8,826, and 8,478 RSUs, which converted into an equivalent number of shares of common stock.
- Following these transactions, Green directly owns 215,368 shares of Avid Bioservices common stock and 255,015 restricted stock units.
- The RSUs were granted on July 9 of 2021, 2022 and 2023 and vest quarterly over four years, contingent upon continuous service.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions related to executive compensation.
Positives
- The vesting of RSUs indicates that the CEO is meeting the service requirements of his equity grants.
Industry Context
This is a routine disclosure related to executive compensation and is typical for publicly traded companies.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the planned dilution from equity compensation.
Key Dates
| Date | Description |
|---|---|
| 07/09/2021 | RSUs granted to Nicholas Green, vesting quarterly over four years. |
| 10/09/2021 | First vesting date for RSUs granted on July 9, 2021. |
| 07/09/2022 | RSUs granted to Nicholas Green, vesting quarterly over four years. |
| 10/09/2022 | First vesting date for RSUs granted on July 9, 2022. |
| 07/09/2023 | RSUs granted to Nicholas Green, vesting quarterly over four years. |
| 10/09/2023 | First vesting date for RSUs granted on July 9, 2023. |
| 04/09/2024 | Date of RSU vesting and common stock acquisition. |
| 04/11/2024 | Date of Form 4 filing. |
Keywords
Avid Bioservices, CDMO, Nicholas Green, Stock, RSU, Restricted Stock Units, Form 4, Insider Trading
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