Form 4: Avid Bioservices CFO Daniel R. Hart Reports Stock Transactions
SEC Form 4
Daniel R. Hart, CFO of Avid Bioservices, Inc., reported the vesting of restricted stock units and subsequent acquisition of common stock on April 9, 2024.
Summary
- On April 9, 2024, Daniel R. Hart, the Chief Financial Officer of Avid Bioservices, Inc. (CDMO), reported transactions involving restricted stock units (RSUs) and common stock.
- Hart acquired 1,520 shares of common stock upon the vesting of RSUs granted on July 9, 2021.
- He also acquired 2,102 shares of common stock upon the vesting of RSUs granted on July 9, 2022.
- Additionally, Hart acquired 2,120 shares of common stock upon the vesting of RSUs granted on July 9, 2023.
- Following these transactions, Hart directly owns 85,047 shares of Avid Bioservices common stock and 58,923 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, so the sentiment is neutral. It reflects standard compensation practices.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency regarding the holdings and transactions of company insiders.
Stakeholder Impact
- The transactions have a minor dilutive effect on existing shareholders due to the issuance of new shares upon RSU vesting.
- The transactions align management's interests with those of shareholders through equity ownership.
Key Dates
| Date | Description |
|---|---|
| July 9, 2021 | Date of grant for 1,520 RSUs vesting quarterly over four years. |
| October 9, 2021 | Vesting start date for RSUs granted on July 9, 2021. |
| July 9, 2022 | Date of grant for 2,102 RSUs vesting quarterly over four years. |
| October 9, 2022 | Vesting start date for RSUs granted on July 9, 2022. |
| July 9, 2023 | Date of grant for 2,120 RSUs vesting quarterly over four years. |
| October 9, 2023 | Vesting start date for RSUs granted on July 9, 2023. |
| April 9, 2024 | Date of transaction: vesting of RSUs and acquisition of common stock. |
| April 11, 2024 | Date of signature for the Form 4 filing. |
Keywords
Avid Bioservices, CDMO, Daniel R. Hart, CFO, Form 4, Stock Transaction, Restricted Stock Units, Common Stock, Beneficial Ownership
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.