Form 4: Avid Bioservices COO Richard A. Richieri Reports Stock Transactions

Richard A. Richieri, Chief Operations Officer of Avid Bioservices, Inc., reports the acquisition and disposal of common stock and restricted stock units related to vesting and tax obligations.

Summary

• On July 10, 2024, Richard A. Richieri, the Chief Operations Officer of Avid Bioservices, Inc., engaged in transactions involving the company's common stock and restricted stock units (RSUs).
• He acquired 4,047 shares of common stock through the vesting of RSUs and disposed of 1,456 shares to satisfy tax withholding obligations at a price of $7.54 per share.
• Additionally, his spouse acquired 135 shares of common stock through RSU vesting and disposed of 59 shares for tax obligations at $7.54 per share.
• The RSUs, granted on July 10, 2020, vested in four equal annual installments, concluding on July 10, 2024.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment, as it simply reports facts.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities. It is standard practice for officers of publicly traded companies to report transactions in their company's stock.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
• The filing provides transparency to shareholders regarding insider trading activities.

Key Dates

Keywords

Avid Bioservices, CDMO, Richard A. Richieri, stock transactions, Form 4, restricted stock units, RSU, insider trading