Form 4: Avid Bioservices Executive Matthew Kwietniak Reports Stock Transactions
SEC Form 4
Matthew Kwietniak, Chief Commercial Officer of Avid Bioservices, reports the acquisition and disposal of common stock and restricted stock units.
Summary
- On October 9, 2024, Matthew Kwietniak acquired 2,763 shares of common stock through the vesting of restricted stock units.
- On October 10, 2024, Kwietniak sold 982 shares of common stock at a price of $10.05 per share to satisfy tax withholding obligations related to the vesting of RSUs.
- The transactions involved RSUs granted on July 9, 2022, July 9, 2023, and July 9, 2024, which vest in sixteen equal quarterly installments.
- Following these transactions, Kwietniak directly owns 25,191 shares of common stock and 75,447 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in the biopharmaceutical industry.
Stakeholder Impact
- The transactions have a minimal impact on stakeholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| July 9, 2022 | Date of grant for some of the restricted stock units that vest quarterly beginning October 9, 2022. |
| July 9, 2023 | Date of grant for some of the restricted stock units that vest quarterly beginning October 9, 2023. |
| July 9, 2024 | Date of grant for some of the restricted stock units that vest quarterly beginning October 9, 2024. |
| October 9, 2024 | Date of transaction involving acquisition of common stock through RSU vesting. |
| October 10, 2024 | Date of transaction involving the sale of common stock to cover tax obligations. |
| October 11, 2024 | Date of signature for the Form 4 filing. |
Keywords
Avid Bioservices, CDMO, Matthew Kwietniak, Form 4, Stock Transactions, Restricted Stock Units, Beneficial Ownership, Officer, Chief Commercial Officer
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