Form 4: Avid Bioservices Executive Matthew Kwietniak Reports Stock Transactions
SEC Form 4 Filing
Chief Commercial Officer Matthew R. Kwietniak reports acquisition and disposal of Avid Bioservices stock units to satisfy tax obligations.
Summary
- Matthew R. Kwietniak, Chief Commercial Officer of Avid Bioservices, Inc., filed a Form 4 detailing changes in beneficial ownership.
- On July 11, 2024, Kwietniak acquired 335 shares of common stock through the vesting of restricted stock units (RSUs).
- Also on July 12, 2024, Kwietniak disposed of 119 shares of common stock at a price of $8.05 to satisfy tax withholding obligations related to the vesting of RSUs.
- Following these transactions, Kwietniak directly owns 22,836 shares of Avid Bioservices common stock and 78,210 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by a company executive, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding insider trading activity.
Key Dates
| Date | Description |
|---|---|
| October 11, 2021 | Date of grant for the restricted stock units, vesting over four years. |
| January 11, 2023 | Start date for the remaining balance of RSUs to vest in twelve equal quarterly installments. |
| July 11, 2024 | Date of RSU vesting and acquisition of 335 shares. |
| July 12, 2024 | Date of sale of 119 shares at $8.05 to cover tax obligations. |
| July 15, 2024 | Date of Form 4 filing. |
Keywords
Avid Bioservices, CDMO, Matthew Kwietniak, Form 4, Beneficial Ownership, Stock Transaction, Restricted Stock Units, RSU, Tax Withholding
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