Form 4: Avid Bioservices Executive Matthew Kwietniak Reports Stock Unit Vesting
SEC Form 4
Matthew Kwietniak, Chief Commercial Officer of Avid Bioservices, Inc., reports the vesting of restricted stock units.
Summary
- On April 11, 2024, Matthew R. Kwietniak, Chief Commercial Officer of Avid Bioservices, Inc., had 669 restricted stock units (RSUs) vest.
- These RSUs convert into 669 shares of Avid Bioservices' common stock.
- Following the transaction, Kwietniak directly owns 23,030 shares of common stock and 31,896 derivative securities.
- The RSUs were granted on October 11, 2021, and vest over four years, with the remaining balance vesting in equal quarterly installments.
Sentiment
Score: 5
Explanation: This is a neutral event, reflecting routine compensation practices. It doesn't inherently signal positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the holdings and transactions of company insiders.
Stakeholder Impact
- The vesting of RSUs has a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 10/11/2021 | Date RSUs were granted to Matthew R. Kwietniak |
| 01/11/2023 | Start date of the remaining balance vest in twelve (12) equal quarterly installments |
| 04/11/2024 | Date of RSU vesting transaction |
| 04/12/2024 | Date of Form 4 filing |
Keywords
Avid Bioservices, CDMO, Matthew Kwietniak, Restricted Stock Units, RSU, Vesting, Form 4, Insider Trading
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