Form 4: Avid Bioservices VP Sells Shares to Cover Tax Obligations
SEC Form 4
Mark R. Ziebell, VP and General Counsel of Avid Bioservices, sold 1,643 shares of common stock on April 30, 2024, to satisfy tax withholding obligations related to vested restricted stock units.
Summary
- On April 30, 2024, Mark R. Ziebell, V.P., General Counsel of Avid Bioservices, Inc. sold 1,643 shares of common stock.
- The sale was executed at a weighted average price of $7.3993 per share, with individual sales prices ranging from $7.33 to $7.40.
- This transaction was to cover tax withholding obligations related to the vesting of restricted stock units (RSUs) on April 9, 2024.
- Following the transaction, Ziebell directly owns 64,834 shares of Avid Bioservices, Inc.
Sentiment
Score: 5
Explanation: Neutral sentiment as the transaction is a routine sale of shares to cover tax obligations.
Management Comments
- The sale does not represent a discretionary trade by the reporting person; it was to satisfy tax withholding obligations.
Industry Context
This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| 04/09/2024 | Restricted stock units vested. |
| 04/30/2024 | Sale of 1,643 shares by Mark R. Ziebell. |
| 05/02/2024 | Date of report. |
Keywords
Avid Bioservices, CDMO, Mark Ziebell, stock sale, Form 4, insider trading, restricted stock units, tax obligations
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