0001683168-24-004765.txt : 20240711
0001683168-24-004765.hdr.sgml : 20240711
20240711170239
ACCESSION NUMBER: 0001683168-24-004765
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240709
FILED AS OF DATE: 20240711
DATE AS OF CHANGE: 20240711
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Ziebell Mark R
CENTRAL INDEX KEY: 0001552642
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-32839
FILM NUMBER: 241112601
MAIL ADDRESS:
STREET 1: 14282 FRANKLIN AVENUE
CITY: TUSTIN
STATE: CA
ZIP: 92780
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Avid Bioservices, Inc.
CENTRAL INDEX KEY: 0000704562
STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834]
ORGANIZATION NAME: 03 Life Sciences
IRS NUMBER: 953698422
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0430
BUSINESS ADDRESS:
STREET 1: 14191 MYFORD ROAD
CITY: TUSTIN
STATE: CA
ZIP: 92780
BUSINESS PHONE: 714.508.6100
MAIL ADDRESS:
STREET 1: 14191 MYFORD ROAD
CITY: TUSTIN
STATE: CA
ZIP: 92780
FORMER COMPANY:
FORMER CONFORMED NAME: PEREGRINE PHARMACEUTICALS INC
DATE OF NAME CHANGE: 20001109
FORMER COMPANY:
FORMER CONFORMED NAME: TECHNICLONE CORP/DE/
DATE OF NAME CHANGE: 19970924
FORMER COMPANY:
FORMER CONFORMED NAME: TECHNICLONE INTERNATIONAL CORP
DATE OF NAME CHANGE: 19920703
4
1
ownership.xml
X0508
4
2024-07-09
0
0000704562
Avid Bioservices, Inc.
CDMO
0001552642
Ziebell Mark R
14191 MYFORD ROAD
TUSTIN
CA
92780
0
1
0
0
V. P., General Counsel
0
Performance Stock Units
2024-07-09
4
M
0
68452
0.0000
A
2025-04-30
Common Stock
68452
142797
D
Restricted Stock Units
2024-07-09
4
M
0
34226
0.0000
A
2024-10-09
Common Stock
34226
69092
D
Each performance stock unit ("PSU") represents the contingent right to receive, upon vesting, one share of the Issuer's Common Stock.
Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting, one share of the Issuer's Common Stock.
The vesting of the PSUs granted to the reporting person on July 9, 2024 is subject to the Issuer achieving certain fiscal year revenue and adjusted pre-tax net income milestones, each weighted 50%, over three (3) fiscal year performance periods beginning with the Issuer's fiscal year ending April 30, 2025 and continuing through the fiscal year ending April 30, 2027 (each a "Performance Period"). Subject to the Issuer attaining the applicable fiscal year milestones, 1/3rd of the PSUs will vest on the last day of each fiscal year during the Performance Period, subject to the reporting person's continuous service to the Issuer on such vesting dates. The number of PSUs listed is based on a maximum 200% achievement of each milestone during each Performance Period (the "Maximum Performance Target"). If a milestone is achieved at a rate below the Maximum Performance Target, or is not achieved, the corresponding portion of the PSUs that do not vest are forfeited.
RSUs granted to the reporting person on July 9, 2024, vest in sixteen (16) equal quarterly installments over a four (4) year period beginning October 9, 2024, and each quarter thereafter until fully-vested, subject to the reporting person's continuous service to the Issuer on such vesting dates.
/s/ Mark R. Ziebell
2024-07-11