0000905148-23-001320.txt : 20231107
0000905148-23-001320.hdr.sgml : 20231107
20231107164240
ACCESSION NUMBER: 0000905148-23-001320
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20231107
FILED AS OF DATE: 20231107
DATE AS OF CHANGE: 20231107
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Bakish Robert M
CENTRAL INDEX KEY: 0001347876
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-36254
FILM NUMBER: 231384669
MAIL ADDRESS:
STREET 1: AVID TECHNOLOGY, INC.
STREET 2: 75 NETWORK DRIVE
CITY: BURLINGTON
STATE: MA
ZIP: 01803
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: AVID TECHNOLOGY, INC.
CENTRAL INDEX KEY: 0000896841
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372]
IRS NUMBER: 042977748
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 75 NETWORK DRIVE
CITY: BURLINGTON
STATE: MA
ZIP: 01803
BUSINESS PHONE: 978-640-6789
MAIL ADDRESS:
STREET 1: 75 NETWORK DRIVE
CITY: BURLINGTON
STATE: MA
ZIP: 01803
FORMER COMPANY:
FORMER CONFORMED NAME: AVID TECHNOLOGY INC
DATE OF NAME CHANGE: 19930203
4
1
form4.xml
X0508
4
2023-11-07
true
0000896841
AVID TECHNOLOGY, INC.
AVID
0001347876
Bakish Robert M
75 BLUE SKY DRIVE
BURLINGTON
MA
01803
true
false
Common Stock
2023-11-07
4
D
0
684732
27.05
D
6203
D
Common Stock
2023-11-07
4
D
0
6203
27.05
D
0
D
Common Stock
2023-11-07
4
D
0
27000
27.05
D
0
I
By Daughter
Pursuant to the Agreement and Plan of Merger, dated as of August 9, 2023 (the "Merger Agreement"), by and among the Issuer, Artisan Bidco, Inc., a Delaware corporation ("Parent"), and Artisan Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Parent ("Merger Sub"), effective November 7, 2023, among other things, Merger Sub merged with and into the Issuer, with the Issuer surviving as a wholly-owned subsidiary of Parent (the "Merger").
Pursuant to the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each share of the Issuer's common stock ("Common Stock") issued and outstanding immediately prior to the Effective Time was cancelled and automatically converted into the right to receive $27.05 in cash, subject to any required tax withholding in accordance with the terms of the Merger Agreement.
Pursuant to the Merger Agreement, at the Effective Time, each unvested restricted stock unit ("RSU") award, including each unvested award of performance-based RSUs, was automatically cancelled and converted solely into the contingent right to receive a cash payment equal to the product of (i) the number of RSUs subject to such unvested RSU award immediately prior to the Effective Time multiplied by (ii) $27.05, with such converted cash award generally subject to the same vesting terms and conditions that applied to the corresponding RSU prior to the Effective Time, with payment forfeited to the extent vesting is not satisfied, except if the holder's service is terminated without cause.
The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein.
/s/ Jacob Adams as Attorney-in-Fact for Robert M Bakish
2023-11-07