0001270266-14-000010.txt : 20141117
0001270266-14-000010.hdr.sgml : 20141117
20141117171048
ACCESSION NUMBER: 0001270266-14-000010
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20141113
FILED AS OF DATE: 20141117
DATE AS OF CHANGE: 20141117
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: AVID TECHNOLOGY, INC.
CENTRAL INDEX KEY: 0000896841
STANDARD INDUSTRIAL CLASSIFICATION: PHOTOGRAPHIC EQUIPMENT & SUPPLIES [3861]
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
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: HERNANDEZ LOUIS JR
CENTRAL INDEX KEY: 0001270266
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-36254
FILM NUMBER: 141228651
MAIL ADDRESS:
STREET 1: AVID
STREET 2: 75 NETWORK DRIVE
CITY: BURLINGTON
STATE: MA
ZIP: 01803
4
1
edgar.xml
PRIMARY DOCUMENT
X0306
4
2014-11-13
0000896841
AVID TECHNOLOGY, INC.
AVID
0001270266
HERNANDEZ LOUIS JR
AVID TECHNOLOGY, INC.
75 NETWORK DRIVE
BURLINGTON
MA
01803
1
1
0
0
President, CEO & Chairman
Common Stock
2014-11-13
4
A
0
93000
0
A
193706
D
Employee Stock Option (Right to Buy)
7.87
2014-11-13
4
A
0
246094
0
A
2020-02-11
Common Stock
246094
246094
D
Employee Stock Option (Right to Buy)
7.87
2014-11-13
4
A
0
191406
0
A
2020-02-11
Common Stock
191406
191406
D
Represents an award of restricted stock units ( "RSUs") that will vest on a time-based vesting schedule as follows: 33.33% on the first anniversary of the vesting start date of February 12, 2014, and the remaining 66.66% in equal 8.25% installments every 3 months thereafter, provided the reporting person continues to be employed by Avid Technology, Inc. (the "Issuer") on each such vesting date. Each RSU represents the contingent right to receive 1 share of the Issuer's common stock. This award includes a provision for the withholding of shares by the Issuer to pay the withholding taxes due on each such vesting date.
The vest start date of February 12, 2014 for this award has been determined by the Compensation Committee of the Issuer's Board of Directors (the "Committee") to reflect the fact that such award would have been granted in the first quarter of 2014, were it not for the Issuer's restatement process and the fact that the Issuer was not current in its filing obligations under the Securities Exchange Act of 1934 (the "Exchange Act").
Represents the unvested portion of a stock option award originally granted to the reporting person on February 11, 2013 (the "Original Grant Date"). Vesting of the stock options was originally subject to the achievement of certain performance criteria. On November 12, 2014 the Committee made a determination to change the stock options from performance-based vesting to time based vesting. The stock options are vesting on a time-based vesting schedule over the course of four years as follows: 25% vesting at the first anniversary of the Original Grant Date and the remaining 75% vesting in equal quarterly installments thereafter, provided the reporting person continues to be employed by the Issuer on each such vesting date.
Represents the vested portion of a stock option award originally granted to the reporting person on the Original Grant Date. Vesting of the stock options was originally subject to the achievement of certain performance criteria. On November 12, 2014 the Committee made a determination to change the stock options from performance-based vesting to time based vesting. The stock options are vesting on a time-based vesting schedule as follows: 25% vesting at the first anniversary of the Original Grant Date and the remaining 75% vesting in equal quarterly installments thereafter, provided the reporting person continues to be employed by the Issuer on each such vesting date.
/s/ Jason A. Duva as Attorney-in-Fact for Louis Hernandez, Jr.
2014-11-17