13G Filing: Cove Street Capital and Avid Technology Inc. (AVID)

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Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Cove Street Capital 5,643,187 822,388 5,643,187 822,388 6,465,575 15.72%

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Page 1 of 3 – SEC Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 4)*

Avid Technology, Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

05367P100

(CUSIP Number)

Merihan Tynan
Cove Street Capital, LLC
2101 E. El Segundo Blvd, Suite 302
El Segundo, CA 90245

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

August 11, 2017

(Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
X  Rule 13d-1(b)
¨  Rule 13d-1(c)
¨  Rule 13d-1(d)

* The remainder of this cover page shall be
filled out for a reporting person’s initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page
shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934
(“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all
other provisions of the Act (however, see the Notes).

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Page 2 of 3 – SEC Filing

CUSIP No. 05367P100 13G Page 2 of 3 Pages

Item 1.

(a) Name of Issuer
Avid Technology, Inc.
(b) Address of Issuer’s Principal Executive Offices
65-75 Network Drive, Burlington, MA 01803

Item 2.

(a) Name of Person Filing
Cove Street Capital, LLC
(b) Address of the Principal Office or, if none, residence
2101 E. El Segundo Blvd. Suite 302 El Segundo, CA 90245
(c) Citizenship
Delaware
(d) Title of Class of Securities
Common Stock
(e) CUSIP Number
05367P100

Item 3.  If this statement is filed pursuant
to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
(b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
(d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) X An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
(f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
(g) ¨ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
(h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j) ¨ Group, in accordance with §240.13d-1(b)(1)(ii)(J).

Item 4.  Ownership.

Provide the following information regarding the aggregate number and percentage of the
class of securities of the issuer identified in Item 1.

(a) Amount beneficially owned:  6,465,575
(b) Percent of class:  15.72%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote  5,643,187
(ii) Shared power to vote or to direct the vote  822,388
(iii) Sole power to dispose or to direct the disposition of   5,643,187
(iv) Shared power to dispose or to direct the disposition of  822,388

Instruction. For computations regarding securities which represent a right to
acquire an underlying security see §240.13d-3(d)(1).

Item 5.  Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof the reporting person has
ceased to be the beneficial owner of more than five percent of the class of securities,
check the following     ¨.

Instruction. Dissolution of a group requires a response to this item.

Item 6.  Ownership of More than Five Percent
on Behalf of Another Person.

N/A

Item 7.  Identification and Classification of the
Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.

N/A

Item 8.  Identification and Classification of Members of the Group.

N/A

Item 9.  Notice of Dissolution of Group.

N/A

Item 10.  Certification.

(a) The following certification shall be included if the statement is filed pursuant to §240.13d-1(b):
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were
acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or
with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are
not held in connection with or as a participant in any transaction having that purpose or effect.
(b) The following certification shall be included if the statement is filed pursuant to
§240.13d-1(c):
By signing below I certify that, to the best of my knowledge and belief, the securities referred to
above were not acquired and are not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.

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Page 3 of 3 – SEC Filing

CUSIP No. 05367P100

13G Page 2 of 3 Pages

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information
set forth in this statement is true, complete and correct.

08/14/2017

Date

/s/ Merihan Tynan

Signature

Director of Operations

Name/Title

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