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Filing Details

Accession Number:: 0000896841-21-000048
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-03-16 20:32:36
Reporting Period:: 2021-03-14

Accepted Time:: 2021-03-16 20:32:36
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
896841	Avid Technology Inc.	AVID	Services-Prepackaged Software (7372)	042977748

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1742545	A. J. Tom Cordiner	Pinewood Road, Iver Heath Buckinghamshire, England X0 SLO ONH	Chief Revenue Officer & Svp	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Disposition	2021-03-14	1,846	$21.11	216,550	No	4	F	Direct
Common Stock	Disposition	2021-03-15	2,042	$21.75	214,508	No	4	F	Direct
Common Stock	Acquisiton	2021-03-15	17,388	$21.75	231,896	No	4	M	Direct
Common Stock	Acquisiton	2021-03-15	8,694	$0.00	240,590	No	4	A	Direct
Common Stock	Disposition	2021-03-15	12,252	$21.75	228,338	No	4	F	Direct
Common Stock	Disposition	2021-03-15	8,796	$21.75	219,542	No	4	F	Direct
Common Stock	Acquisiton	2021-03-15	18,726	$21.75	238,268	No	4	M	Direct
Common Stock	Acquisiton	2021-03-15	9,363	$0.00	247,631	No	4	A	Direct
Common Stock	Disposition	2021-03-15	13,195	$21.75	234,436	No	4	F	Direct
Common Stock	Acquisiton	2021-03-15	17,241	$0.00	251,677	No	4	A	Direct
Common Stock	Acquisiton	2021-03-15	30,000	$7.70	281,677	No	4	M	Direct
Common Stock	Disposition	2021-03-15	30,000	$20.36	251,677	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	F	Direct
No	4	F	Direct
No	4	M	Direct
No	4	A	Direct
No	4	F	Direct
No	4	F	Direct
No	4	M	Direct
No	4	A	Direct
No	4	F	Direct
No	4	A	Direct
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Performance Rights (Restricted Stock Units)	Disposition	2021-03-15	17,388	$0.00	17,388	$21.75
Common Stock	Performance Rights (Restricted Stock Units)	Disposition	2021-03-15	18,726	$0.00	18,726	$21.75
Common Stock	Performance Rights (Restricted Stock Units)	Acquisiton	2021-03-15	17,241	$0.00	17,241	$0.00
Common Stock	Employee Stock Option (Right to Buy)	Disposition	2021-03-15	30,000	$0.00	30,000	$7.70

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
17,389	2021-03-15	2022-03-15	No	4	M	Direct
37,453	2021-03-15	2023-03-15	No	4	M	Direct
17,241		2024-03-15	No	4	A	Direct
0	2015-08-15	2021-08-15	No	4	M	Direct

Footnotes

Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 14, 2021 of 8.33% of the restricted stock units awarded on March 14, 2018. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
Includes shares acquired under the Issuer's Employee Stock Purchase Plan based upon the most current data available.
Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2021 of 8.33% of the restricted stock units awarded on March 15, 2019. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
Represents the number of shares issued as a result of the vesting of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2019 to March 15, 2021. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.
Represents the number of additional shares issued as a result of the vesting at 150% of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2019 to March 15, 2021. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.
Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2021 of the performance-based restricted stock units awarded on March 15, 2019. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2021 of 33.33% of the restricted stock units awarded on March 15, 2020. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
Represents the number of shares issued as a result of the vesting of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2020 to March 15, 2021. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.
Represents the number of additional shares issued as a result of the vesting at 150% of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2020 to March 15, 2021. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.
Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2021 of the performance-based restricted stock units awarded on March 15, 2020. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
Represents an award of restricted stock units that will vest on a time-based vesting schedule as follows: 33.33% on the first anniversary of the grant date of March 15, 2021, and the remaining 66.66% in equal 8.33% installments every 3 months thereafter, provided the reporting person continues to be employed by the Issuer on each such vesting date. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.
Represents an award of restricted stock units which vest on a performance-based schedule based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index in 2022, 2023 and 2024. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for the withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.
The option vests on a time-based schedule as follows: 33.33% vesting on the first anniversary of the vesting start date and 8.25% for each three-month period thereafter, provided the reporting person continues to be employed by Avid Technology, Inc. (the "Issuer") on each such vesting date. The option was fully vested and exercisable on August 15, 2017. The vesting start was determined by our compensation committee based on the date such grant would have been made in the absence of the restatement.