Filing Details
- Accession Number:
- 0000896841-21-000051
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2021-03-16 20:33:26
- Reporting Period:
- 2021-03-14
- Accepted Time:
- 2021-03-16 20:33:26
- 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 |
|---|---|---|---|---|---|---|---|
| 1651536 | Dana Ruzicka | 75 Network Drive Burlington MA 01803 | Svp & Gm Audio And Music | No | Yes | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock | Disposition | 2021-03-14 | 1,181 | $21.11 | 345,050 | No | 4 | F | Direct | |
| Common Stock | Disposition | 2021-03-15 | 1,709 | $21.75 | 343,341 | No | 4 | F | Direct | |
| Common Stock | Acquisiton | 2021-03-15 | 17,388 | $21.75 | 360,729 | No | 4 | M | Direct | |
| Common Stock | Acquisiton | 2021-03-15 | 8,694 | $0.00 | 369,423 | No | 4 | A | Direct | |
| Common Stock | Disposition | 2021-03-15 | 10,258 | $21.75 | 359,165 | No | 4 | F | Direct | |
| Common Stock | Disposition | 2021-03-15 | 6,838 | $21.75 | 352,327 | No | 4 | F | Direct | |
| Common Stock | Acquisiton | 2021-03-15 | 17,388 | $21.75 | 369,715 | No | 4 | M | Direct | |
| Common Stock | Acquisiton | 2021-03-15 | 8,694 | $0.00 | 378,409 | No | 4 | A | Direct | |
| Common Stock | Disposition | 2021-03-15 | 10,258 | $21.75 | 368,151 | No | 4 | F | Direct | |
| Common Stock | Acquisiton | 2021-03-15 | 14,942 | $0.00 | 383,093 | No | 4 | A | Direct | |
| Common Stock | Acquisiton | 2021-03-15 | 25,000 | $7.70 | 408,093 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2021-03-15 | 25,000 | $20.85 | 383,093 | No | 4 | S | Direct | |
| Common Stock | Disposition | 2021-03-16 | 18,309 | $22.25 | 364,784 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| 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 | |
| No | 4 | S | Direct |
Reported Derivative Transactions
| 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 | 17,388 | $0.00 | 17,388 | $21.75 |
| Common Stock | Performance Rights (Restricted Stock Units) | Acquisiton | 2021-03-15 | 14,942 | $0.00 | 14,942 | $0.00 |
| Common Stock | Employee Stock Option (Right to Buy) | Disposition | 2021-03-15 | 25,000 | $0.00 | 25,000 | $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 |
| 34,778 | 2021-03-15 | 2023-03-15 | No | 4 | M | Direct |
| 14,942 | 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.
- 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.
- The price reported in Column 4 of Table 1 is a weighted average price. The shares were sold on March 15, 2021 in multiple transactions at prices ranging from $20.44 to $21.14, inclusive. The reporting person undertakes to provide to any security holder of Avid Technology, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
- The price reported in Column 4 of Table 1 is a weighted average price. The shares were sold on March 16, 2021 in multiple transactions at prices ranging from $22.01 to $22.35, inclusive. The reporting person undertakes to provide to any security holder of Avid Technology, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
- 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.
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