SEC Form 4 · accession 0001019687-16-006462

Avid Bioservices, Inc. · CDMO

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — V. P., General Counsel

Period of report

May 23, 2016

Accepted (ET)

May 24, 2016 · 7:44 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000704562

Table I — non-derivative securities

No Table I lines on this filing.

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
10.5% Series E Convertible Preferred Stock^F1,F2,F3	$3.00	May 23, 2016	P	300	A	May 23, 2016	—	Common Stock	2,500	300	D
10.5% Series E Convertible Preferred Stock^F1,F2,F3	$3.00	May 23, 2016	P	300	A	May 23, 2016	—	Common Stock	2,500	600	D
10.5% Series E Convertible Preferred Stock^F1,F2,F3	$3.00	May 24, 2016	P	300	A	May 24, 2016	—	Common Stock	2,500	900	D

F1Each share of 10.5% Series E Convertible Preferred Stock (the "Series E Preferred Stock") shall be convertible at any time at the option of the holder into that number of whole shares of common stock equal to $25.00 per share, plus accrued and unpaid dividends, divided by an initial conversion price of $3.00, as may be adjusted.
F2The Series E Preferred Stock has no expiration date.
F3As of the date of issuance (assuming no accrued and unpaid dividends and no adjustments to the conversion price), 300 shares of Series E Preferred Stock would have been convertible into 2,500 shares of Common Stock.