SEC Form 4 · accession 0001019687-16-006571
Avid Bioservices, Inc. · CDMO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark R Ziebell
Officer — VP and General Counsel
Period of report
Jun 2, 2016
Accepted (ET)
Jun 3, 2016 · 8:38 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.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F1 | $0.5001 | Jun 2, 2016 | A | 150,000 | A | Sep 2, 2016 | Jun 2, 2026 | Common Stock | 150,000 | 975,000 | D |
| 10.5% Series E Convertible Preferred StockF5,F2,F3,F4 | $3.00 | holding | — | — | — | — | — | Common Stock | 7,500 | 900 | D |
Explanation of responses
- F1This option vests in eight (8) equal quarterly installments over a two (2) year period beginning September 2, 2016 and each quarter thereafter until fully-vested.
- F2Each 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.
- F3The exercisable dates of the Series E Preferred stock is May 23, 2016 (600 shares) and May 24, 2016 (300 shares).
- F4The Series E Preferred Stock has no expiration date.
- F5As of the date of issuance (assuming no accrued and unpaid dividends and no adjustments to the conversion price), 900 shares of Series E Preferred Stock would have been convertible into 7,500 shares of Common Stock.