SEC Form 4 · accession 0000896841-17-000026
AVID TECHNOLOGY, INC. · AVID
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Louis Hernandez Jr.
Officer — Chairman & CEO · Director
Period of report
Mar 8, 2017
Accepted (ET)
Mar 10, 2017 · 4:23 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000896841
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Mar 8, 2017 | A | 294,117 | $0.00 | A | 778,272 | D | |
| Common StockF3,F2 | Mar 9, 2017 | F | 3,921 | $5.04 | D | 774,351 | D | |
| Common StockF4,F2 | Mar 9, 2017 | F | 22,568 | $5.04 | D | 751,783 | D | |
| Common Stock | holding | — | — | — | 319,000 | I | By BD Capital Partners GP, LLC |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents an award of restricted stock units ("RSUs") that will vest on a time-based vesting schedule as follows: 33.33% on the first anniversary of the grant date of March 08, 2017, and the remaining 66.66% in equal 8.33% installments every 3 months thereafter, provided the reporting person continues to be employed by Avid Technology, Inc. (the "Issuer") on each such vesting date. Each RSU 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.
- F2Includes shares acquired under the Issuer's Employee Stock Purchase Plan based upon the most current data available.
- F3Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 9, 2017 of 8.33% of the restricted stock units awarded on March 9, 2015. This award includes a provision requiring the withholding of shares by the Issuer to pay the withholding taxes due on the vesting date.
- F4Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 9, 2017 of 33.34% of the restricted stock units awarded on March 9, 2016. This award includes a provision requiring the withholding of shares by the Issuer to pay the withholding taxes due on the vesting date.