SEC Form 4 · accession 0001378848-16-000020
AVID TECHNOLOGY, INC. · AVID
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John W. Frederick
Other
Period of report
Aug 12, 2016
Accepted (ET)
Aug 16, 2016 · 8:48 pm EDT
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 Stock | Aug 12, 2016 | M | 43,953 | $7.87 | A | 131,505 | D | |
| Common StockF1 | Aug 12, 2016 | S | 43,953 | $8.77 | D | 87,552 | D | |
| Common Stock | Aug 12, 2016 | M | 8,860 | $7.87 | A | 96,412 | D | |
| Common StockF2 | Aug 12, 2016 | S | 8,860 | $8.76 | D | 87,552 | D | |
| Common Stock | Aug 12, 2016 | M | 100,000 | $7.87 | A | 187,552 | D | |
| Common StockF3 | Aug 12, 2016 | S | 100,000 | $8.87 | D | 87,552 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F4 | $7.87 | Aug 12, 2016 | M | 43,953 | D | May 11, 2013 | Nov 1, 2016 | Common Stock | 43,953 | 0 | D |
| Employee Stock Option (right to buy)F5 | $7.87 | Aug 12, 2016 | M | 8,860 | D | Feb 11, 2014 | Nov 1, 2016 | Common Stock | 8,860 | 0 | D |
| Employee Stock Option (right to buy)F6 | $7.87 | Aug 12, 2016 | M | 100,000 | D | Feb 11, 2014 | Nov 1, 2016 | Common Stock | 100,000 | 20,000 | D |
Explanation of responses
- F1The price reported in Column 4 of Table 1 is a weighted average price. The shares were sold on August 12, 2016 in multiple transactions at prices ranging from $8.70 to $8.80, 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.
- F2The price reported in Column 4 of Table 1 is a weighted average price. The shares were sold on August 12, 2016 in multiple transactions at prices ranging from $8.74 to $8.77, 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.
- F3The price reported in Column 4 of Table 1 is a weighted average price. The shares were sold on August 12, 2016 in multiple transactions at prices ranging from $8.79 to $8.90, 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.
- F4The option vests in equal 6.25% increments every three months, with the first vesting date on May 11, 2013, provided the Reporting Person is still employed by the Company on each such vesting date. The option was vested and exercisable on May 11, 2016.
- F5The option vests in equal 8.33% increments every three months, with the first vesting date on February 11, 2014, provided the Reporting Person is still employed by the Company on each such vesting date. The option was vested and exercisable on May 11, 2016.
- F6The option was vested and exercisable on February 11, 2014.