SEC Form 4 · accession 0001651536-15-000003
AVID TECHNOLOGY, INC. · AVID
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dana Ruzicka
Officer — Chief Products Officer
Period of report
Aug 24, 2015
Accepted (ET)
Aug 26, 2015 · 4:43 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 StockF1 | Aug 26, 2015 | A | 26,247 | $0.00 | A | 103,151 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Rights (Restricted Stock Units)F2 | — | Aug 26, 2015 | A | 26,247 | A | — | Jan 1, 2018 | Common Stock | 26,247 | 26,247 | D |
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 August 24, 2015, 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 for the withholding of shares by the Issuer to pay the withholding taxes due on each such vesting date.
- F2Represents an award of RSUs that will vest on a performance-based schedule tied to AVID's stock price in 2015, 2016 or 2017 or the achievement of certain financial metrics in 2015. Each RSU 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 withholding taxes due on each such vesting date.