# EDGAR Filing Document

**Accession Number:** 0000704562
**File Stem:** 0001683168-23-000161
**Filing Date:** 2023-1
**Character Count:** 7711
**Document Hash:** b17741ddea45bd447d6d8e92a15859fc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001683168-23-000161.hdr.sgml**: 20230111

**ACCESSION NUMBER**: 0001683168-23-000161

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230109

**FILED AS OF DATE**: 20230111

**DATE AS OF CHANGE**: 20230111

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Green Nicholas Stewart
- **CENTRAL INDEX KEY:** 0001817685

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32839
- **FILM NUMBER:** 23524637

**MAIL ADDRESS:**
- **STREET 1:** 2642 MICHELLE DRIVE
- **STREET 2:** SUITE 200
- **CITY:** TUSTIN
- **STATE:** CA
- **ZIP:** 92780
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Avid Bioservices, Inc.
- **CENTRAL INDEX KEY:** 0000704562
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 953698422
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**BUSINESS ADDRESS:**
- **STREET 1:** 14191 MYFORD ROAD
- **CITY:** TUSTIN
- **STATE:** CA
- **ZIP:** 92780
- **BUSINESS PHONE:** 714.508.6100

**MAIL ADDRESS:**
- **STREET 1:** 14191 MYFORD ROAD
- **CITY:** TUSTIN
- **STATE:** CA
- **ZIP:** 92780

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PEREGRINE PHARMACEUTICALS INC
- **DATE OF NAME CHANGE:** 20001109

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TECHNICLONE CORP/DE/
- **DATE OF NAME CHANGE:** 19970924

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TECHNICLONE INTERNATIONAL CORP
- **DATE OF NAME CHANGE:** 19920703

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Green Nicholas Stewart<br><sub>(Last) (First) (Middle)</sub><br>14191 MYFORD ROAD<br><sub>(Street)</sub><br>TUSTIN, CA 92780<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-01-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_President & CEO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Avid Bioservices, Inc. [ CDMO ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock, $0.001 par value | 2023-01-09 |  | M |  | 5573 | A | <sup>(1)</sup> | 83003 | D |  |
| Common Stock, $0.001 par value | 2023-01-09 |  | M |  | 8826 | A | <sup>(1)</sup> | 91829 | D |  |
| Common Stock, $0.001 par value | 2023-01-10 |  | S |  | 8100<sup>(2)</sup> | D | 14.4416<sup>(3)</sup> | 83729 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Restricted Stock Units | <sup>(1)</sup> | 2023-01-09 |  | M |  |  | 5573 | <sup>(4)</sup> | <sup>(4)</sup> | Common Stock | 5573 | $0 | 263128 | D |  |
| Restricted Stock Units | <sup>(1)</sup> | 2023-01-09 |  | M |  |  | 8826 | <sup>(5)</sup> | <sup>(5)</sup> | Common Stock | 8826 | $0 | 254302 | D |  |

---

### Footnotes:

(1) Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting, one share of the Issuer's Common Stock.

(2) Represents the shares automatically sold by the reporting person pursuant to an election to satisfy tax withholding obligations in connection with the vesting of the RSUs described in footnotes 4 and 5. This sale does not represent a discretionary trade by the reporting person.

(3) Represents a weighted average sales price per share. These shares were sold at prices ranging from $14.44 to $14.73. The Reporting Person has provided to the Issuer, and hereby undertakes to provide the SEC staff or a security holder of the Issuer, upon request, information regarding the number of shares sold at each respective price within the range set forth in this footnote.

(4) RSUs granted to the reporting person on July 9, 2021, vest in sixteen (16) equal quarterly installments over a four (4) year period beginning October 9, 2021 and each quarter thereafter until fully-vested, subject to the reporting person's continuous service to the Issuer on such vesting dates.

(5) RSUs granted to the reporting person on July 9, 2022, vest in sixteen (16) equal quarterly installments over a four (4) year period beginning October 9, 2022 and each quarter thereafter until fully-vested, subject to the reporting person's continuous service to the Issuer on such vesting dates.

**Signature:** /s/ Stephen Hedberg, by Power of Attorney for Nicholas S. Green  
**Date:** 2023-01-11

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**