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Rosica Jeff – ‘4’ for 11/7/23 re: Avid Technology, Inc.

On:  Tuesday, 11/7/23, at 4:45pm ET   ·   For:  11/7/23   ·   As:  Director and Officer   ·   Accession #:  905148-23-1328   ·   File #:  1-36254

Previous ‘4’:  ‘4’ on 9/19/23 for 9/15/23   ·   Latest ‘4’:  This Filing

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/07/23  Rosica Jeff                       4          Dir.,Off.   1:12K  Avid Technology, Inc.             Sidley Austin LLP/FA

Statement of Changes in Beneficial Ownership of Securities by an Insider   —   Form 4   —   SEA’34

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 4           Statement of Changes in Beneficial Ownership of     HTML     13K 
                Securities by an Insider -- form4.xml/5.8


        

This ‘4’ Document is an XML Data File that may be rendered in various formats:

  Form 4    –   Plain Text   –  SEC Website  –  EDGAR System  –    XML Data    –  <?xml?> File
 
 
SEC Info℠ rendering:  Statement of Changes in Beneficial Ownership of Securities by an Insider
 

The SEC has not released XSLT Stylesheets needed to render this File’s XML Data as a Form.

This is our “Plain Text” rendering:
 
                                                                                                                                                                                
Ownership Document
 
Schema Version:  X0508
Document Type:  4
Period of Report:  11/7/23
Not Subject to Section 16?  Yes
Issuer:
Issuer CIK:  896841
Issuer Name:  AVID TECHNOLOGY, INC.
Issuer Trading Symbol:  AVID
Reporting Owner:
Reporting Owner ID:
Owner CIK:  1566407
Owner Name:  Rosica Jeff
Reporting Owner Address:
Owner Street 1:  75 BLUE SKY DRIVE
Owner Street 2:
Owner City:  BURLINGTON
Owner State:  MA
Owner ZIP Code:  01803
Owner State Description:
Reporting Owner Relationship:
Is Director?  Yes
Is Officer?  Yes
Officer Title:  CEO & President
Aff 10b5 One?  No
Non-Derivative Table:
Non-Derivative Transaction:
Security Title:
Value:  Common Stock
Transaction Date:
Value:  11/7/23
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  D
Equity Swap Involved?  No
Footnote ID:  F1
Footnote ID:  F2
Transaction Amounts:
Transaction Shares:
Value:  1,138,125
Transaction Price Per Share:
Value:  27.05
Footnote ID:  F1
Footnote ID:  F2
Transaction Acquired-Disposed Code:
Value:  D
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  87,690
Ownership Nature:
Direct or Indirect Ownership:
Value:  D
Non-Derivative Transaction:
Security Title:
Value:  Common Stock
Transaction Date:
Value:  11/7/23
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  D
Equity Swap Involved?  No
Footnote ID:  F1
Footnote ID:  F3
Transaction Amounts:
Transaction Shares:
Value:  87,690
Transaction Price Per Share:
Value:  27.05
Footnote ID:  F1
Footnote ID:  F3
Transaction Acquired-Disposed Code:
Value:  D
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  0
Ownership Nature:
Direct or Indirect Ownership:
Value:  D
Derivative Table:
Derivative Transaction:
Security Title:
Value:  Performance Rights (Restricted Stock Units)
Conversion or Exercise Price:
Footnote ID:  F4
Transaction Date:
Value:  11/7/23
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  D
Equity Swap Involved?  No
Footnote ID:  F1
Footnote ID:  F3
Transaction Amounts:
Transaction Shares:
Value:  17,241
Transaction Price Per Share:
Footnote ID:  F1
Footnote ID:  F3
Transaction Acquired-Disposed Code:
Value:  D
Exercise Date:
Footnote ID:  F1
Footnote ID:  F3
Expiration Date:
Value:  3/15/24
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  17,241
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  0
Ownership Nature:
Direct or Indirect Ownership:
Value:  D
Derivative Transaction:
Security Title:
Value:  Performance Rights (Restricted Stock Units)
Conversion or Exercise Price:
Footnote ID:  F5
Transaction Date:
Value:  11/7/23
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  D
Equity Swap Involved?  No
Footnote ID:  F1
Footnote ID:  F3
Transaction Amounts:
Transaction Shares:
Value:  24,038
Transaction Price Per Share:
Footnote ID:  F1
Footnote ID:  F3
Transaction Acquired-Disposed Code:
Value:  D
Exercise Date:
Footnote ID:  F1
Footnote ID:  F3
Expiration Date:
Value:  3/15/25
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  24,038
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  0
Ownership Nature:
Direct or Indirect Ownership:
Value:  D
Derivative Transaction:
Security Title:
Value:  Performance Rights (Restricted Stock Units)
Conversion or Exercise Price:
Footnote ID:  F6
Transaction Date:
Value:  11/7/23
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  D
Equity Swap Involved?  No
Footnote ID:  F1
Footnote ID:  F3
Transaction Amounts:
Transaction Shares:
Value:  61,039
Transaction Price Per Share:
Footnote ID:  F1
Footnote ID:  F3
Transaction Acquired-Disposed Code:
Value:  D
Exercise Date:
Footnote ID:  F1
Footnote ID:  F3
Expiration Date:
Value:  3/15/26
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  61,039
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  0
Ownership Nature:
Direct or Indirect Ownership:
Value:  D
Footnotes:
Footnote - F1:  Pursuant to the Agreement and Plan of Merger, dated as of August 9, 2023 (the "Merger Agreement"), by and among the Issuer, Artisan Bidco, Inc., a Delaware corporation ("Parent"), and Artisan Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Parent ("Merger Sub"), effective November 7, 2023, among other things, Merger Sub merged with and into the Issuer, with the Issuer surviving as a wholly-owned subsidiary of Parent (the "Merger").
Footnote - F2:  Pursuant to the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each share of the Issuer's common stock ("Common Stock") issued and outstanding immediately prior to the Effective Time was cancelled and automatically converted into the right to receive $27.05 in cash, subject to any required tax withholding in accordance with the terms of the Merger Agreement.
Footnote - F3:  Pursuant to the Merger Agreement, at the Effective Time, each unvested restricted stock unit ("RSU") award, including each unvested award of performance-based RSUs, was automatically cancelled and converted solely into the contingent right to receive a cash payment equal to the product of (i) the number of RSUs subject to such unvested RSU award immediately prior to the Effective Time multiplied by (ii) $27.05, with such converted cash award generally subject to the same vesting terms and conditions that applied to the corresponding RSU prior to the Effective Time, with payment forfeited to the extent vesting is not satisfied, except if the holder's service is terminated without cause.
Footnote - F4:  Represents RSUs remaining from an award in 2021, which vest on a performance-based schedule based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index in 2024. Each restricted stock unit 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 required withholding taxes due on each such vesting date.
Footnote - F5:  Represents RSUs remaining from an award in 2022, which vest in equal installments on a performance-based schedule based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index in 2024 and 2025. Each restricted stock unit 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 required withholding taxes due on each such vesting date.
Footnote - F6:  Represents RSUs from an award in 2023, which vest in equal installments on a performance-based schedule based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index in 2024, 2025 and 2026. Each restricted stock unit 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 required withholding taxes due on each such vesting date.
Owner Signature:
Signature Name:  /s/ Jacob Adams as Attorney-in-Fact for Jeff Rosica
Signature Date:  11/7/23


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