Initial Statement of Beneficial Ownership (3)
December 14 2020 - 4:07PM
Edgar (US Regulatory)
FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0104
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
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CLAMAN TIMOTHY |
2. Date of Event Requiring Statement (MM/DD/YYYY)
12/3/2020
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3. Issuer Name and Ticker or Trading Symbol
AVID TECHNOLOGY, INC. [AVID]
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(Last)
(First)
(Middle)
75 NETWORK DRIVE |
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_____ Director _____ 10% Owner
___X___ Officer (give title below) _____ Other (specify below)
SVP & GM Video Post & Storage / |
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(Street)
BURLINGTON, MA 01803
(City)
(State)
(Zip)
| 5. If Amendment, Date Original Filed(MM/DD/YYYY)
| 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Beneficially Owned
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1.Title of Security
(Instr. 4) | 2. Amount of Securities Beneficially Owned
(Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5) | 4. Nature of Indirect Beneficial Ownership
(Instr. 5) |
| Common Stock | 98138 (1)(2)(3)(4)(5)(6) | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 4) | 2. Date Exercisable and Expiration Date
(MM/DD/YYYY) | 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5) | 6. Nature of Indirect Beneficial Ownership
(Instr. 5) |
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
| Explanation of Responses: |
| (1) | Includes 9,126 remaining unvested restricted stock units ("RSUs") from an award granted on July 15, 2018, that are scheduled to vest in equal 8.33% installments every 3 months, provided the reporting person continues to be employed by Avid Technology, Inc. (the "Issuer") on each such vesting date. This award includes a provision for the withholding of shares by the issuer to pay for the required withholding taxes due on the vesting date. |
| (2) | Includes 3,334 remaining unvested restricted stock units ("RSUs") from an award granted on November 15, 2018, that are scheduled to vest in equal 8.33% installments every 3 months, provided the reporting person continues to be employed by Avid Technology, Inc. (the "Issuer") on each such vesting date. This award includes a provision for the withholding of shares by the issuer to pay for the required withholding taxes due on the vesting date. |
| (3) | Includes 7,300 remaining unvested restricted stock units ("RSUs") from an award granted on May 22, 2019, that are scheduled to vest in equal 8.33% installments every 3 months, provided the reporting person continues to be employed by Avid Technology, Inc. (the "Issuer") on each such vesting date. This award includes a provision for the withholding of shares by the issuer to pay for the required withholding taxes due on the vesting date. |
| (4) | Includes 3,819 restricted stock units ("RSUs") from an award granted on June 15, 2020, that are scheduled to vest in full on June 15, 2021, 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. |
| (5) | Includes 4,926 restricted stock units ("RSUs") from an award granted on July 22, 2020, that will vest on a time-based schedule as follows: 33.33% on July 22, 2021 and the remaining 66.67% of the RSUs shall vest 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. |
| (6) | Includes 24,141 restricted stock units ("RSUs") from an award granted on November 01, 2020, that will vest on a time-based schedule as follows: 33.33% on November 01, 2021 and the remaining 66.67% of the RSUs shall vest 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. |
Reporting Owners
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| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
CLAMAN TIMOTHY
75 NETWORK DRIVE
BURLINGTON, MA 01803 |
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| SVP & GM Video Post & Storage |
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Signatures
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| /s/ Alessandra Melloni as Attorney-in-Fact for Timothy Claman | | 12/14/2020 |
| **Signature of Reporting Person | Date |
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