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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
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 control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Employee Stock Option (Right to Buy) | $ 7.66 | 09/14/2014 | A | 63,000 | 09/14/2014 | 01/07/2020 | Common Stock | 63,000 | $ 0 | 63,000 (4) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Rosica Jeff AVID TECHNOLOGY, INC. 75 NETWORK DRIVE BURLINGTON, MA 01803 |
SVP Worldwide Field Operations |
/s/ John S. LaMountain as Attorney-in-Fact for Jeff Rosica | 09/16/2014 | |
**Signature of Reporting Person | Date |
* | 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). |
(1) | Each performance based restricted stock unit represents the Company's commitment to issue one share of the Company's common stock. |
(2) | On January 7, 2013 the reporting person was awarded performance based restricted share units under the Issuer's Stock Incentive Program. The vesting of these restricted share units was based on the Issuer's achievement of certain performance metrics based upon the completion of audited financial statements for the fiscal year ended December 31, 2013. On September 14, 2014, the Issuer's Compensation Committee determined the number of restricted share units as to which the performance criteria had been satisfied and the restricted share units so determined have therefore vested in whole on such date. |
(3) | Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on September 14, 2014 of certain restricted share units. This award includes a provision for the withholding of shares by the Issuer to pay the withholding taxes due on the vesting date. |
(4) | On January 7, 2013 the reporting person was awarded performance based options to purchase the Issuer's common stock under the Issuer's Stock Incentive Program. These options were based on the Issuer's achievement of certain performance metrics based upon the completion of audited financial statements for the fiscal year ended December 31, 2013. On September 14, 2014, the Issuer's Compensation Committee determined the number of options as to which the performance criteria had been satisfied and the options so determined have therefore vested on such date. |