Initial Statement of Beneficial Ownership (3)
November 06 2019 - 4:24PM
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
*
BROWN GARRARD |
2. Date of Event Requiring Statement (MM/DD/YYYY)
11/5/2019
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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) ___X___ Other (specify below) Chief Accounting Officer / Principal Accounting Officer |
(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 | 25000 (1)(2) | 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 25,000 restricted stock units ("RSUs") from an award granted on October 7, 2019, that will vest on a time-based schedule as follows: 33.33% on October 7, 2020 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. |
(2) | Garrard Brown was appointed principal accounting officer on November 5, 2019, effective November 8, 2019. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
BROWN GARRARD 75 NETWORK DRIVE BURLINGTON, MA 01803 |
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| Chief Accounting Officer | Principal Accounting Officer |
Signatures
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/s/ Alessandra Melloni as Attorney-in-Fact for Garrard Brown | | 11/6/2019 |
**Signature of Reporting Person | Date |
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