Avid Technology (AVID) Form 4 AVID TECHNOLOGY / TOM J. A. CORDINER ownership change

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

1. Name and Address of Reporting Person^*

CORDINER TOM J. A.

(Last) (First) (Middle)

C/O B P COLLINS LLP, COLLINS HOUSE

32-38 STATION ROAD

(Street)

GERRARDS CROSS, ENGLAND X0 SL9 BEL

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AVID TECHNOLOGY, INC. [ AVID ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Revenue Officer & SVP

3. Date of Earliest Transaction (Month/Day/Year)
03/15/2022

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/15/2022		S		19,682	D	$28.8301	199,767	D
Common Stock	03/15/2022		F		2,042(1)	D	$29.6	197,725(2)	D
Common Stock	03/15/2022		M		17,389(3)	A	$29.6	215,114(2)	D
Common Stock	03/15/2022		A		8,695(4)	A	$0	223,809(2)	D
Common Stock	03/15/2022		F		12,255(5)	D	$29.6	211,554(2)	D
Common Stock	03/15/2022		F		2,199(6)	D	$29.6	209,355(2)	D
Common Stock	03/15/2022		M		18,726(7)	A	$29.6	228,081(2)	D
Common Stock	03/15/2022		A		9,363(8)	A	$0	237,444(2)	D
Common Stock	03/15/2022		F		13,197(9)	D	$29.6	224,247(2)	D
Common Stock	03/15/2022		F		2,699(10)	D	$29.6	221,548(2)	D
Common Stock	03/15/2022		M		5,747(11)	A	$29.6	227,295(2)	D
Common Stock	03/15/2022		A		2,874(12)	A	$0	230,169(2)	D
Common Stock	03/15/2022		F		4,050(13)	D	$29.6	226,119(2)	D
Common Stock	03/16/2022		A		12,820(14)	A	$0	238,939(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance Rights (Restricted Stock Units)	$29.6	03/15/2022		M			17,389(3)	03/15/2022	03/15/2022	Common Stock	17,389	$0	0	D
Performance Rights (Restricted Stock Units)	$29.6	03/15/2022		M			18,726(7)	03/15/2022	03/15/2023	Common Stock	18,726	$0	18,727	D
Performance Rights (Restricted Stock Units)	$29.6	03/15/2022		M			5,747(11)	03/15/2022	03/15/2024	Common Stock	5,747	$0	11,494	D
Performance Rights (Restricted Stock Units)	(15)	03/16/2022		A		12,820		(15)	03/15/2025	Common Stock	12,820	$0	12,820	D

Explanation of Responses:

1. Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2022 of 8.33% of the restricted stock units awarded on March 15, 2019. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.

2. Includes shares acquired under the Issuer's Employee Stock Purchase Plan based upon the most current data available.

3. Represents the number of shares issued as a result of the vesting of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2019 to March 15, 2022. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.

4. Represents the number of additional shares issued as a result of the vesting at 150% of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2019 to March 15, 2022. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.

5. Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2022 of the performance-based restricted stock units awarded on March 15, 2019. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.

6. Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2022 of 8.33% of the restricted stock units awarded on March 15, 2020. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.

7. Represents the number of shares issued as a result of the vesting of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2020 to March 15, 2022. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.

8. Represents the number of additional shares issued as a result of the vesting at 150% of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2020 to March 15, 2022. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.

9. Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2022 of the performance-based restricted stock units awarded on March 15, 2020. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.

10. Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2022 of 33.33% of the restricted stock units awarded on March 15, 2021. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.

11. Represents the number of shares issued as a result of the vesting of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2021 to March 15, 2022. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.

12. Represents the number of additional shares issued as a result of the vesting at 150% of performance-based restricted stock units based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index from March 15, 2021 to March 15, 2022. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision for withholding of shares by the Issuer to pay the required withholding taxes due on each such vesting date.

13. Represents shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting on March 15, 2022 of the performance-based restricted stock units awarded on March 15, 2021. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.

14. Represents an award of restricted stock units that will vest on a time-based vesting schedule as follows: 33.33% on the first anniversary of the grant date of March 16, 2022, and the remaining 66.66% in equal 8.33% installments every 3 months thereafter, provided the reporting person continues to be employed by the Issuer on each such vesting date. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. This award includes a provision requiring the withholding of shares by the Issuer to pay the required withholding taxes due on the vesting date.

15. Represents an award of restricted stock units which vest on a performance-based schedule based on the Issuer's relative total shareholder return (rTSR) to the Russell 2000 index in 2023, 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.

Remarks:

	/s/ Alessandra Melloni as Attorney-in-Fact for Tom Cordiner	03/16/2022
	** Signature of Reporting Person	Date
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