Avid Bioservices Inc (CDMO)

[Protector]

Can't even go to have dinner or PPHM lists something behind my back :)

Interesting sentence at end of option attribution. SK now has 1.7+4=2.1 Million options and 160+K shares. Don't tell me that our CEO has nothing to gain by the PPS going up (as do many others including most of us.)

In determining the number of shares of common stock covered by the Grants to the named executive officers, the Committee reviewed a report prepared by an independent compensation consulting firm which established proposed grant guidelines at a long-term incentive value (“LTI Value”) for equity based awards at the fiftieth percentile of the Company’s peer group to ensure that the Company’s stock option granting practices for named executive officers and other employees were aligned with competitive norms. The LTI Value of the Grants to named executive officers were below the fiftieth percentile of LTI Value of the Company’s peer group as set forth in the report prepared by the independent compensation consulting firm.

The Committee has determined that the exercise price of the Grants will be equal to the closing price of the Company’s common stock on May 6, 2014, the date of grant, and shall vest quarterly in equal installments over a two year period.