AVID TECHNOLOGY, INC. (NASDAQ:AVID) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

AVID TECHNOLOGY, INC. (NASDAQ:AVID) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

(a) Director Not Standing for Reelection at Annual Meeting
On March 29, 2017 Dr. Youngme Moon informed the Company that she
does not wish to stand for reelection for the Board of Directors
(the Board) of Avid Technology, Inc. (the Company) at the
Companys 2017 Annual Meeting of Stockholders on May 9, 2017 (the
Annual Meeting). Dr. Moons decision was amicable and not a result
of any disagreement or dispute with the Company or its
management. Dr. Moon served on the Board for 11 years. The Board
thanked Dr. Moon for her long service on behalf of the Company.
5.03 Amendment to Articles of Incorporation or Bylaws; Change in
Fiscal Year
On March 30, 2017, the Board approved an amendment to Article
III, Section 6 of the Companys Amended and Restated By-Laws (the
By-Laws), which became effective immediately, to change the
threshold for stockholder approval for removal of directors for
cause from a supermajority of 66% to a simple majority of the
voting power of the issued and outstanding capital stock of the
Company entitled to vote in the election of directors.
The foregoing description of the amendment to the By-Laws is only
a summary, does not purport to be complete, and is qualified in
its entirety by reference to the Companys Amended and Restated
By-Laws, effective as of March 30, 2017, which are attached as
Exhibit 3.1 to this Current Report on Form 8-K and incorporated
herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number
Description
3.1
Companys Amended and Restated By-Laws, effective as of
March 30, 2107


About AVID TECHNOLOGY, INC. (NASDAQ:AVID)

Avid Technology, Inc. is a provider of an open and integrated technology platform, along with applications and services that enable the creation, distribution and monetization of audio and video content. The Company develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution. The Company’s products are used in production and post-production facilities; film studios; network, affiliate, independent and cable television stations; recording studios; live-sound performance venues; advertising agencies; government and educational institutions; corporate communication departments, and by independent video and audio creative professionals, as well as aspiring professionals and enthusiasts. Projects produced using its products include feature films, television programs, live events, news broadcasts, commercials, music, video and other digital media content.

AVID TECHNOLOGY, INC. (NASDAQ:AVID) Recent Trading Information

AVID TECHNOLOGY, INC. (NASDAQ:AVID) closed its last trading session 00.00 at 4.73 with 387,838 shares trading hands.

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