4/A//SEC Filing
Esposito James R. 4/A
Accession 0000899243-22-000899
CIK 0001723580other
Filed
Jan 4, 7:00 PM ET
Accepted
Jan 5, 4:30 PM ET
Size
12.5 KB
Accession
0000899243-22-000899
Insider Transaction Report
Form 4/AAmended
Esposito James R.
Chief Operating Officer
Transactions
- Award
Restricted Stock Units
2021-07-13+60,000→ 95,000 total→ Common Stock (60,000 underlying)
Footnotes (4)
- [F1]Each restricted stock unit represents a contingent right to receive one share of BurgerFi International, Inc. common stock.
- [F2]On July 13, 2021, the Reporting Person was granted 60,000 restricted stock units under the issuer's 2020 Omnibus Equity Incentive Plan, which shall vest and be settled in shares of common stock as follows: (i) 15,000 restricted stock units shall vest, if during calendar year 2021 the last reported closing price of the issuer's common stock for any twenty trading days within any consecutive thirty trading day period is greater than or equal to $19.00 per share; provided, however, that if the vesting condition is not achieved during calendar year 2021, such 15,000 restricted stock units shall roll over (the "Roll Over") to calendar year 2022 and shall vest, if during calendar year 2022 the last reported closing price of the issuer's common stock for any twenty (20) trading days within any consecutive thirty (30) trading day period is greater than or equal to $11.00 per share;
- [F3](Continued from footnote 2) (ii) 15,000 restricted stock units shall vest, if during calendar year 2022 the last reported closing price of the issuer's common stock for any twenty trading days within any consecutive thirty trading day period equals or exceeds $11.00 per share; (iii) 15,000 restricted stock units shall vest, if during calendar year 2023 the last reported closing price of the issuer's common stock for any twenty trading days within any consecutive thirty trading day period is greater than or equal to $13.00 per share; and (iv) 15,000 restricted stock units shall vest, if during calendar year 2024 the last reported closing price of the issuer's common stock for any twenty trading days within any consecutive thirty trading day period is greater than or equal to $15.00 per share, subject to earlier vesting due to a change of control or certain termination events;
- [F4](Continued from footnote 3) provided, that in no event shall the number of unearned restricted stock units that can vest in 2022 in connection with such termination events exceed 15,000 restricted stock units. This amendment is being filed to report that the stock price benchmarks set forth in the Roll Over and in (ii) through (iv) were amended effective January 3, 2022 from $19.00 per share for the Roll Over and $19.00 per share, $22.00 per share and $25.00 per share, respectively, for (ii) through (iv), to $11.00 per share for the Roll Over and $11.00 per share, $13.00 per share and $15.00 per share, respectively, for (ii) through (iv).
Documents
Issuer
BurgerFi International, Inc.
CIK 0001723580
Entity typeother
Related Parties
1- filerCIK 0001863071
Filing Metadata
- Form type
- 4/A
- Filed
- Jan 4, 7:00 PM ET
- Accepted
- Jan 5, 4:30 PM ET
- Size
- 12.5 KB