4//SEC Filing
RABINOVITCH MICHAEL 4
Accession 0000899243-23-009521
CIK 0001723580other
Filed
Mar 22, 8:00 PM ET
Accepted
Mar 23, 4:15 PM ET
Size
10.9 KB
Accession
0000899243-23-009521
Insider Transaction Report
Form 4
RABINOVITCH MICHAEL
SVP and CFO
Transactions
- Exercise/Conversion
Common Stock
2023-03-21+63,000→ 497,659 total - Exercise/Conversion
Restricted Stock Units
2023-03-21−63,000→ 60,000 total→ Common Stock (63,000 underlying) - Tax Payment
Common Stock
2023-03-21$1.20/sh−24,793$29,752→ 472,866 total
Footnotes (5)
- [F1]The shares are part of a grant of 130,000 restricted stock units made on July 13, 2021 under the issuer's 2020 Omnibus Equity Incentive Plan (the "Plan"). The restricted stock units shall vest and be settled in shares of common stock in annual installments of 25,000 restricted stock units on February 26, 2022, 30,000 restricted stock units on February 26, 2023, 35,000 restricted stock units on February 26, 2023 and 40,000 restricted stock units on February 26, 2023, subject to the Reporting Person's achievement of certain key performance criteria and earlier vesting due to a change of control or certain termination or resignation events. On February 26, 2023, 40% of the portions eligible to vest on February 26, 2023 (the "2023 Portions") vested based on achievement of one of the Reporting Person's key performance criteria, at which point a determination regarding satisfaction of the remaining key performance criteria with respect to the 2023 Portions had not yet been made.
- [F2](Continued from Footnote 1) On March 21, 2023, the remaining 60% of the 2023 Portions vested based on achievement of the Reporting Person's remaining key performance criteria with respect to the 2023 Portions.
- [F3]Each restricted stock unit represents a contingent right to receive one share of BurgerFi International, Inc. common stock.
- [F4]Shares disposed of represent shares withheld by the issuer to pay taxes due upon vesting of restricted stock units.
- [F5]Reflects forfeiture of 40,000 restricted stock units granted to the Reporting Person on July 13, 2021 due to the condition with respect to calendar year 2022 applicable to such restricted stock units not being satisfied. Such 40,000 restricted stock units were inadvertently included in the amount reported in the number of derivative securities beneficially owned following the reported transaction in Table II, Box 9 of the Form 4 filed by the Reporting Person on February 28, 2023.
Documents
Issuer
BurgerFi International, Inc.
CIK 0001723580
Entity typeother
Related Parties
1- filerCIK 0001334770
Filing Metadata
- Form type
- 4
- Filed
- Mar 22, 8:00 PM ET
- Accepted
- Mar 23, 4:15 PM ET
- Size
- 10.9 KB