Bachmann Carl J. III 4
4 · BurgerFi International, Inc. · Filed Jul 12, 2023
Insider Transaction Report
Form 4
Bachmann Carl J. III
Chief Executive Officer
Transactions
- Award
Restricted Stock Units
2023-07-10+500,000→ 500,000 total→ Common Stock (500,000 underlying) - Award
Common Stock
2023-07-10+63,500→ 127,000 total - Award
Restricted Stock Units
2023-07-10+500,000→ 1,000,000 total→ Common Stock (200,000 underlying)
Footnotes (4)
- [F1]On July 10, 2023, the Reporting Person was granted 63,500 shares of common stock of the issuer outside of the issuer's 2020 Omnibus Equity Incentive Plan as a material inducement to the Reporting Person's acceptance of employment with the issuer in accordance with Nasdaq Listing Rule 5635(c)(4). The shares are subject to Rule 144 of the Securities Act of 1933, as amended.
- [F2]Each restricted stock unit represents a contingent right to receive one share of BurgerFi International, Inc. common stock.
- [F3]On July 10, 2023, the Reporting Person was granted 500,000 restricted stock units outside of the issuer's 2020 Omnibus Equity Incentive Plan as a material inducement to the Reporting Person's acceptance of employment with the issuer in accordance with Nasdaq Listing Rule 5635(c)(4). The restricted stock units shall vest in five annual installments of 100,000 restricted stock units each, beginning March 29, 2024, subject to the Reporting Person remaining continuously employed by the issuer at the time of vesting and earlier vesting due to a change of control or certain termination events.
- [F4]On July 10, 2023, the Reporting Person was granted 500,000 restricted stock units outside of the issuer's 2020 Omnibus Equity Incentive Plan as a material inducement to the Reporting Person's acceptance of employment with the issuer in accordance with Nasdaq Listing Rule 5635(c)(4). The restricted stock units shall vest in five annual installments of 100,000 restricted stock units each, beginning March 29, 2024, subject to achievement of certain key performance criteria, the Reporting Person remaining continuously employed by the issuer at the time of vesting and earlier vesting due to a change of control or certain termination events.