Litman Brian 4
4 · Whole Earth Brands, Inc. · Filed May 11, 2023
Insider Transaction Report
Form 4
Litman Brian
Chief Accounting Officer
Transactions
- Award
Restricted Stock Units
2023-05-09+68,549→ 180,951 total→ Common Stock (68,549 underlying) - Award
Performance-Based Restricted Stock Units
2023-05-09+68,548→ 92,998 total→ Common Stock (68,548 underlying)
Footnotes (3)
- [F1]Restricted stock units convert into shares of Whole Earth Brands, Inc.'s common stock on a one-for-one basis.
- [F2]Subject to the reporting person's continuous employment through the vesting date, the restricted stock units shall vest one-third (1/3) annually over the next three (3) years, commencing on the anniversary of the grant date (May 9, 2023), except in the case of the reporting person's earlier involuntary termination. In the event of a voluntary termination by the reporting person prior to the vesting date, all restricted stock units will be forfeited.
- [F3]The vesting of these performance-based restricted stock units ("PSUs") is dependent upon the achievement by Whole Earth Brands, Inc. of certain financial performance criteria. Subject to continued employment through the applicable vesting date and to accelerated vesting in certain circumstances, the number of PSUs scheduled to vest on the third anniversary of the grant date following the 2025 annual performance period will vary between 0% and 200% of the number reported, depending on whether and the extent to which Whole Earth Brands, Inc. meets the identified financial performance criteria.