Wager Lisa 4
4 · Byrna Technologies Inc. · Filed Mar 25, 2022
Insider Transaction Report
Form 4
Wager Lisa
Corporate Secretary, CGO
Transactions
- Disposition to Issuer
Restricted Stock Unit
2022-03-23−75,000→ 75,000 totalExp: 2023-08-31→ Common Stock (75,000 underlying) - Award
Option (right to buy)
2022-03-23+75,000→ 75,000 totalExercise: $9.23Exp: 2032-03-23→ Common Stock (75,000 underlying)
Footnotes (3)
- [F1]Each restricted stock unit represents the right to receive one share of common stock.
- [F2]The original grant of restricted stock units ("Units") consisted of 50,000 Units with no performance trigger, 50,000 Units with a $30 20-day VWAP performance trigger ("$30 Trigger"), and 50,000 Units with a $40 20-day VWAP performance trigger ("$40 Trigger"). The Reporting Person must remain in service to the Company through August 31, 2023 for any Units to vest. The Reporting Person has agreed to an amendment of the original Restricted Stock Unit Agreement, approved by the Board, to provide for cancellation of half the Units, consisting of all Units with a $40 Trigger and 25,000 Units with a $30 Trigger, in exchange for a grant of an equal number of options as described herein.
- [F3]One third of the grant (the "Option Shares") will vest and become exercisable on 3/23/23 (the "Year Anniversary"); the balance of the Option Shares will vest in eight (8) quarterly, consecutive, and equal installments thereafter, beginning on the first calendar day of the fiscal quarter immediately following the Year Anniversary, until all Option Shares are fully vested.