4//SEC Filing
Ganz Bryan 4
Accession 0001437749-25-022750
CIK 0001354866other
Filed
Jul 14, 8:00 PM ET
Accepted
Jul 15, 8:00 PM ET
Size
7.1 KB
Accession
0001437749-25-022750
Insider Transaction Report
Form 4
Ganz Bryan
DirectorPresident and CEO
Transactions
- GiftSwap
Restricted Stock Units
2024-05-17−55,000→ 545,000 total→ Common Stock (55,000 underlying)
Footnotes (3)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive one share of the common stock of Byrna Technologies Inc. (the "Issuer").
- [F2]Pursuant to the terms of an employment agreement effective 9/1/2023 (the "Agreement") and filed with the Issuer's Form 8-K on 9/18/2023, the vesting of the RSUs is subject to a double trigger of performance and time: (i) the performance hurdle for 1/3 of the RSUs will be met when the Issuer's common stock trades above $6.00 on a 20-day volume weighted average closing price ("VWAP"); (ii) the performance hurdle for 1/3 of the RSUs will be met when the Issuer's common stock trades above $9.00 on a 20-day VWAP; (iii) the performance hurdle for the final 1/3 of the will be met when the Issuer's common stock trades above $12 on a 20-VWAP; and (iv) subject to specific modifications detailed in the Agreement for a termination through a Qualified Retirement (as defined therein), without cause, by resignation, by virtue of death or disability, or through a Change in Control, the reporting person must remain employed by the Issuer until 8/31/2026.
- [F3]By agreements dated May 17, 2024 the reporting person, with the consent of the Compensation Committee of the Issuer's Board of Directors and consistent with the terms of the Issuer's equity incentive plan, assigned 55,000 of the RSUs (the "Assigned Units") to certain officers of the Issuer as a bona fide gift. The assignments did not alter any of the conditions of vesting, including the performance triggers or the requirement that, subject to specific modifications noted in note 2 above, that the reporting person remain employed through August 31, 2026. In the event that the applicable assignee ceases to be employed by the Issuer prior to such date, ownership of the Assigned Units will revert to the reporting person.
Documents
Issuer
Byrna Technologies Inc.
CIK 0001354866
Entity typeother
Related Parties
1- filerCIK 0001318455
Filing Metadata
- Form type
- 4
- Filed
- Jul 14, 8:00 PM ET
- Accepted
- Jul 15, 8:00 PM ET
- Size
- 7.1 KB