ELMORE LEONARD J 4

What Happened
Leonard J. Elmore, a director of Byrna Technologies, had 11,528 restricted stock units (RSUs) settled into 11,528 shares of common stock on January 22, 2026. The Form 4 shows an "exercise/conversion of derivative" (code M) acquiring 11,528 shares and a corresponding disposal entry for 11,528 shares at $0.00 — this reflects conversion/settlement of RSUs into shares rather than a cash sale.

Key Details

• Transaction date: January 22, 2026; Form 4 filed January 23, 2026 (timely filing).
• Transaction type/code: Exercise/conversion of derivative (M) — settlement of RSUs.
• Shares received: 11,528 common shares. Consideration reported: $0.00 (reflects conversion/settlement, not sale proceeds).
• Footnotes: F1 — each RSU converts to one share at settlement; F2 — RSUs were granted 7/19/2024, vested 7/29/2025, required settlement by 3/15/2026, and were settled 1/22/2026.
• Shares owned after transaction: not specified in the excerpted data.

Context
This was a settlement of previously granted RSUs (an award vesting and converting to shares), not an open-market purchase or sale. Such settlements are routine compensation events and do not by themselves indicate a bullish or bearish signal. If shares had been immediately sold, that would be reported differently and could carry different implications; no sale proceeds are shown here.