Hughes Herbert 4

What Happened

Herbert Hughes, a director (and former Chairman as of 3/2/26) of Byrna Technologies (BYRN), recorded the conversion/exercise of 1,459 restricted stock units (RSUs) on 2026-03-02. The Form 4 shows an "M" (exercise/conversion of a derivative) for 1,459 shares and a reported disposition at $0.00 — reflecting that these were RSUs that vested (accelerated on his retirement as Chair) rather than an open-market sale or purchase. The vested RSUs have not yet been settled into shares.

Key Details

• Transaction date: 2026-03-02; Form 4 filed: 2026-03-09 (filed 7 days after the transaction; appears late of the usual 2-business-day rule).
• Reported units affected: 1,459 RSUs accelerated to vest. Reported disposition price: $0.00 (no cash paid or received).
• Original grant: 7/29/2025 grant totaled 6,324 RSUs (1,459 for service as Chair + 4,865 as director base comp).
• Remaining unvested units: 4,865 RSUs remain outstanding and unvested, subject to continued service and the Final Vesting Date.
• Settlement: The 1,459 vested units have not yet been settled and must be settled by March 15, 2027, together with any units that later vest (per footnotes).
• Shares owned after transaction: not specified in the filing.

Context

• RSUs (per filing) are rights to receive one share (or cash) at settlement — they are not immediate open-market purchases or sales. The "M" code here documents conversion/vesting of a derivative award.
• This transaction reflects accelerated vesting due to a role change (retired as Chairman but remains a director) and does not indicate a cash sale or new purchase.