Davis Conn Q. 4
4 · Byrna Technologies Inc. · Filed Mar 18, 2026
Research Summary
AI-generated summary of this filing
Byrna Technologies (BYRN) CEO Davis Conn Receives RSU Awards
What Happened
Davis Conn, Chief Executive Officer of Byrna Technologies (BYRN), received three restricted stock unit (RSU) awards totaling 97,439 RSUs: 19,395 RSUs on March 2, 2026 and two grants of 39,022 RSUs on March 17, 2026. Each RSU represents a contingent right to one share of common stock; the grants were reported with a $0 acquisition price (typical for RSU awards). These were awards/grants (code A), not open-market purchases or sales.
Key Details
- Transactions reported:
- 2026-03-02: 19,395 RSUs @ $0 (Award)
- 2026-03-17: 39,022 RSUs @ $0 (Award)
- 2026-03-17: 39,022 RSUs @ $0 (Award)
- Filing: Form 4 filed 2026-03-18. The March 2 grant appears to have been reported late (more than two business days after the transaction); the March 17 grants were filed the next day.
- Shares owned after transaction: Not disclosed in the provided filing excerpt.
- Footnotes / vesting highlights:
- F1: Each RSU is a contingent right to receive one share upon vesting.
- F2: Certain RSUs tied to CEO appointment have a two‑year performance condition requiring the 90‑day VWAP at period end to reach 156% of the March 2, 2026 closing price and continuous service through March 2, 2028 (with acceleration on certain change‑of‑control terminations).
- F3: Some RSUs vest in three equal time‑based tranches (Mar 17, 2027; Mar 2, 2028; Mar 2, 2029) subject to continued service, with acceleration on death/disability or qualifying terminations around a change of control.
- F4: Other RSUs are performance‑based, vesting on Nov 30, 2028 if preset FY2027 revenue goals are met and the CEO remains employed through that date (with similar acceleration provisions).
- Transaction code: A = Award/Grant.
Context
RSUs are derivative compensation that convert into actual shares only if vesting conditions are met; they carry no immediate cash proceeds for the insider and do not represent an open‑market buy or sell. The grants are typical executive compensation, combining time‑based and performance‑based vesting and include acceleration provisions on death, disability, or certain change‑of‑control scenarios.
Insider Transaction Report
- Award
Restricted Stock Units
[F1][F2]2026-03-02+19,395→ 19,395 total→ Common Stock (19,395 underlying) - Award
Restricted Stock Units
[F1][F3]2026-03-17+39,022→ 39,022 total→ Common Stock (39,022 underlying) - Award
Restricted Stock Units
[F1][F4]2026-03-17+39,022→ 39,022 total→ Common Stock (39,022 underlying)
Footnotes (4)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of Byrna Technologies Inc. (the "Issuer").
- [F2]The RSUs were granted in connection with the Reporting Person's appointment as Chief Executive Officer of the Issuer. Pursuant to the terms of an offer letter entered into effective March 2, 2026 (the "Agreement") and attached as an exhibit to the Form 8-K filed by the Issuer on March 3, 2026, the vesting of the RSUs is conditioned upon (i) the volume-weighted average price of the Issuer's common stock over the final 90 days of a two-year performance period equaling or exceeding 156% of the Issuer's closing stock price on March 2, 2026, and (ii) the Reporting Person's continuous service to the Issuer through March 2, 2028, subject to acceleration upon certain terminations following a change of control of the Issuer.
- [F3]The RSUs were granted pursuant to the Issuer's Long Term Incentive Program. The RSUs vest in three equal tranches on March 17, 2027, March 2, 2028 and March 2, 2029, subject the Reporting Person's continuous service to the Issuer through each such vesting date. Such vesting will be accelerated upon the death or disability of the Reporting Person or upon the termination of the Reporting Person without cause or resignation by the Reporting Person for good reason within 12 months following a qualifying change of control transaction.
- [F4]The RSUs were granted pursuant to the Issuer's Long Term Incentive Program. The RSUs are performance-based and will vest on November 30, 2028 if and to the extent that (a) the Issuer achieves preset revenue levels for its fiscal year ending November 30, 2027 and (b) the Reporting Person (i) remains employed by the Issuer through November 30, 2028 or (ii) is terminated without cause after November 30, 2027. Such vesting will be accelerated upon the death or disability of the Reporting Person or upon the termination of the Reporting Person without cause or resignation by the Reporting Person for good reason within 12 months following a qualifying change of control transaction.