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Byrna Technologies Inc.·4

Mar 18, 9:00 PM ET

Davis Conn Q. 4

Research Summary

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Updated

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.