Deborah Derby - May 16, 2024 Form 4 Insider Report for CARROLS RESTAURANT GROUP, INC. (TAST)

Role
President and CEO, Director
Signature
/s/ Deborah M. Derby
Stock symbol
TAST
Transactions as of
May 16, 2024
Transactions value $
$0
Form type
4
Date filed
5/17/2024, 12:28 PM
Previous filing
Mar 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TAST Common Stock, $0.01 par value Disposed to Issuer -231K -100% 0 May 16, 2024 Direct F1
transaction TAST Common Stock, $0.01 par value (Restricted Common Stock) Disposed to Issuer -442K -100% 0 May 16, 2024 Direct F2
transaction TAST Common Stock, $0.01 par value (2023 Performance Stock Unit) Options Exercise +904K 904K May 16, 2024 Direct F3
transaction TAST Common Stock, $0.01 par value (2023 Performance Stock Unit) Disposed to Issuer -904K -100% 0 May 16, 2024 Direct F3
transaction TAST Common Stock, $0.01 par value (2024 Performance Stock Unit) Options Exercise +123K 123K May 16, 2024 Direct F4
transaction TAST Common Stock, $0.01 par value (2024 Performance Stock Unit) Disposed to Issuer -123K -100% 0 May 16, 2024 Direct F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction TAST Performance Stock Unit (2023) Award $0 +904K $0.00 904K May 16, 2024 Common Stock 904K $0.00 Direct F3
transaction TAST Performance Stock Unit (2024) Award $0 +123K $0.00 123K May 16, 2024 Common Stock 123K $0.00 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Deborah Derby is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On May 16, 2024, Carrols Restaurant Group, Inc. (the "Company") consummated the transactions contemplated by that certain Agreement and Plan of Merger, dated as of January 16, 2024 (the "Merger Agreement"), by and among the Company, Restaurant Brands International Inc. and BK Cheshire Corp. (the "Closing"). Upon the Closing, each outstanding share of common stock, par value $0.01 per share, of the Company ("Common Stock") was cancelled and converted into the right to receive $9.55 in cash, without interest thereon, under the terms and subject to the conditions set forth in the Merger Agreement.
F2 Upon the Closing, each outstanding restricted share of Common Stock was cancelled and converted into the right to receive $9.55 in cash, without interest thereon, under the terms and subject to the conditions set forth in the Merger Agreement.
F3 Upon the Closing, each performance stock unit granted in 2023 (and any dividend equivalent units accrued thereon) vested assuming maximum level performance of the applicable performance goals and was cancelled and converted into the right to receive $9.55 in cash, without interest thereon, under the terms and subject to the conditions set forth in the Merger Agreement.
F4 Upon the Closing, each performance stock unit granted in 2024 (and any dividend equivalent units accrued thereon) vested assuming target level performance of the applicable performance goals and was cancelled and converted into the right to receive $9.55 in cash, without interest thereon, under the terms and subject to the conditions set forth in the Merger Agreement.