Stefan Kurt Schnopp - Jan 3, 2022 Form 4 Insider Report for BurgerFi International, Inc. (BFI)

Role
Chief Legal Officer and Corporate Secretary
Signature
/s/ Stefan Kurt Schnopp
Stock symbol
BFI
Transactions as of
Jan 3, 2022
Transactions value $
$0
Form type
4
Date filed
1/5/2022, 03:20 PM
Next filing
Feb 28, 2023

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 BFI Restricted Stock Units Award $0 +10K $0.00 10K Jan 3, 2022 Common Stock 10K Direct F1, F2
transaction BFI Restricted Stock Units Award $0 +35K +350% $0.00 45K Jan 3, 2022 Common Stock 35K Direct F1, F3
transaction BFI Restricted Stock Units Award $0 +70K +155.56% $0.00 115K Jan 3, 2022 Common Stock 70K Direct F1, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of BurgerFi International, Inc. common stock.
F2 On January 3, 2022, the Reporting Person was granted 10,000 restricted stock units under the issuer's 2020 Omnibus Equity Incentive Plan, which shall vest and be settled in shares of common stock in two annual installments of 5,000 restricted stock units each, beginning January 3, 2023, subject to earlier vesting due to a change of control or certain termination events.
F3 On January 3, 2022, the Reporting Person was granted 35,000 restricted stock units under the issuer's 2020 Omnibus Equity Incentive Plan, which shall vest and be settled in shares of common stock in four annual installments of 8,750 restricted stock units each, beginning January 3, 2023, subject to the Reporting Person's achievement of certain key performance criteria and earlier vesting due to a change of control or certain termination events.
F4 On January 3, 2022, the Reporting Person was granted 70,000 restricted stock units under the issuer's 2020 Omnibus Equity Incentive Plan, which shall vest and be settled in shares of common stock as follows: (i) 17,500 restricted stock units shall vest, if during calendar year 2022 the last reported closing price of the issuer's common stock for any twenty trading days within any consecutive thirty trading day period is greater than or equal to $11.00 per share;
F5 (Continued from footnote 4) (ii) 17,500 restricted stock units shall vest, if during calendar year 2023 the last reported closing price of the issuer's common stock for any twenty trading days within any consecutive thirty trading day period equals or exceeds $11.00 per share; (iii) 17,500 restricted stock units shall vest, if during calendar year 2024 the last reported closing price of the issuer's common stock for any twenty trading days within any consecutive thirty trading day period is greater than or equal to $13.00 per share; and (iv)17,500 restricted stock units shall vest, if during calendar year 2025 the last reported closing price of the issuer's common stock for any twenty trading days within any consecutive thirty trading day period is greater than or equal to $15.00 per share, subject to earlier vesting due to a change of control or certain termination events.

Remarks:

Chief Legal Officer and Corporate Secretary