Stefan Kurt Schnopp - May 10, 2023 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
May 10, 2023
Transactions value $
$0
Form type
4
Date filed
5/12/2023, 04:15 PM
Previous filing
Mar 23, 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 +20.5K +24.48% $0.00 104K May 10, 2023 Common Stock 20.5K Direct F1, F2
* 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 May 10, 2023, the Reporting Person was granted 20,500 restricted stock units under the issuer's 2020 Omnibus Equity Incentive Plan, which shall fully vest and be settled in 20,500 shares of common stock on March 29, 2024, subject to (a) the issuer achieving a specified amount of reported Adjusted EBITDA (normalized for any impacts due to M&A activity) for fiscal year 2023 and (b) the Reporting Person remaining continuously employed by the issuer at the time of vesting, without regard to any applicable early termination and adjustment that may otherwise be provided in the applicable employment agreement, which such early terminations provisions shall not apply to the grant.

Remarks:

Chief Legal Officer and Corporate Secretary