John Iannucci - May 10, 2023 Form 4 Insider Report for BurgerFi International, Inc. (BFI)

Role: Chief Operating Officer
Signature: /s/ Stefan Schnopp, as Attorney-in-Fact for John Iannucci
Stock symbol: BFI
Transactions as of: May 10, 2023
Transactions value $: $0
Form type: 4
Date filed: 5/15/2023, 06:36 PM
Previous filing: May 15, 2023
Next filing: Aug 14, 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	+25.62%	$0.00	101K	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.

Content

Each restricted stock unit represents a contingent right to receive one share of BurgerFi International, Inc. common stock.

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.