Carl Bachmann - Jul 10, 2023 Form 4 Insider Report for BurgerFi International, Inc. (BFI)

Role
Chief Executive Officer
Signature
/s/ Stefan Schnopp, as Attorney-in-Fact for Carl Bachmann
Stock symbol
BFI
Transactions as of
Jul 10, 2023
Transactions value $
$0
Form type
4
Date filed
7/12/2023, 04:15 PM
Next filing
Apr 11, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BFI Common Stock Award $0 +63.5K +100% $0.00 127K Jul 10, 2023 Direct F1

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 +500K $0.00 500K Jul 10, 2023 Common Stock 500K Direct F2, F3
transaction BFI Restricted Stock Units Award $0 +500K +100% $0.00 1M Jul 10, 2023 Common Stock 200K Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On July 10, 2023, the Reporting Person was granted 63,500 shares of common stock of the issuer outside of the issuer's 2020 Omnibus Equity Incentive Plan as a material inducement to the Reporting Person's acceptance of employment with the issuer in accordance with Nasdaq Listing Rule 5635(c)(4). The shares are subject to Rule 144 of the Securities Act of 1933, as amended.
F2 Each restricted stock unit represents a contingent right to receive one share of BurgerFi International, Inc. common stock.
F3 On July 10, 2023, the Reporting Person was granted 500,000 restricted stock units outside of the issuer's 2020 Omnibus Equity Incentive Plan as a material inducement to the Reporting Person's acceptance of employment with the issuer in accordance with Nasdaq Listing Rule 5635(c)(4). The restricted stock units shall vest in five annual installments of 100,000 restricted stock units each, beginning March 29, 2024, subject to the Reporting Person remaining continuously employed by the issuer at the time of vesting and earlier vesting due to a change of control or certain termination events.
F4 On July 10, 2023, the Reporting Person was granted 500,000 restricted stock units outside of the issuer's 2020 Omnibus Equity Incentive Plan as a material inducement to the Reporting Person's acceptance of employment with the issuer in accordance with Nasdaq Listing Rule 5635(c)(4). The restricted stock units shall vest in five annual installments of 100,000 restricted stock units each, beginning March 29, 2024, subject to achievement of certain key performance criteria, the Reporting Person remaining continuously employed by the issuer at the time of vesting and earlier vesting due to a change of control or certain termination events.