Brian Litman - Sep 28, 2021 Form 4 Insider Report for Whole Earth Brands, Inc. (FREE)

Role
Chief Accounting Officer
Signature
/s/ Brian Litman
Stock symbol
FREE
Transactions as of
Sep 28, 2021
Transactions value $
$0
Form type
4
Date filed
9/30/2021, 06:17 PM
Next filing
Mar 22, 2022

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 FREE Restricted Stock Units Award $0 +6.81K $0.00 6.81K Sep 28, 2021 Common Stock 6.81K Direct F1, F2
transaction FREE Restricted Stock Units Award $0 +1.02K $0.00 1.02K Sep 28, 2021 Common Stock 1.02K Direct F1, F3
transaction FREE Performance-Based Restricted Stock Units Award $0 +1.02K $0.00 1.02K Sep 28, 2021 Common Stock 1.02K Direct F1, F4
* 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 (1) share of Whole Earth Brands, Inc. Common Stock.
F2 Subject to the reporting person's continuous service, the restricted stock units shall vest in full in twelve (12) months, commencing on September 28, 2021, except in the case of the reporting person's earlier involuntary termination, change in control, death or disability. In the event of a voluntary termination by the reporting person prior to the vesting date, all restricted stock units will be forfeited.
F3 Subject to the reporting person's continuous employment through the vesting date, the restricted stock units shall vest one-third (1/3) annually over the next three (3) years, commencing on the date of grant, except in the case of the reporting person's earlier involuntary termination. In the event of a voluntary termination by the reporting person prior to the vesting date, all restricted stock units will be forfeited.
F4 The vesting of these performance-based restricted stock units ("PSUs") is dependent upon the achievement by Whole Earth Brands, Inc. of certain financial performance criteria. Subject to continued employment through the applicable vesting date and to accelerated vesting in certain circumstances, the number of PSUs scheduled to vest on the third anniversary of the grant date following the 2023 annual performance period will vary between 0% and 200% of the number reported, depending on whether and the extent to which Whole Earth Brands, Inc. meets certain financial performance goals.