Brian Litman - May 9, 2023 Form 4 Insider Report for Whole Earth Brands, Inc. (FREE)

Role
Chief Accounting Officer
Signature
/s/ Brian Litman, by Ira W. Schlussel, as Attorney-in-Fact
Stock symbol
FREE
Transactions as of
May 9, 2023
Transactions value $
$0
Form type
4
Date filed
5/11/2023, 04:31 PM
Previous filing
May 3, 2023
Next filing
Aug 24, 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 FREE Restricted Stock Units Award $0 +68.5K +60.99% $0.00 181K May 9, 2023 Common Stock 68.5K Direct F1, F2
transaction FREE Performance-Based Restricted Stock Units Award $0 +68.5K +280.36% $0.00 93K May 9, 2023 Common Stock 68.5K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units convert into shares of Whole Earth Brands, Inc.'s common stock on a one-for-one basis.
F2 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 anniversary of the grant date (May 9, 2023), 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.
F3 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 2025 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 the identified financial performance criteria.