Ryan M. Zink - Nov 16, 2021 Form 4 Insider Report for Good Times Restaurants Inc. (GTIM)

Role: CEO and Director, Director
Signature: /s/ Ryan M. Zink
Stock symbol: GTIM
Transactions as of: Nov 16, 2021
Transactions value $: -$6,202
Form type: 4
Date filed: 11/18/2021, 03:15 PM
Previous filing: Sep 30, 2021
Next filing: May 10, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GTIM	Common Stock	Options Exercise	$0	+4.34K	+3.83%	$0.00	118K	Nov 16, 2021	Direct	F1
transaction	GTIM	Common Stock	Tax liability	-$6.2K	-1.26K	-1.07%	$4.93	116K	Nov 16, 2021	Direct	F2
holding	GTIM	Common Stock						6.2K	Nov 16, 2021	Shares held in spouse's IRA

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	GTIM	Restricted Stock Units	Options Exercise	$0	-4.34K	-100%	$0.00^*	0	Nov 16, 2021	Common Stock	4.34K	$0.00	Direct	F1
holding	GTIM	Incentive Stock Option (Right to Buy)						80K	Nov 16, 2021	Common Stock	80K	$5.20	Direct	F3
holding	GTIM	Incentive Stock Option (Right to Buy)						90K	Nov 16, 2021	Common Stock	90K	$2.33	Direct	F4
holding	GTIM	Incentive Stock Options (Right to buy)						15K	Nov 16, 2021	Common Stock	15K	$5.00	Direct	F5
holding	GTIM	Incentive Stock Options (Right to buy)						12.9K	Nov 16, 2021	Common Stock	12.9K	$4.66	Direct	F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents the conversion upon vesting of Restricted Stock Units into common stock (the "Converted Common Stock. The Reporting Person was granted 13,021 Restricted Stock Units on November 16, 2018 vesting at 1/3 of the total granted amount over three years. Such Restricted Stock Units were previously reported in Table II on a Form 4 filed with the Securities and Exchange Commission.
F2	Represents shares withheld to cover tax liabilities associated with Restricted Stock Unit vesting.
F3	The Reporting Person was granted 80,000 Incentive Stock Options on September 29, 2021. The shares awarded include a vesting condition whereby the vesting shall occur on the date on which the price of the Company common stock (as traded on the Nasdaq Capital Market) is $6.00, as measured based on the trailing 60 calendar day volume-weighted average price (VWAP) of Company common stock.
F4	The Reporting Person was granted 90,000 Incentive Stock Options on December 24, 2020. Such incentive stock options were previously reported in Table II on a Form 4 filed with the Securities and Exchange Commission. The vesting conditions were met on April 5, 2021.
F5	The reporting person was granted 15,000 Incentive Stock Options on October 12, 2018 vesting at 1/5 of the total granted amount over five years. Such restricted stock units were previously reported in Table II on a Form 4 filed with the Securities and Exchange Commission.
F6	The reporting person was granted 12,876 Incentive Stock Options on November 16, 2018 vesting at 1/5 of the total granted amount over five years. Such restricted stock units were previously reported in Table II on a Form 4 filed with the Securities and Exchange Commission.