CONLEE CECIL D - 08 Jun 2021 Form 4 Insider Report for NATIONAL BEVERAGE CORP (FIZZ)

Role: Director
Signature: /s/ Cecil D. Conlee
Issuer symbol: FIZZ
Transactions as of: 08 Jun 2021
Net transactions value: +$60
Form type: 4
Filing time: 10 Jun 2021, 17:58:25 UTC
Previous filing: 10 Jun 2021
Next filing: 09 Dec 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FIZZ	Common Stock	Exercise of in-the-money or at-the-money derivative security	$60	+6,000	+8.4%	$0.0100^*	77,680	08 Jun 2021	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	FIZZ	KEEP STOCK OPTION	Exercise of in-the-money or at-the-money derivative security		-6,000	-11%		48,000	08 Jun 2021	Common Stock	6,000	$0.0100	Direct	F1

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

Explanation of Responses:

Id	Content
F1	Reflects exercise of options granted to Mr. Conlee under the Company's Key Employee Equity Partnership Program ("KEEP") on June 10, 2011. KEEP participants receive a grant equal to 50% of the number of shares of the Company's common stock purchased on the open market. KEEP options are granted at an initial exercise price of 60% of the purchase price of the shares acquired and such price is reduced to the par value of the Company's common stock over a six-year vesting period. Reference is made to Exhibit 10.8 of the Company's Form 10-K for the year ended May 2, 2020.

Content

Reflects exercise of options granted to Mr. Conlee under the Company's Key Employee Equity Partnership Program ("KEEP") on June 10, 2011. KEEP participants receive a grant equal to 50% of the number of shares of the Company's common stock purchased on the open market. KEEP options are granted at an initial exercise price of 60% of the purchase price of the shares acquired and such price is reduced to the par value of the Company's common stock over a six-year vesting period. Reference is made to Exhibit 10.8 of the Company's Form 10-K for the year ended May 2, 2020.