Michael Scott Gillespie - 22 Dec 2021 Form 4 Insider Report for Byrna Technologies Inc. (BYRN)

Role: Chief Operating Officer
Signature: /s/ Lisa Wager, by Power of Attorney
Issuer symbol: BYRN
Transactions as of: 22 Dec 2021
Net transactions value: $0
Form type: 4
Filing time: 27 Dec 2021, 17:11:07 UTC
Previous filing: 09 Sep 2021
SEC: View on sec.gov

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	BYRN	Restricted Stock Units	Award		+200,000			200,000	22 Dec 2021	Common stock	200,000		Direct	F1, F2

* 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 share of the common stock of Byrna Technologies Inc. or cash.
F2	The restricted stock units vest as follows: (i) one-third of the units are not subject to any price trigger; (ii)one-third of the units are triggered when the company's common stock trades above $30.00 on a 20-day volume weighted average closing price ("VWAP"), (iii) the final third of the units are triggered when the company's common stock trades above $40 on a 20-day volume weighted average closing price; and (iv) the reporting person must remain employed by the company until November 23, 2024 for the restricted stock untis to vest. The restricted stock units can be settled in cash or in shares of BYRN common stock on or before March 15, 2025.

Content

Each restricted stock unit represents a contingent right to receive one share of the common stock of Byrna Technologies Inc. or cash.

The restricted stock units vest as follows: (i) one-third of the units are not subject to any price trigger; (ii)one-third of the units are triggered when the company's common stock trades above $30.00 on a 20-day volume weighted average closing price ("VWAP"), (iii) the final third of the units are triggered when the company's common stock trades above $40 on a 20-day volume weighted average closing price; and (iv) the reporting person must remain employed by the company until November 23, 2024 for the restricted stock untis to vest. The restricted stock units can be settled in cash or in shares of BYRN common stock on or before March 15, 2025.