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

Role: Chief Strategy Officer
Signature: /s/ Lisa Wager, by Power of Attorney
Stock symbol: BYRN
Transactions as of: Dec 22, 2021
Transactions value $: $0
Form type: 4
Date filed: 12/27/2021, 05:12 PM
Previous filing: Oct 18, 2021
Next filing: Feb 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	BYRN	Restricted Stock Units	Award		+90K			90K	Dec 22, 2021	Common stock	90K		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 VWAP; and (iv) the reporting person must remain employed by the company until August 31, 2023 for the restricted stock units to vest. The restricted stock units can be settled in cash or in shares of BYRN common stock on or before March 15, 2024.

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 VWAP; and (iv) the reporting person must remain employed by the company until August 31, 2023 for the restricted stock units to vest. The restricted stock units can be settled in cash or in shares of BYRN common stock on or before March 15, 2024.