Conlee Cecil D - Dec 22, 2023 Form 4 Insider Report for NATIONAL BEVERAGE CORP (FIZZ)

Role: Director
Signature: /s/ Cecil D. Conlee
Stock symbol: FIZZ
Transactions as of: Dec 22, 2023
Transactions value $: $36,000
Form type: 4
Date filed: 12/27/2023, 04:45 PM
Previous filing: Dec 15, 2023
Next filing: Apr 11, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FIZZ	Common Stock	Options Exercise	$36K	+24K	+49.5%	$1.50^*	72.5K	Dec 22, 2023	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	Special Stock Option	Options Exercise		-24K	-57.14%		18K	Dec 22, 2023	Common Stock	24K	$1.50	Direct	F1

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

Explanation of Responses:

Id	Content
F1	Options granted under the Company's Special Stock Option Plan vest over an eight-year period in relatively equal amounts at approximately 16-month intervals. The exercise price can be reduced and the vesting schedule can be accelerated by the optionee purchasing and maintaining ownership of shares of common stock and/or the Company achieving performance objectives as determined by the Board of Directors. Mr. Conlee's option was granted on August 27, 2014, became fully vested on April 27, 2023, and was set to expire on August 26, 2024. Reference is made to Exhibit 10.6 of the Company's Form 10-K for the year ended April 29, 2023.

Content

Options granted under the Company's Special Stock Option Plan vest over an eight-year period in relatively equal amounts at approximately 16-month intervals. The exercise price can be reduced and the vesting schedule can be accelerated by the optionee purchasing and maintaining ownership of shares of common stock and/or the Company achieving performance objectives as determined by the Board of Directors. Mr. Conlee's option was granted on August 27, 2014, became fully vested on April 27, 2023, and was set to expire on August 26, 2024. Reference is made to Exhibit 10.6 of the Company's Form 10-K for the year ended April 29, 2023.