Randy Willis - 22 Jun 2022 Form 4 Insider Report for BK Technologies Corp (BKTI)

Role: Chief Operating Officer
Signature: /s/ Randy Willis
Issuer symbol: BKTI
Transactions as of: 22 Jun 2022
Net transactions value: $0
Form type: 4
Filing time: 24 Jun 2022, 19:28:42 UTC
Previous filing: 15 Mar 2022
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	BKTI	Stock Option (Right to Buy)	Award	$0	+30,000		$0.000000	30,000	22 Jun 2022	Common Stock	30,000	$2.48	Direct	F1

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

Explanation of Responses:

Id	Content
F1	The option will vest (a) on June 22, 2023, as to that percentage for which the following performance criteria are met: (i) as to 50% of the shares, achievement of product cost reduction milestones by October 1, 2022; (ii) as to 30% of the shares, achievement of product lead time milestones by December 31, 2022; and (iii) as to 20% of the shares, achievement of product cost reduction milestones by September 1, 2022; or (b) as to any options that do not vest pursuant to subparagraph (a) above, upon a change in control of the Issuer on or before June 22, 2027.

Content

The option will vest (a) on June 22, 2023, as to that percentage for which the following performance criteria are met: (i) as to 50% of the shares, achievement of product cost reduction milestones by October 1, 2022; (ii) as to 30% of the shares, achievement of product lead time milestones by December 31, 2022; and (iii) as to 20% of the shares, achievement of product cost reduction milestones by September 1, 2022; or (b) as to any options that do not vest pursuant to subparagraph (a) above, upon a change in control of the Issuer on or before June 22, 2027.