Brandon Solano - 07 Oct 2024 Form 4 Insider Report for RAVE RESTAURANT GROUP, INC. (RAVE)

Signature
/s/ Brandon Solano
Issuer symbol
RAVE
Transactions as of
07 Oct 2024
Net transactions value
$0
Form type
4
Filing time
09 Oct 2024, 17:01:20 UTC
Previous filing
13 Mar 2024
Next filing
17 Oct 2024

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 RAVE Restricted Stock Units Award $0 +262,500 $0.000000 262,500 07 Oct 2024 Common Stock 198,414 Direct F1, F2, F3
transaction RAVE Restricted Stock Units Award $0 +105,848 $0.000000 105,848 08 Oct 2024 Common Stock 158,772 Direct F1, F4
* 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 the right to receive shares of common stock upon satisfaction of vesting requirements and performance criteria. The performance criteria are based on multiple financial metrics which, if at least minimum criteria are achieved, may yield from 50% to 150% of a share of common stock per restricted stock unit.
F2 Date the Audit Committee determined the total number of shares of Common Stock to be awarded on the vesting date based on the achievement of performance criteria for RSU's granted on June 11, 2022.
F3 Represents the total shares to be issues upon vesting on October 15, 2024, as determined by the Issuer's Audit Committee on October 7, 2024 and based on the achievement of certain performance criteria.
F4 Represents the maximum amount of shares of Common Stock that may be received upon successfully meeting all performance criteria.