Brandon Solano - Oct 7, 2024 Form 4 Insider Report for RAVE RESTAURANT GROUP, INC. (RAVE)

Role
Chief Executive Officer
Signature
/s/ Brandon Solano
Stock symbol
RAVE
Transactions as of
Oct 7, 2024
Transactions value $
$0
Form type
4
Date filed
10/9/2024, 05:01 PM
Previous filing
Mar 13, 2024
Next filing
Oct 17, 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 +263K $0.00 263K Oct 7, 2024 Common Stock 198K Direct F1, F2, F3
transaction RAVE Restricted Stock Units Award $0 +106K $0.00 106K Oct 8, 2024 Common Stock 159K 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.