Key facts
- This page summarizes Ophir Sternberg's Form 4 filing for BurgerFi International, Inc..
- 2 reported transactions and 1 derivative row are listed below.
- Accepted by SEC: 11 Apr 2024, 16:15.
Ophir Sternberg - 09 Apr 2024 Form 4 Insider Report for BurgerFi International, Inc.
- Reporting relationship
- Executive Chairman, Director, 10%+ Owner
- Issuer ticker
- N/A
- Reported as of
- 09 Apr 2024
- Net transaction value
- $0
- SEC form
- 4
- Accepted by SEC
- 11 Apr 2024, 16:15:16 UTC
- Prior SEC filing
- 03 Jan 2024
- Next SEC filing
- 17 Jun 2024
- Source filing
- View source filing
- Reporting owner signature
- /s/ Ophir Sternberg
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Key filing fact
Ophir Sternberg filed Form 4 for BurgerFi International, Inc. on 11 Apr 2024.
Change
- Previous filing in this sequence was filed on 03 Jan 2024.
- Current net transaction value: $0.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
BFI
transaction
Common Stock
Options Exercise
- Transaction value
- Shares
- +140,000
- Change %
- +9%
- Price
- Shares after
- 1,695,956
- Date
- 09 Apr 2024
- Ownership
- Direct
- Footnotes
- F1, F2, F3, F4
BFI
holding
Common Stock
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,878,725
- Date
- 09 Apr 2024
- Ownership
- Lionheart Equities, LLC
- Footnotes
- F5
BFI
holding
Common Stock underlying Units
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 150,000
- Date
- 09 Apr 2024
- Ownership
- Lionheart Equities, LLC
- Footnotes
- F5, F6
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
BFI
transaction
Derivative
Restricted Stock Units
Options Exercise
- Transaction value
- $0
- Shares
- -140,000
- Change %
- -30%
- Price
- $0.000000
- Shares after
- 330,000
- Date
- 09 Apr 2024
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 140,000
- Exercise price
- Footnotes
- F1, F2, F3, F4
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 6 footnotes
Footnote F1
The shares are part of a grant of 700,000 restricted stock units made, for financial reporting purposes, on December 16, 2020, under the issuer's 2020 Omnibus Equity Incentive Plan (the "Plan"). The legal grant date of the restricted stock units was July 13, 2021, the date that applicable grant award agreements were executed by the issuer and the Reporting Person; provided, however, that 73% (511,000 shares) of the total restricted stock units were not issued (deemed or otherwise) under the Plan until the aggregate number of shares reserved for awards under the Plan was increased on January 1, 2022 consistent with Section 5.1 of the Plan. The restricted stock units shall vest and be settled in shares of common stock as follows: (i) 20%, or 140,000 of the 700,000 restricted stock units if the issuer's revenue (the "Company Revenue") for fiscal year 2021,
Footnote F2
(Continued from footnote 1) as calculated and presented in the issuer's audited financial statements included in the Form 10-K report for the relevant year, was 10% or greater than was $34,382,000 ("Base Year Revenue"); (ii) 20%, or 140,000 of the 700,000 restricted stock units, shall vest if the Company Revenue for fiscal year 2022 was 20% or greater than the Base Year Revenue; (iii) 20%, or 140,000 of the 700,000 restricted stock units, shall vest if the Company Revenue for fiscal year 2023 was 30% or greater than the Base Year Revenue, (iv) 20%, or 140,000 of the 700,000 restricted stock units,
Footnote F3
(Continued from footnote 2) shall vest if the Company Revenue for fiscal year 2024 is 40% or greater than the Base Year Revenue and (v) 20%, or 140,000 of the 700,000 restricted stock units, shall vest if the Company Revenue for fiscal year 2025 is 50% or greater than the Base Year Revenue, subject to earlier vesting due to a change of control or certain termination or resignation events. On April 9, 2024, 140,000 of the restricted stock units vested based on achievement of Company Revenue for fiscal year 2023 that was 30% or greater than the Base Year Revenue.
Footnote F4
Each restricted stock unit represents a contingent right to receive one share of BurgerFi International, Inc. common stock.
Footnote F5
The Reporting Person, as manager and sole member of Lionheart Equities, LLC, has sole voting and dispositive control over the holdings.
Footnote F6
Each Unit consists of one share of common stock and one warrant exercisable to purchase one share of common stock at an exercise price of $11.50 per share.