Michelle Zavolta - 09 May 2024 Form 4 Insider Report for BurgerFi International, Inc. (BFI)

Role
Chief People Officer
Signature
/s/ Christopher Jones as Attorney-in-Fact for Michelle Zavolta
Issuer symbol
BFI
Transactions as of
09 May 2024
Net transactions value
-$3,822
Form type
4
Filing time
13 May 2024, 20:59:37 UTC
Previous filing
12 May 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BFI Common Stock Options Exercise $0 +31,667 +472% $0.000000 38,376 09 May 2024 Direct F1
transaction BFI Common Stock Tax liability $3,822 -9,391 -24% $0.4070 28,985 09 May 2024 Direct F2

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 BFI Restricted Stock Units Award $0 +31,667 $0.000000 31,667 09 May 2024 Common Stock 31,667 Direct F1, F3
transaction BFI Restricted Stock Units Options Exercise $0 -31,667 -100% $0.000000* 0 09 May 2024 Common Stock 31,667 Direct F1
transaction BFI Restricted Stock Units Award $0 +63,333 $0.000000 63,333 09 May 2024 Common Stock 63,333 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 9, 2024, the Reporting Person was granted 31,667 restricted stock units under the issuer's 2020 Omnibus Equity Incentive Plan, which vested in full on the grant date in recognition of services previously rendered to the issuer by the Reporting Person as Chief People Officer for the fiscal year ended January 1, 2024.
F2 Shares disposed of represent shares withheld by the issuer to pay taxes due upon vesting of restricted stock units.
F3 Each restricted stock unit represents a contingent right to receive one share of BurgerFi International, Inc. common stock.
F4 On May 9, 2024, the Reporting Person was granted 63,333 restricted stock units under the issuer's 2020 Omnibus Equity Incentive Plan, which shall vest in two annual installments each equal to 50% of the aggregate 63,333 restricted stock units granted, beginning March 29, 2025, subject to achievement of certain key performance criteria, the Reporting Person remaining continuously employed by the issuer at the time of vesting and early vesting or forfeiture due to a change of control or certain termination events.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney