Pham Luan bought BYRN

May 17, 2024 · Form 4 insider transaction

Pham Luan bought 20,000 shares of Byrna Technologies Inc. at $0.00 per share, a transaction worth N/A. The trade was recorded as gift and disclosed on an SEC Form 4, filed 424 days after the transaction.

Direction
Acquired (buy-side)
Shares
20,000
Price
$0.00
Total value
N/A
InsiderPham Luan
Role
SecurityRestricted Stock Units
Transaction codeG: Gift
Transaction dateMay 17, 2024
Filing dateJuly 15, 2025
Shares owned after20,000
OwnershipDirect
10b5-1 planNo
AmendedNo

Footnotes

Each restricted stock unit represents a contingent right to receive one share of the common stock of Byrna Technologies Inc. (the "Issuer").; Pursuant to the terms of an employment agreement between the Issuer and Bryan Ganz ("Ganz") effective 9/1/2023 (the "Agreement") and filed with the Issuer's Form 8-K on 9/18/2023, the vesting of the RSUS is subject to a double trigger of performance and time: (i) the performance hurdle for 1/3 of the units is met when the Issuer's common stock trades above $6.00 on a 20-day volume weighted average closing price ("VWAP"); (ii) the performance hurdle for 1/3 of the units is met when the Issuer's common stock trades above $9.00 on a 20-day VWAP; (iii) the performance hurdle for the final one-third of the will be met when the Issuer's common stock trades above $12 on a 20-day VWAP; and (iv) subject to specific modifications detailed in the Agreement for a termination through a Qualified Retirement (as defined therein), without cause, by resignation, by virtue of death or disability, or through a Change in Control, Ganz must remain employed by the Issuer until 8/31/2026.; By agreements dated May 17, 2024, Ganz, with the consent of the Compensation Committee of the Issuer's Board of Directors and consistent with the terms of the Issuer's equity incentive plan, assigned 20,000 of the units to the reporting person as a bona fide gift. The assignment did not alter any of the vesting conditions set forth in note 2, including the performance triggers or the requirement that, subject to specific modifications noted, that Ganz remain employed through August 31, 2026 for the units to vest. In the event the reporting person ceases to be employed by the Issuer such date, ownership of the Assigned Units will revert to Ganz.

View the original Form 4 on SEC EDGAR