Byrna Technologies (BYRN) CEO awarded multiple RSU grants with performance hurdles
Rhea-AI Filing Summary
Davis Conn Q. reported acquisition or exercise transactions in this Form 4 filing.
Byrna Technologies Inc. reported that Chief Executive Officer Conn Q. Davis received three grants of restricted stock units (RSUs) on March 2 and March 17, 2026, covering 39,022, 39,022, and 19,395 units. Each RSU represents a contingent right to receive one share of common stock.
One grant is tied to Davis’s appointment as CEO and vests only if the stock’s volume-weighted average price over the final 90 days of a two-year period reaches at least 156% of the March 2, 2026 closing price and he remains in service through March 2, 2028, with certain change-of-control acceleration protections. Other grants were made under the company’s Long Term Incentive Program, vesting in three equal tranches on March 17, 2027, March 2, 2028, and March 2, 2029, or on November 30, 2028 based on preset revenue levels for the fiscal year ending November 30, 2027 and continued employment or qualifying termination, with similar acceleration on death, disability, or certain change-of-control terminations.
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- None.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 39,022 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 39,022 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 19,395 | $0.00 | -- |
Footnotes (1)
- Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of Byrna Technologies Inc. (the "Issuer"). The RSUs were granted in connection with the Reporting Person's appointment as Chief Executive Officer of the Issuer. Pursuant to the terms of an offer letter entered into effective March 2, 2026 (the "Agreement") and attached as an exhibit to the Form 8-K filed by the Issuer on March 3, 2026, the vesting of the RSUs is conditioned upon (i) the volume-weighted average price of the Issuer's common stock over the final 90 days of a two-year performance period equaling or exceeding 156% of the Issuer's closing stock price on March 2, 2026, and (ii) the Reporting Person's continuous service to the Issuer through March 2, 2028, subject to acceleration upon certain terminations following a change of control of the Issuer. The RSUs were granted pursuant to the Issuer's Long Term Incentive Program. The RSUs vest in three equal tranches on March 17, 2027, March 2, 2028 and March 2, 2029, subject the Reporting Person's continuous service to the Issuer through each such vesting date. Such vesting will be accelerated upon the death or disability of the Reporting Person or upon the termination of the Reporting Person without cause or resignation by the Reporting Person for good reason within 12 months following a qualifying change of control transaction. The RSUs were granted pursuant to the Issuer's Long Term Incentive Program. The RSUs are performance-based and will vest on November 30, 2028 if and to the extent that (a) the Issuer achieves preset revenue levels for its fiscal year ending November 30, 2027 and (b) the Reporting Person (i) remains employed by the Issuer through November 30, 2028 or (ii) is terminated without cause after November 30, 2027. Such vesting will be accelerated upon the death or disability of the Reporting Person or upon the termination of the Reporting Person without cause or resignation by the Reporting Person for good reason within 12 months following a qualifying change of control transaction.
