0001437749-23-034626.txt : 20231215 0001437749-23-034626.hdr.sgml : 20231215 20231215200218 ACCESSION NUMBER: 0001437749-23-034626 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230831 FILED AS OF DATE: 20231215 DATE AS OF CHANGE: 20231215 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Ganz Bryan CENTRAL INDEX KEY: 0001318455 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-40385 FILM NUMBER: 231491970 MAIL ADDRESS: STREET 1: C/O ARRHYTHMIA RESEARCH TECHNOLOGY, INC. STREET 2: 25 SAWYER PASSWAY CITY: FITCHBURG STATE: MA ZIP: 01420 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Byrna Technologies Inc. CENTRAL INDEX KEY: 0001354866 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690] IRS NUMBER: 711050654 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 BUSINESS ADDRESS: STREET 1: 100 BURTT ROAD STREET 2: SUITE 115 CITY: ANDOVER STATE: MA ZIP: 01810 BUSINESS PHONE: 978-868-5011 MAIL ADDRESS: STREET 1: 100 BURTT ROAD STREET 2: SUITE 115 CITY: ANDOVER STATE: MA ZIP: 01810 FORMER COMPANY: FORMER CONFORMED NAME: Security Devices International Inc. DATE OF NAME CHANGE: 20060301 4 1 rdgdoc.xml FORM 4 X0508 4 2023-08-31 0001354866 Byrna Technologies Inc. BYRN 0001318455 Ganz Bryan 100 BURTT ROAD, SUITE 115 ANDOVER MA 01810 1 1 President and CEO 0 Restricted Stock Units 2023-08-31 4 D 0 150000 0 D 2023-08-31 Common Stock 150000 300000 D Restricted Stock Units 2023-12-05 4 A 0 600000 0 A Common stock 600000 600000 D Each restricted stock unit represents a contingent right to receive one share of the common stock of Byrna Technologies Inc. (the "Issuer") The restricted stock units consisted of 300,000 Units with a $20 20-day volume weighted average price ("VWAP") performance trigger and 150,000 restricted stock units with a $30 20-day VWAP performance trigger ("$30 Trigger"). The reporting person was required to remain in service to the Company through August 31, 2023 for any units to vest. On August 31, 2023, 300,000 of the restricted stock units vested, but have not yet been settled, and 150,000 of the restricted stock units were forfeited. Pursuant to the terms of an employment agreement entered into effective September 1, 2023 (the "Agreement") and attached in full to the Form 8-K filed by the Issuer on September 18, 2023, the vesting of the units is subject to a double trigger of performance and time providing that (i) performance hurdles for three equal tranches, each consisting 200,000 units, will be met when the Issuer's common stock trades above $6.00, $9.00 and $12..00, respectively on a 20-day volume weighted average closing price ("VWAP"), and (ii) subject to specific modifications detailed in the Agreement for a termination through a "Qualified Retirement" without cause, by resignation, by virtue of death or disability, or through a "Change in Control", the reporting person must remain employed by the Issuer until August 31, 2026 for the restricted stock units to vest. See the Form 8K for a fuller summary of its terms and the Agreement attached thereto for additional details. /s/ Lisa Klein Wager by Power of Attorney 2023-12-15