SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP


Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
  
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Zavolta Michelle

(Last) (First) (Middle)
C/O BURGERFI INTERNATIONAL, INC.
200 WEST CYPRESS CREEK ROAD, SUITE 220

(Street)
FORT LAUDERDALE FL 33309

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BurgerFi International, Inc. [ BFI ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief People Officer
3. Date of Earliest Transaction (Month/Day/Year)
05/09/2024
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 05/09/2024(1) M 31,667 A $0 38,376 D
Common Stock 05/09/2024 F 9,391(2) D $0.407 28,985 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units (1)(3) 05/09/2024(1) A 31,667 (1) (1) Common Stock 31,667 $0 31,667 D
Restricted Stock Units (1) 05/09/2024(1) M 31,667 (1) (1) Common Stock 31,667 $0 0 D
Restricted Stock Units (3)(4) 05/09/2024(4) A 63,333 (4) (4) Common Stock 63,333 $0 63,333 D
Explanation of Responses:
1. 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.
2. Shares disposed of represent shares withheld by the issuer to pay taxes due upon vesting of restricted stock units.
3. Each restricted stock unit represents a contingent right to receive one share of BurgerFi International, Inc. common stock.
4. 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
/s/ Christopher Jones as Attorney-in-Fact for Michelle Zavolta 05/13/2024
** Signature of Reporting Person Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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