BurgerFi International, Inc. Quarterly report pursuant to Section 13 or 15(d)

Share-based Compensation (Tables)

3 Months Ended

Mar. 31, 2021

The input variables for the Black Scholes are noted in the table below:

The following table summarizes activity of Restricted Stock Units during the three months ended March 31, 2021:


	Number of Restricted Stock Units		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2020		1,250,000	$	15.28
Granted		1,105,700		14.62
Vested		—		—
Forfeited		—		—

Non-vested at March 31, 2021		2,355,700	$	14.97

The following table summarizes activity of the restricted stock units by vesting condition during the three months ended March 31, 2021:


	Performance Condition				Service Condition				Market Condition
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2020		950,000	$	15.70		200,000	$	15.70		100,000	$	10.45
Granted		713,700		16.15		52,000		16.15		340,000		11.17
Vested		—		—		—		—		—		—
Forfeited		—		—		—		—		—		—

Non-vested at March 31, 2021		1,663,700	$	15.89		252,000	$	15.79		440,000	$	11.01

The input variables are noted in the table below:

(a)	The Monte Carlo method assumes a reinvestment of dividends.