BurgerFi International, Inc. Post-effective amendment to a registration statement that is not immediately effective upon filing

Share-based Compensation (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2021

Dec. 31, 2020

The input variables are noted in the table below:

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

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

The following table summarizes activity of Restricted Stock Units during the nine months ended September 30, 2021:


	Number of Restricted Stock Units			Weighted Average Grant Date Fair Value
Non-vested at December 31, 2020		1,250,000		$	15.28
Granted		1,320,700		$	13.48
Vested		(5,000	)	$	10.66
Forfeited		(268,400	)	$	13.92

Non-vested at September 30, 2021		2,297,300		$	14.37

The following table summarizes activity of Restricted Shares during 2020 (there was no activity prior to December 16, 2020):


	Number of Restricted Shares			Weighted Average Grant Date Fair Value
Granted on December 16, 2020		1,300,000		$	15.30
Vested		(50,000	)		15.70
Forfeited		—			—

Non-vested at December 31, 2020		1,250,000		$	15.28

The input variables are noted in the table below:

The following table summarizes activity of the restricted stock units by vesting condition during the nine months ended September 30, 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		783,700		$	15.49		77,000		$	14.37		460,000		$	9.91
Vested		—					(5,000	)	$	10.66		—
Forfeited		(148,400	)	$	16.15		—					(120,000	)	$	11.17

Non-vested at September 30, 2021		1,585,300		$	15.54		272,000		$	15.42		440,000		$	9.50

The following table summarizes activity of the restricted shares during 2020 (there was no activity prior to December 16, 2020):


	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
Granted		950,000	$	15.70		250,000		$	15.70		100,000	$	10.45
Vested		—		—		(50,000	)		15.70		—		—
Forfeited		—		—		—			—		—		—

Non-vested at December 31, 2020		950,000	$	15.70		200,000		$	15.70		100,000	$	10.45