Michael E. Franklin - Apr 6, 2023 Form 4 Insider Report for Whole Earth Brands, Inc. (FREE)

Role
Interim CEO, Director
Signature
/s/ Michael E Franklin, by Ira W. Schlussel, as Attorney-in-Fact
Stock symbol
FREE
Transactions as of
Apr 6, 2023
Transactions value $
$0
Form type
4
Date filed
4/10/2023, 04:06 PM
Previous filing
Sep 1, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction FREE Restricted Stock Units Award $0 +742K $0.00 742K Apr 6, 2023 Common Stock 742K Direct F1, F2
transaction FREE Performance-Based Restricted Stock Units Award $0 +742K $0.00 742K Apr 6, 2023 Common Stock 742K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units convert into shares of Whole Earth Brands, Inc.'s common stock on a one-for-one basis.
F2 Subject to the reporting person's continuous employment through March 31, 2024, the restricted stock units shall vest on April 6, 2024 (the one-year anniversary of the grant date), except (a) in the case of the reporting person's earlier termination by the Company without cause or by the reporting person for good reason, or (b) upon a change in control of the company, in which case the restricted stock units will vest in full upon the occurrence of such earlier event.
F3 Subject to the reporting person's continuous employment through March 31, 2024, and upon achievement by the Company of certain pre-established financial performance goals, the performance-based restricted stock units shall vest on April 6, 2024 (the one-year anniversary of the grant date), except (a) in the case of the reporting person's earlier termination by the Company without cause or by the reporting person for good reason, or (b) upon a change in control of the company, in which case the performance-based restricted stock units will vest in full upon the occurrence of such earlier event.