Michael F. Burns Jr - Oct 16, 2023 Form 4 Insider Report for RAVE RESTAURANT GROUP, INC. (RAVE)

Signature
/s/ Michael F. Burns, Jr
Stock symbol
RAVE
Transactions as of
Oct 16, 2023
Transactions value $
-$36,043
Form type
4
Date filed
10/18/2023, 04:09 PM
Previous filing
Sep 27, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RAVE COMMON STOCK Options Exercise $0 +42.3K $0.00 42.3K Oct 16, 2023 Direct F1
transaction RAVE COMMON STOCK Tax liability -$36K -18.1K -30% $1.99 42.3K Oct 16, 2023 Direct F1

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 RAVE RESTRICTED STOCK UNITS Disposed to Issuer -53.7K -100% 0 Oct 16, 2023 COMMON STOCK 60.4K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the shares of Common Stock (a) issued on October 16, 2023, after vesting of restricted stock units awarded under the Issuer's 2015 Long Term Incentive Plan pursuant to completion of the requirements and performance criteria set forth in such plan, (b) net of the Issuer's retention of 8,741 shares the Reporting Person had the right to receive for tax withholding purposes pursuant to the plan based on the closing price of the Issuer's Common Stock on October 13, 2023.
F2 Reflects restricted stock units representing the right to receive shares of Common Stock upon satisfaction of vesting requirements and performance criteria. The performance criteria are based on multiple financial metrics.