BRC Inc. (BRCC) awards 171,821 restricted stock units to top counsel
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
BRC Inc. reported that its General Counsel & Corporate Secretary, Andrew J. McCormick, received an equity award classified as Class A Common Stock. The filing shows an acquisition of 171,821 units at a price of $0.00 per share, bringing his directly owned total to 582,758 shares.
According to the footnote, this represents an award of restricted stock units under BRC Inc.’s 2022 Omnibus Incentive Plan. The units vest in three equal annual installments beginning on the first anniversary of the grant date, subject to his continuous service. Each restricted stock unit gives a contingent right to receive one share of Class A Common Stock upon settlement for no consideration.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
McCormick Andrew J.
Role
Gen. Counsel & Corp. Secretary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 171,821 | $0.00 | -- |
Holdings After Transaction:
Class A Common Stock — 582,758 shares (Direct)
Footnotes (1)
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FAQ
What insider transaction did BRCC report for Andrew J. McCormick?
BRC Inc. reported that General Counsel & Corporate Secretary Andrew J. McCormick acquired 171,821 restricted stock units. These are classified as Class A Common Stock and were granted at a price of $0.00 per share as part of his equity compensation.
What is the vesting schedule for Andrew J. McCormick’s BRCC restricted stock units?
The 171,821 restricted stock units vest in three equal annual installments, starting on the first anniversary of the grant date. Vesting is subject to Andrew J. McCormick’s continuous service to BRC Inc. through each applicable vesting date under the 2022 Omnibus Incentive Plan.
What does each BRCC restricted stock unit granted to Andrew J. McCormick represent?
Each restricted stock unit represents a contingent right to receive one share of BRC Inc.’s Class A Common Stock. Upon settlement, these shares are delivered for no consideration, meaning no cash payment is required when the units convert into shares.
Under which plan were Andrew J. McCormick’s BRCC restricted stock units granted?
The restricted stock units were granted under BRC Inc.’s 2022 Omnibus Incentive Plan. This plan provides equity-based awards, and McCormick’s units follow the plan’s terms, including three equal annual vesting installments and settlement into Class A Common Stock for no consideration.