Byrna Technologies Details $646K Separation Package for Former President Luan Pham
Summary
Byrna Technologies filed an amended 8-K detailing the separation agreement with former President Luan Pham, including a cash severance of $380,000, a $145,170 pro-rata incentive payment, and accelerated vesting of 20,810 restricted stock units.
Key Events
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Separation Agreement Finalized
Byrna Technologies Inc. entered into a Separation Agreement and General Release with former President Luan Pham, effective June 17, 2026, following his employment termination on June 13, 2026.
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Cash Severance and Incentive Payment
Mr. Pham will receive a cash severance of $380,000 (1.0 times his annual base salary) and a lump-sum pro-rata short-term incentive payment of $145,170.
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Accelerated Equity Vesting
20,810 restricted stock units (comprising 10,405 time-based and 10,405 performance-based RSUs) granted on March 17, 2026, will vest in full as of the Separation Date, valued at approximately $121,522 based on the current stock price.
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Restrictive Covenants Reaffirmed
The agreement includes Mr. Pham's reaffirmation of post-employment restrictive covenants, including non-competition, non-solicitation, and confidentiality obligations.
Analysis
This amendment to a prior 8-K provides the financial terms of former President Luan Pham's separation, which was previously announced on June 15, 2026. The total quantifiable cost to the company, including cash severance, a pro-rata incentive payment, and accelerated vesting of restricted stock units, amounts to approximately $646,692. This represents a notable financial outlay for the company following a key executive's departure.
At the time of this filing, BYRN was trading at $5.84 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $133.8M. The 52-week trading range was $4.84 to $34.30. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.