NATIONAL BEVERAGE CORP — Director's Dealing 2021

Dec 9, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL BEVERAGE CORP (FIZZ)
CIK: 0000069891
Period of Report: 2021-12-07

Reporting Person: CONLEE CECIL D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-12-07	Common Stock	X	4400	$0.01	Acquired	82080	Direct
2021-12-07	Common Stock	X	1600	$0.01	Acquired	83680	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-12-07	KEEP STOCK OPTION	$0.01	X	4400	Disposed	2025-06-10	Common Stock (4400)	Direct
2021-12-07	KEEP STOCK OPTION	$0.01	X	1600	Disposed	2025-09-24	Common Stock (1600)	Direct

Footnotes

F1: Reflects exercise of options granted to Mr. Conlee under the Company's Key Employee Equity Partnership Program ("KEEP") on June 10, 2015. KEEP participants receive a grant equal to 50% of the number of shares of the Company's common stock purchased on the open market. KEEP options are granted at an initial exercise price of 60% of the purchase price of the shares acquired and such price is reduced to the par value of the Company's common stock over a six-year vesting period. Reference is made to Exhibit 10.8 of the Company's Form 10-K for the year ended May 1, 2021.

F2: Reflects exercise of options granted to Mr. Conlee under the Company's Key Employee Equity Partnership Program ("KEEP") on September 24, 2015. KEEP participants receive a grant equal to 50% of the number of shares of the Company's common stock purchased on the open market. KEEP options are granted at an initial exercise price of 60% of the purchase price of the shares acquired and such price is reduced to the par value of the Company's common stock over a six-year vesting period. Reference is made to Exhibit 10.8 of the Company's Form 10-K for the year ended May 1, 2021.