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<?xml version="1.0" encoding="windows-1252"?> |
<ownershipDocument> |
| <schemaVersion> X0508 </schemaVersion> |
| <documentType> 4 </documentType> |
| <periodOfReport> 2023-12-22 </periodOfReport> |
| <issuer> |
| | <issuerCik> 0000069891 </issuerCik> |
| | <issuerName> NATIONAL BEVERAGE CORP </issuerName> |
| | <issuerTradingSymbol> FIZZ </issuerTradingSymbol> |
| | </issuer> |
| <reportingOwner> |
| | <reportingOwnerId> |
| | | <rptOwnerCik> 0001024406 </rptOwnerCik> |
| | | <rptOwnerName> CONLEE CECIL D </rptOwnerName> |
| | | </reportingOwnerId> |
| | <reportingOwnerAddress> |
| | | <rptOwnerStreet1> 8100 SW 10TH STREET </rptOwnerStreet1> |
| | | <rptOwnerStreet2> SUITE 4000 </rptOwnerStreet2> |
| | | <rptOwnerCity> PLANTATION </rptOwnerCity> |
| | | <rptOwnerState> FL </rptOwnerState> |
| | | <rptOwnerZipCode> 33324 </rptOwnerZipCode> |
| | | <rptOwnerStateDescription></rptOwnerStateDescription> |
| | | </reportingOwnerAddress> |
| | <reportingOwnerRelationship> |
| | | <isDirector> 1 </isDirector> |
| | | </reportingOwnerRelationship> |
| | </reportingOwner> |
| <aff10b5One> 0 </aff10b5One> |
| <nonDerivativeTable> |
| | <nonDerivativeTransaction> |
| | | <securityTitle> |
| <value> Common Stock </value> |
| </securityTitle> |
| | | <transactionDate> |
| <value> 2023-12-22 </value> |
| </transactionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> M </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| </transactionCoding> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 24000 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 1.50 </value> |
| <footnoteId id="F1"/> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> A </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 72480 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </nonDerivativeTransaction> |
| | </nonDerivativeTable> |
| <derivativeTable> |
| | <derivativeTransaction> |
| | | <securityTitle> |
| <value> Special Stock Option </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <value> 1.50 </value> |
| <footnoteId id="F1"/> |
| </conversionOrExercisePrice> |
| | | <transactionDate> |
| <value> 2023-12-22 </value> |
| </transactionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> M </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| </transactionCoding> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 24000 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <footnoteId id="F1"/> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> D </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <exerciseDate> |
| <footnoteId id="F1"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <footnoteId id="F1"/> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 24000 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 18000 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeTransaction> |
| | </derivativeTable> |
| <footnotes> |
| | <footnote id="F1"> Options granted under the Company's Special Stock Option Plan vest over an eight-year period in relatively equal amounts at approximately 16-month intervals. The exercise price can be reduced and the vesting schedule can be accelerated by the optionee purchasing and maintaining ownership of shares of common stock and/or the Company achieving performance objectives as determined by the Board of Directors. Mr. Conlee's option was granted on August 27, 2014, became fully vested on April 27, 2023, and was set to expire on August 26, 2024. Reference is made to Exhibit 10.6 of the Company's Form 10-K for the year ended April 29, 2023. </footnote> |
| | </footnotes> |
| <ownerSignature> |
| | <signatureName> /s/ Cecil D. Conlee </signatureName> |
| | <signatureDate> 2023-12-27 </signatureDate> |
| | </ownerSignature> |
| </ownershipDocument> |