SEC Form 4 · accession 0001209191-18-059372
Drive Shack Inc. · DS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Hammarley
Officer — Chief Financial Officer
Period of report
Nov 12, 2018
Accepted (ET)
Nov 19, 2018 · 9:33 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001175483
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F1,F2 | $5.44 | Nov 12, 2018 | A | 75,000 | A | — | — | Common Stock, par value $0.01 per share | 75,000 | 75,000 | D |
Explanation of responses
- F1The options vest on November 12, 2021, provided that Mr. Hammarley remains in continuous employment with the Company through such date.
- F2Once vested, the options may be exercised prior to the earliest to occur of: (a) November 12, 2028, (b) the first anniversary of the date of Mr. Hammarley's termination of employment by the Company without cause or due to his death or disability, (c) 90 days following the date of Mr. Hammarley's voluntary termination of employment, and (d) the close of business on the last business day immediately prior to the date of Mr. Hammarley's (i) termination of employment by the Company for cause or (ii) breach of any restrictive covenant set forth in any agreement or arrangement between Mr. Hammarley and the Company.