SEC Form 4 · accession 0000899243-19-001824
EMPIRE RESORTS INC · NYNY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Emanuel R Pearlman
Officer — Executive Chairman · Director
Period of report
Jan 21, 2019
Accepted (ET)
Jan 23, 2019 · 9:29 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000906780
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Jan 21, 2019 | A | 50,000 | A | — | — | Common Stock, par value $.01 per share | 50,000 | 50,000 | D |
Explanation of responses
- F1Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of Empire Resorts, Inc. (the "Company"). The Company may also elect to settle the vested RSUs for cash at its discretion.
- F2Mr. Pearlman was granted 50,000 RSUs under the Empire Resorts, Inc. 2015 Equity Incentive Plan, as amended (the "Plan"), which RSUs vest annually in three equal installments, with one third vesting on January 21, 2020, one third vesting on January 21, 2021 and one third vesting on January 21, 2022; provided that the RSUs shall vest immediately: (i) upon a Change in Control, or (ii) if Mr. Pearlman is terminated as Executive Chairman for any reason other than for Cause. Subject to Mr. Pearlman's continued employment with the Company, the shares of common stock deliverable upon vesting of the RSUs shall be delivered on January 21, 2022. All capitalized but undefined terms have the meanings ascribed thereto by the Plan.