SEC Form 4 · accession 0000903423-18-000039
EMPIRE RESORTS INC · NYNY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Period of report
Jan 24, 2018
Accepted (ET)
Jan 25, 2018 · 4:34 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000906780
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3 | Jan 24, 2018 | P | 1,666 | $15.00 | A | 28,914,606 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Under the terms of the Investment Agreement (the "Investment Agreement"), dated August 19, 2009, as amended on September 30, 2009 and December 31, 2015, by and between Empire Resorts, Inc. and Kien Huat Realty III Limited ("Kien Huat"), if any option or warrant outstanding as of the initial closing of the transactions contemplated by the Investment Agreement on August 19, 2009 (the "Initial Closing") or the subsequent closing on November 12, 2009 (the "Subsequent Closing") (or, in limited circumstances, if issued after the Subsequent Closing) is exercised after the Initial Closing, Kien Huat shall have the right (following notice of such exercise) to purchase an equal number of additional shares of Common Stock as are issued upon such exercise at the exercise price for the applicable option or warrant (such right, the "Option Matching Right").
- F2On January 24, 2018, Kien Huat exercised its Option Matching Right to purchase the additional 1,666 shares of Common Stock reflected in this Form 4 following the issuance of such number of shares to a holder of options upon his exercise of options to purchase shares of Common Stock.
- F3Kien Huat has direct beneficial ownership of the 28,914,606 shares reported in this Form 4 (the "Shares"). Lim Kok Thay ("Mr. Lim") controls Kien Huat through two trusts that directly and indirectly own all the shares of Kien Huat and, therefore, Mr. Lim has indirect beneficial ownership of such Shares. Mr. Lim has the power to remove and replace the trustees of such trusts in his sole discretion and is one of the beneficiaries of such trusts. Mr. Lim disclaims beneficial ownership of the Shares for purposes of Section 16 reporting except to the extent of his pecuniary interest.