CAPPELLI LOUIS 4
4 · EMPIRE RESORTS INC · Filed Nov 20, 2009
Insider Transaction Report
Form 4
CAPPELLI LOUIS
Director
Transactions
- Sale
Call Options (obligations to sell)
2009-11-13$10.00/sh−100,000$1,000,000→ 0 total(indirect: By LLC)Exercise: $3.00From: 2009-11-13Exp: 2010-12-31→ Common Stock (100,000 underlying)
Footnotes (2)
- [F1]This amount is in addition to an agreement by the holder of the call options reported in this Form 4 to make additional credit available to LRC Acquisition LLC pursuant to an existing credit agreement between the holder and LRC Acquisition LLC.
- [F2]Louis R. Cappelli serves as the managing member and majority owner of LRC Acquisition LLC and Cappelli Resorts LLC, and indirectly owns the shares of Empire Resorts, Inc. ("Empire") common stock reported on this Form 4. LRC Acquisition LLC directly owns 4,200,000 of the shares reported on this Form 4 (the "LRC Shares"). Cappelli Resorts LLC directly owns 1,174,512 of the shares reported on this Form 4 (the "Cappelli Resorts Shares"). Each of LRC Acquisition LLC and Cappelli Resorts LLC beneficially owns less than ten percent (10%) of the outstanding shares of Empire. Each of LRC Acquisition LLC and Cappelli Resorts LLC disclaims beneficial ownership of the shares reported on this Form 4 other than the LRC Shares and the Cappelli Resorts Shares, respectively.