4//SEC Filing
SPENCER CHRISTOPHER J 4
Accession 0001654954-20-013738
CIK 0001667489other
Filed
Dec 17, 7:00 PM ET
Accepted
Dec 18, 3:53 PM ET
Size
6.8 KB
Accession
0001654954-20-013738
Insider Transaction Report
Form 4
SPENCER CHRISTOPHER J
DirectorCEO and Chairman of the Board
Transactions
- Disposition to Issuer
Common Stock
2020-07-31−700,000→ 2,128,795 total - Disposition to Issuer
Common Stock
2020-07-31$3.00/sh−1,353,795$4,061,385→ 775,000 total
Footnotes (3)
- [F1]Includes 550,000 shares that were forfeited pursuant to the forfeiture clauses of the Stock Agreement, dated as of December 15, 2017, between the Liberated Syndication Inc. (the "Company") and Mr. Spencer, and 150,000 shares that were forfeited pursuant to the Settlement Agreement, made and entered into on October 4, 2019, among the Company and Camac Fund, LP and its affiliates.
- [F2]Mr. Spencer sold the shares pursuant to the terms of the Separation and Transition Services Agreement and General Release, made and entered into on July 31, 2020, by and between the Company and Mr. Spencer (the "Separation Agreement").
- [F3]Includes 550,000 shares that are subject to a put option pursuant to the Separation Agreement. Such put option grants Mr. Spencer the right, for a period of one year beginning on the earlier of (a) December 30, 2020 and (b) any date on which the Company declares a rights offering, to put such shares to the Company at a purchase price of $2.50 per share.
Documents
Issuer
Liberated Syndication Inc.
CIK 0001667489
Entity typeother
Related Parties
1- filerCIK 0001275526
Filing Metadata
- Form type
- 4
- Filed
- Dec 17, 7:00 PM ET
- Accepted
- Dec 18, 3:53 PM ET
- Size
- 6.8 KB