EMPIRE RESORTS INC 4

4 · EMPIRE RESORTS INC · Filed Jun 18, 2009

Form 4

Period: 2009-06-16

Chief Executive Officer

Transactions

Award
Stock Option (Right to Buy)
2009-06-16+1,000,000→ 1,000,000 total
Exercise: $1.78Exp: 2019-06-07→ Common Stock, $.01 par value per share (1,000,000 underlying)
Award
Stock Option (Right to Buy)
2009-06-16+250,000→ 250,000 total
Exercise: $1.14Exp: 2014-04-26→ Common Stock, $.01 par value per share (250,000 underlying)
Award
Stock Option (Right to Buy)
2009-06-16+250,000→ 250,000 total
Exercise: $1.14From: 2009-06-16Exp: 2014-04-26→ Common Stock, $.01 par value per share (250,000 underlying)
Award
Stock Option (Right to Buy)
2009-06-16+500,000→ 500,000 total
Exercise: $1.78Exp: 2014-06-07→ Common Stock, $.01 par value per share (500,000 underlying)

Footnotes (2)

[F1]The options will vest upon the consummation of a debt restructure transaction with an entity sourced by Mr. Bernstein pursuant to the terms of Mr. Bernstein's employment agreement.
[F2]33% of the options will vest on December 1, 2009, 33% of the options will vest on June 1, 2010 and 34% of the options will vest on December 1, 2010, provided, however, that all such options shall vest on December 31, 2009 if Mr. Bernstein?s employment agreement is not extended for an additional 12 months after December 31, 2009 and he has not resigned or been terminated for cause pursuant to the terms of such employment agreement.

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