Sarachek Joseph E 4
4 · EMERGENT CAPITAL, INC. · Filed Jun 10, 2019
Insider Transaction Report
Form 4
Sarachek Joseph E
Director10% Owner
Transactions
- Exercise/Conversion
Common Stock, par value $.01 per share
2018-09-30+400,000→ 400,000 total - Exercise/Conversion
Restricted Stock Units
2018-09-30−400,000→ 0 total→ Common Stock, par value $0.01 per share (400,000 underlying)
Holdings
- 7,320,038(indirect: By LLC)
Common Stock, par value $.01 per share
- 13,575,000(indirect: By LLC)
Warrants (right to buy)
Exercise: $0.20Exp: 2023-07-28→ Common Stock, par value $0.01 per share (13,575,000 underlying) - 100,000
Stock Appreciation Right
Exercise: $1.00Exp: 2028-06-28→ Common Stock, par value $0.01 per share (100,000 underlying)
Footnotes (4)
- [F1]Mr. Sarachek is the principal and manager of TopCo 1, LLC, which is the manager of JSARCo, LLC.
- [F2]Of such warrants, 8,750,000 vested on July 28, 2017 and 4,825,000 will vest in connection with the conversion of the issuer's senior unsecured convertible notes outstanding as of July 28, 2017 (the "Outstanding Convertible Notes") into shares of the issuer's common stock on a 1 to 1 basis, or earlier upon the earliest date on which (x) at least 50% of the aggregate principal amount of the Outstanding Convertible Notes are converted into shares of the issuer's common stock, or (y) all of the Outstanding Convertible Notes are no longer outstanding.
- [F3]Each Restricted Stock Unit represents a contingent right to receive one share of the Issuer's Common Stock.
- [F4]The awards vest on the later of September 30, 2018 or the date of termination of the Reporting Person's service on the Capital Structure Committee of the Issuer's Board of Directors.