CAPPELLI LOUIS 4
4 · EMPIRE RESORTS INC · Filed Nov 24, 2010
Insider Transaction Report
Form 4
CAPPELLI LOUIS
Director
Transactions
- Sale
Common Stock, $0.1 par value per share
2010-11-22$1.34/sh−135,376$181,796→ 5,347,469 total(indirect: By LLC)
Footnotes (2)
- [F1]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.30 to $1.49, inclusive. The Reporting Persons undertake to provide to Empire Resorts, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (1).
- [F2]Louis R. Cappelli ("Cappelli") serves as the managing member and majority owner of LRC Acquisition LLC ("LRC") and Cappelli Resorts LLC ("Resorts"). Through LRC and Resorts, Cappelli indirectly owns 5,239,136 shares of the Company's Common Stock, $.01 par value per share ("Common Stock"). In addition, Cappelli directly owns (i) options which are currently exercisable to purchase 98,333 shares of Common Stock and (ii) 10,000 shares of restricted Common Stock granted on January 4, 2010 pursuant to the Company's 2005 Equity Incentive Plan, which shares will vest on January 4, 2011. LRC directly owns 4,064,624 of shares of Common Stock. Resorts directly owns 1,174,512 shares of Common Stock. Each of Cappelli, LRC and Resorts beneficially owns less than ten percent (10%) of the outstanding shares of the Company. Each of Cappelli, LRC and Resorts disclaims beneficial ownership of the shares reported on this Form 4 other than the shares directly owned by such person.