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4//SEC Filing

MOBERG RAY M 4

Accession 0001209191-09-045702

CIK 0001071255other

View on SEC.gov Company Profile

Filed

Sep 23, 8:00 PM ET

Accepted

Sep 24, 5:43 PM ET

Size

18.3 KB

Accession

0001209191-09-045702

Insider Transaction Report

Form 4

Period: 2009-09-22

LAKES ENTERTAINMENT INCLACO

Director

Transactions

Disposition to Issuer
Stock Options
2009-09-22−5,000→ 0 total
Exercise: $4.24Exp: 2018-03-13→ Common Stock, $.01 par value (5,000 underlying)
Award
Stock Options
2009-09-22+4,667→ 4,667 total
Exercise: $3.40Exp: 2019-09-22→ Common Stock, $.01 par value (4,667 underlying)
Disposition to Issuer
Stock Options
2009-09-22−60,000→ 0 total
Exercise: $6.65Exp: 2013-12-17→ Common Stock, $.01 par value (60,000 underlying)
Disposition to Issuer
Stock Options
2009-09-22−10,000→ 0 total
Exercise: $16.84Exp: 2015-02-15→ Common Stock, $.01 par value (10,000 underlying)
Award
Stock Options
2009-09-22+36,739→ 36,739 total
Exercise: $3.40Exp: 2019-09-22→ Common Stock, $.01 par value (36,739 underlying)
Award
Stock Options
2009-09-22+5,122→ 5,122 total
Exercise: $3.40Exp: 2019-09-22→ Common Stock, $.01 par value (5,122 underlying)

Footnotes (9)

[F1]Pursuant to Rule 16b-3 (right to buy).
[F2]Fully exercisable.
[F3]On September 22, 2009, the issuer canceled, pursuant to the issuer's option exchange program, an option for 60,000 shares of Lakes Entertainment, Inc. common stock granted to the reporting person on December 17, 2003. In exchange, the reporting person received a replacement option, for 36,739 shares, having an exercise price of $3.40 a share.
[F4]On September 22, 2009, the issuer canceled, pursuant to the issuer's option exchange program, an option for 10,000 shares of Lakes Entertainment, Inc. common stock granted to the reporting person on February 15, 2005. In exchange, the reporting person received a replacement option, for 5,122 shares, having an exercise price of $3.40 a share.
[F5]The option provided for vesting in equal installments of 1,250 shares each on 3/13/09, 3/13/10, 3/13/11 and 3/13/12.
[F6]On September 22, 2009, the issuer canceled, pursuant to the issuer's option exchange program, an option for 5,000 shares of Lakes Entertainment, Inc. common stock granted to the reporting person on March 13, 2008. In exchange, the reporting person received a replacement option, for 4,667 shares, having an exercise price of $3.40 a share.
[F7]The option vests in two equal annual installments beginning September 22, 2010.
[F8]The option vests in three equal annual installments beginning September 22, 2010.
[F9]The option vests in five equal annual installments beginning on September 22, 2010.

Documents

1 file

4
doc4.xmlPrimary
FORM 4 SUBMISSION

Issuer

LAKES ENTERTAINMENT INC

CIK 0001071255

Entity typeother

Related Parties

1

filerCIK 0001275112

Filing Metadata

Form type: 4
Filed: Sep 23, 8:00 PM ET
Accepted: Sep 24, 5:43 PM ET
Size: 18.3 KB

View on SEC.gov