May Kenneth A 4
4 · Drive Shack Inc. · Filed Nov 26, 2018
Insider Transaction Report
Form 4
May Kenneth A
DirectorCEO & President
Transactions
- Award
Stock Option (right to buy)
2018-11-12+3,351,355→ 3,351,355 totalExercise: $5.44→ Common Stock, par value $0.01 per share (3,351,355 underlying)
Footnotes (2)
- [F1]The options vest in three equal annual installments beginning on November 12, 2019, provided that Mr. May remains in continuous employment with the Company through the applicable vesting date.
- [F2]Once vested, the options may be exercised prior to the earliest to occur of: (a) November 12, 2028, (b) the first anniversary of the date of Mr. May's termination of employment by the Company without cause, by Mr. May for good reason, or due to his death or disability, (c) 90 days following the date of Mr. May's voluntary termination of employment, and (d) the close of business on the last business day immediately prior to the date of Mr. May's (i) termination of employment by the Company for cause or (ii) breach of any restrictive covenant set forth in any agreement or arrangement between Mr. May and the Company.