SMITH O BRUTON 4
4 · SPEEDWAY MOTORSPORTS LLC · Filed Sep 19, 2019
Insider Transaction Report
Form 4
SMITH O BRUTON
DirectorChairman & CEO10% Owner
Transactions
- Disposition to Issuer
Common Stock
2019-09-17$19.75/sh−11,376$224,676→ 0 total - Disposition to Issuer
Common Stock
2019-09-17−29,000,000→ 0 total(indirect: See Footnote 2.) - Purchase
Common Stock
2019-09-17+5,300,000→ 29,000,000 total(indirect: See Footnote 1.) - Sale
Common Stock
2019-09-17−5,300,000→ 0 total(indirect: See Footnote 1.)
Footnotes (2)
- [F1]The reported securities were held by OBS Holdings, LLC ("Holdings"), a North Carolina limited liability company of which Mr. Smith was a member and manager. Mr. Smith contributed all of his interest in Holdings to Sonic Financial Corporation ("SFC"), a North Carolina corporation of which Mr. Smith is a stockholder, officer and director, for additional shares of SFC. Accordingly, Mr. Smith may be deemed the indirect beneficial owner of the reported securities owned by either SFC or Holdings. Subsequently, Holdings merged with and into SFC. No consideration was payable to Mr. Smith upon consummation of the merger of Holdings with and into SFC. Mr. Smith disclaims beneficial ownership of the Speedway Motorsports, Inc. common stock held by Holdings, except to the extent of his pecuniary interest therein.
- [F2]The reported securities were held by SFC and were cancelled for no consideration upon the consummation of the merger of a wholly-owned subsidiary of SFC with and into Speedway Motorsports, Inc. Mr. Smith disclaims beneficial ownership of the Speedway Motorsports, Inc. common stock held by SFC, except to the extent of his pecuniary interest therein.