Alex Spiro - Sep 22, 2023 Form 4 Insider Report for GlassBridge Enterprises, Inc. (GLAE)

Role
Director
Signature
/s/ Alex Spiro
Stock symbol
GLAE
Transactions as of
Sep 22, 2023
Transactions value $
$0
Form type
4
Date filed
3/7/2024, 04:54 PM
Previous filing
Jun 2, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GLAE Restricted Stock Unit Award $0 +3.04K $0.00 3.04K Sep 22, 2023 Common Stock 3.04K Direct F1, F2
transaction GLAE Non-qualified Stock Option Award $0 +1.08K $0.00 1.08K Sep 22, 2023 Common Stock 1.08K $10.00 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The restricted stock unit ("RSUs") may be settled solely in cash. The Awardee of each cash-settled RSU shall be entitled to receive an amount equal to the product of the excess of (i) the fair market value of one share of common stock of GlassBridge Enterprises, Inc. (the "Company") as of the business day immediately preceding the date on which the cash-out notice is delivered to the Company minus (ii) $164.95.
F2 The RSUs shall vest in proportion to (i) the aggregate number of Series 1 RSUs and Series 2 RSUs (as each such term is defined in the Stock Purchase Agreement dated as of September 25, 2023 by and between the Company and Tacora Capital, L.P. ("Tacora")) purchased by Tacora, divided by (ii) 75,000 (in all events without duplication), but in any event in equal quarterly installments over a 4-year period beginning on September 22, 2023.
F3 The shares underlying the Option shall vest over a six-year period in equal quarterly installments beginning on September 22, 2023.