A Lorne Weil, a major owner of Hydra Industries Acquisition Corp. and Hydra Industries Acquisition Corp.'s Executive Chairman and a director of the company, recently acquired 940,583 shares of the company. The buys took place at $0.00 per share (and therefore, likely the result of option or restricted share grants), on January 03, 2017. Weil now owns 1,416,891 shares of the company. Weil operates out of New York, NY. Some additional info was provided as follows:
Grant of restricted stock pursuant to the Inspired Entertainment, Inc. 2016 Long-Term Incentive Plan.
The shares of restricted stock vest in three equal installments:
Installment 1 -- On the later of (i) December 23, 2017 and (ii) the day following the first period of thirty (30) consecutive trading days dur
ing which the average of the closing prices for the Common Stock is $12.50 or higher.
Installment 2 -- On the later of (i) December 23, 2018 and (ii) the day following the first period of thirty (30) consecutive trading days during which the average of the closing prices for the Common Stock is $15.00 or higher.
Installment 3 -- On the later of (i) December 23, 2019 and (ii) the day following the first period of thirty (30) consecutive trading days during which the average of the closing prices for the Common Stock is $17.50 or higher.
Represents 476,308 shares of Common Stock held by Hydra Industries Sponsor LLC (the "Sponsor") and beneficially owned by A. Lorne Weil, who has sole voting and dispositive power over the shares held by the Sponsor. Mr. Weil, B. Luke Weil, a son of Mr. Weil, and trusts owned by Mr. Weil's children, B. Luke Weil, Nicholas Weil, Francesca Weil, and Alexander Weil, own all of the membership interests in the Sponsor. Mr. Weil may be deemed the beneficial owner of the securities held by the Sponsor and has sole voting and dispositive control over such securities. Mr. Weil disclaims beneficial ownership over any securities owned by the Sponsor in which he does not have any pecuniary interest.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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