SEC Form 3
FORM 3 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
|
1. Name and Address of Reporting Person*
(Street)
| 2. Date of Event Requiring Statement (Month/Day/Year) 05/16/2019 | 3. Issuer Name and Ticker or Trading Symbol Global Eagle Entertainment Inc. [ ENT ] | |||||||||||||
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
| 5. If Amendment, Date of Original Filed (Month/Day/Year) | ||||||||||||||
6. Individual or Joint/Group Filing (Check Applicable Line)
|
Table I - Non-Derivative Securities Beneficially Owned | |||
---|---|---|---|
1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock(1) | 300,000 | D | |
Common Stock(2) | 150,000 | D |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
---|---|---|---|---|---|---|---|
1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Stock Option(3) | (4) | 06/24/2024 | Common Stock | 138,994 | 0.87 | D | |
Stock Option(3) | (5) | 06/24/2026 | Common Stock | 347,586 | 0.87 | D |
Explanation of Responses: |
1. These shares were granted as restricted stock units and will vest as follows; (i) 50% vesting on May 8, 2021, (ii) 25% vesting on May 8, 2022 and (iii) 25% vesting on May 8, 2023, subject to continuous employment on each applicable vesting date. |
2. These shares were granted as performance-based restricted stock units and will vest as follows; (i) 50% vesting on May 8, 2021, (ii) 25% vesting on May 8, 2022, and (iii) 25% vesting on May 8, 2023, subject to the reporting person's continuous employment through each applicable vesting date, and provided that the Issuer's volume-weighted average price per share of common stock equals or exceeds $4.00 for 45 consecutive trading days at any time on or prior to May 8, 2024. |
3. Each Stock Option represents the right of the reporting person to receive a cash payment on the date of exercise equal to the value of the closing price per share on the date of exercise less the exercise price. |
4. These Stock Options generally vest and become exercisable as follows: (i) 50% of the Stock Options will vest on May 8, 2021, (ii) 25% of the Stock Options will vest on May 8, 2022 and (iii) 25% of the Stock Options will vest on May 8, 2023, subject to the reporting person's continuous employment through each applicable vesting date, and provided that the Issuer's volume-weighted average price per share of common stock equals or exceeds $4.00 for 45 consecutive trading days at any time on or prior to May 8, 2024. |
5. These Stock Options generally vest and become exercisable as follows: (i) 50% of the Stock Options will vest on May 8, 2021 and (ii) 50% of the Stock Options will vest on May 8, 2022, subject to the reporting person's continuous employment through each applicable vesting date, and provided that the Issuer's volume-weighted average price per share of common stock equals or exceeds $8.00 for 45 consecutive trading days at any time on or prior to May 8, 2026. |
Remarks: |
See Exhibit 24.1 - Power of Attorney |
s/s Julia Waldron, Attorney-in-Fact | 05/28/2019 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |