David-Jacques Farahi - Sep 2, 2021 Form 4 Insider Report for MONARCH CASINO & RESORT INC (MCRI)

Role: COO
Signature: David Farahi
Stock symbol: MCRI
Transactions as of: Sep 2, 2021
Transactions value $: -$1,019,877
Form type: 4
Date filed: 9/7/2021, 07:35 PM
Previous filing: Jul 1, 2021
Next filing: Nov 3, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MCRI	Common Stock	Options Exercise		+18.3K	+115.98%		34.1K	Sep 2, 2021	Direct	F1
transaction	MCRI	Common Stock	Tax liability	-$1.02M	-15.4K	-45.13%	$66.20	18.7K	Sep 2, 2021	Direct

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	MCRI	Options / Right to Buy	Options Exercise	$0	-18.3K	-12.22%	$0.00	132K	Sep 2, 2021	Common Stock	18.3K		Direct	F1
transaction	MCRI	Options / Right to Buy	Other	$0	-31.7K	-24.05%	$0.00	100K	Sep 3, 2021	Common Stock	31.7K		Direct	F2, F6
transaction	MCRI	Options / Right to Buy	Other	$0	-33.3K	-33.33%	$0.00	66.7K	Sep 3, 2021	Common Stock	33.3K		Direct	F3, F6
transaction	MCRI	Options / Right to Buy	Other	$0	-33.3K	-50%	$0.00	33.3K	Sep 3, 2021	Common Stock	33.3K		Direct	F4, F6
transaction	MCRI	Options / Right to Buy	Other	$0	-33.3K	-100%	$0.00^*	0	Sep 3, 2021	Common Stock	33.3K		Direct	F5, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Mr. Farahi net exercised the following grands: (1) 6,667 stock options at $47.81 exercise price, which vested on August 1, 2021; and (2) 11,666 stock options at $47.05 exercise price, which vested on September 1, 2021. All stock options expire 10 years from the grant date, or approximately 7 years from the vesting date.
F2	In 2021 Mr. Farahi was granted 31,666 stock options, as follow: (i) 15,000 stock options at $60.62 exercise price, which vest on March 31,2024; and (ii) 16,666 stock options at $66.17 exercise price, which vest on June 30, 2024. All stock options expire 10 years from the grant date, or approximately 7 years from the vesting date.
F3	In 2020 Mr. Farahi was granted 33,333 stock options, as follow: (i) 13,333 stock options at $53.680 exercise price, which vest on February 1, 2023; (ii) 1,667 stock options at $47.28 exercise price, which vest on March 1, 2023; and (iii) 18,333 stock options at $44.60 exercise price, which vest on September 30, 2023. All stock options expire 10 years from the grant date, or approximately 7 years from the vesting date.
F4	In 2019 Mr. Farahi was granted 33,333 stock options, as follow: (i) 13,334 stock options at $43.30 exercise price, which vest on February 1, 2022; (ii) 1,666 stock options at $44.31 exercise price, which vest on March 1, 2022; (iii) 6,666 stock options at $45.69 exercise price, which vest on August 1, 2022 and (v) 11,667 stock options at $44.38 exercise price, which vest on September 1, 2022. All stock options expire 10 years from the grant date, or approximately 7 years from the vesting date.
F5	On May 3, 2018 Mr. Farahi was granted 50,000 stock options at $42.74 exercise price, of which 16,666 vested on May 3, 2021, 16,667 vest on May 3, 2022 and 16,667 vest on May 3, 2023. All stock options expire 10 years from the grant date, or approximately 7 years from the vesting date.
F6	These options are forfeited. On September 3, 2021 Mr. Farahi resigned from his role as a Chief Operating Officer, to pursue business interests outside the gaming and hospitality industry. Pursuant to Company's 2014 Equity Incentive Plan ("2014 Plan") option awards that are not vested and therefore not exercisable at the date of grantee's employment termination are forfeited and are returned to the 2014 Plan.