David-Jacques Farahi - 02 Sep 2021 Form 4 Insider Report for MONARCH CASINO & RESORT INC (MCRI)

Role
COO
Signature
David Farahi
Issuer symbol
MCRI
Transactions as of
02 Sep 2021
Net transactions value
-$1,019,877
Form type
4
Filing time
07 Sep 2021, 19:35:37 UTC
Previous filing
01 Jul 2021
Next filing
03 Nov 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MCRI Common Stock Options Exercise +18,333 +116% 34,140 02 Sep 2021 Direct F1
transaction MCRI Common Stock Tax liability $1,019,877 -15,406 -45% $66.20 18,734 02 Sep 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 -18,333 -12% $0.000000 131,666 02 Sep 2021 Common Stock 18,333 Direct F1
transaction MCRI Options / Right to Buy Other $0 -31,666 -24% $0.000000 100,000 03 Sep 2021 Common Stock 31,666 Direct F2, F6
transaction MCRI Options / Right to Buy Other $0 -33,333 -33% $0.000000 66,667 03 Sep 2021 Common Stock 33,333 Direct F3, F6
transaction MCRI Options / Right to Buy Other $0 -33,333 -50% $0.000000 33,334 03 Sep 2021 Common Stock 33,333 Direct F4, F6
transaction MCRI Options / Right to Buy Other $0 -33,334 -100% $0.000000* 0 03 Sep 2021 Common Stock 33,334 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.