Richard Chester Wright - 30 Jun 2021 Form 4 Insider Report for Ensysce Biosciences, Inc. (ENSC)

Role: Chief Business Officer
Signature: /s/ Richard Wright
Issuer symbol: ENSC
Transactions as of: 30 Jun 2021
Net transactions value: $0
Form type: 4
Filing time: 02 Jul 2021, 18:08:38 UTC
SEC: View on sec.gov

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

Type	Sym	Class	Transaction	Shares	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ENSC	Stock Option	Award	+49,975	49,975	30 Jun 2021	Common Stock	49,975	$3.21	Direct	F1
transaction	ENSC	Stock Option	Award	+65,850	65,850	30 Jun 2021	Common Stock	65,850	$1.83	Direct	F1
transaction	ENSC	Stock Option	Award	+263,400	263,400	30 Jun 2021	Common Stock	263,400	$1.83	Direct	F1
transaction	ENSC	Stock Option	Award	+19,755	19,755	30 Jun 2021	Common Stock	19,755	$2.59	Direct	F1
transaction	ENSC	Stock Option	Award	+987,750	987,750	30 Jun 2021	Common Stock	987,750	$2.59	Direct	F1

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

Explanation of Responses:

Id	Content
F1	On June 30, 2021, pursuant to that certain Agreement and Plan of Merger dated January 31, 2021 (the "Merger Agreement") among Ensysce Biosciences, Inc. (f/k/a Leisure Acquisition Corp.) (the "Issuer"), EB Merger Sub, Inc., a Delaware corporation and wholly-owned, direct subsidiary of the Issuer ("Merger Sub"), and Ensysce Biosciences, Inc., a Delaware corporation ("Ensysce"), Merger Sub merged with and into Ensysce (the "Merger"), with Ensysce surviving as a wholly owned subsidiary of the Issuer. Pursuant to the Merger Agreement, each option and warrant of Ensysce that was outstanding and unexercised immediately prior to the Effective Time was assumed by the Issuer (each, a "Derivative Security") and represents the right to acquire an adjusted number of shares of Common Stock at an adjusted exercise price, in each case, pursuant to the terms of the Merger Agreement.

Content

On June 30, 2021, pursuant to that certain Agreement and Plan of Merger dated January 31, 2021 (the "Merger Agreement") among Ensysce Biosciences, Inc. (f/k/a Leisure Acquisition Corp.) (the "Issuer"), EB Merger Sub, Inc., a Delaware corporation and wholly-owned, direct subsidiary of the Issuer ("Merger Sub"), and Ensysce Biosciences, Inc., a Delaware corporation ("Ensysce"), Merger Sub merged with and into Ensysce (the "Merger"), with Ensysce surviving as a wholly owned subsidiary of the Issuer. Pursuant to the Merger Agreement, each option and warrant of Ensysce that was outstanding and unexercised immediately prior to the Effective Time was assumed by the Issuer (each, a "Derivative Security") and represents the right to acquire an adjusted number of shares of Common Stock at an adjusted exercise price, in each case, pursuant to the terms of the Merger Agreement.