Lynn Kirkpatrick - 30 Jun 2021 Form 4 Insider Report for Ensysce Biosciences, Inc. (ENSC)

Role: Chief Executive Officer, Director
Signature: /s/ Lynn Kirkpatrick
Issuer symbol: ENSC
Transactions as of: 30 Jun 2021
Net transactions value: $0
Form type: 4
Filing time: 02 Jul 2021, 18:11:57 UTC
Next filing: 24 Feb 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ENSC	Common Stock	Award		+284,851			284,851	30 Jun 2021	Direct	F1

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	+99,950	99,950	30 Jun 2021	Common Stock	99,950	$3.21	Direct	F2
transaction	ENSC	Stock Option	Award	+9,994	9,994	30 Jun 2021	Common Stock	9,994	$3.21	Direct	F2
transaction	ENSC	Stock Option	Award	+263,400	263,400	30 Jun 2021	Common Stock	263,400	$3.19	Direct	F2
transaction	ENSC	Stock Option	Award	+460,950	460,950	30 Jun 2021	Common Stock	460,950	$1.83	Direct	F2
transaction	ENSC	Stock Option	Award	+817,560	817,560	30 Jun 2021	Common Stock	817,560	$1.68	Direct	F2
transaction	ENSC	Stock Option	Award	+658,500	658,500	30 Jun 2021	Common Stock	658,500	$2.59	Direct	F2
transaction	ENSC	Stock Option	Award	+6,585	6,585	30 Jun 2021	Common Stock	6,585	$2.59	Direct	F2

* 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, at the effective time of the Merger (the "Effective Time"), each share of Ensysce common stock was automatically converted into the right to receive a pro rata portion of 17,334,518 shares of the Issuer's common stock.
F2	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, at the effective time of the Merger (the "Effective Time"), each share of Ensysce common stock was automatically converted into the right to receive a pro rata portion of 17,334,518 shares of the Issuer's common stock.

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.