Francis Ruchalski - Sep 22, 2023 Form 3 Insider Report for GlassBridge Enterprises, Inc. (GLAE)

Role
Chief Financial Officer
Signature
/s/ Francis Ruchalski
Stock symbol
GLAE
Transactions as of
Sep 22, 2023
Transactions value $
$0
Form type
3
Date filed
3/7/2024, 04:52 PM

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
holding GLAE Restricted Stock Unit Sep 22, 2023 Common Stock 468 Direct F1, F2
holding GLAE Incentive Stock Option Sep 22, 2023 Common Stock 166 $10.00 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Restricted Stock Units (the "RSUs") shall vest in proportion to (i) the aggregate number of Series 1 RSUs and Series 2 RSUs (as each such term is defined in the Stock Purchase Agreement dated as of September 25, 2023 by and between GlassBridge Enterprises, Inc. (the "Company") and Tacora Capital, L.P. ("Tacora")) purchased by Tacora, divided by (ii) 75,000 (in all events without duplication), but in any event in equal quarterly installments over a 4-year period beginning on September 22, 2023.
F2 The RSUs may be settled solely in cash. The Awardee of each cash-settled RSU shall be entitled to receive an amount equal to the product of the excess of (i) the fair market value of one share of common stock of the Company as of the business day immediately preceding the date on which the cash-out notice is delivered to the Company minus (ii) $164.95.
F3 The shares underlying the Option shall vest over a four-year period in equal quarterly installments beginning on September 22, 2023, the grant date.