Statement of Changes in Beneficial Ownership (4)
May 19 2020 - 2:40PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
BERMAN LYLE |
2. Issuer Name and Ticker or Trading Symbol
Allied Esports Entertainment, Inc.
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AESE
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
Chairman |
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(Last)
(First)
(Middle)
130 CHESHIRE LANE, SUITE 101 |
3. Date of Earliest Transaction
(MM/DD/YYYY)
2/25/2020 |
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(Street)
MINNETONKA, MN 55305
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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| Common Stock | 5/15/2020 | | J(1)(4) | | 1018848 | A | $1.963 | 1478182 (2) | D (3) | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code
(Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) | 8. Price of Derivative Security
(Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
| Put Option (obligation to purchase) | $1.963 | 2/25/2020 | | J (1) | | 1018848 | | 2/25/2020 | 5/15/2020 | Common Stock | 1018848 | (1) | 1018848 | D | |
| Put Option (obligation to purchase) | $1.963 | 5/15/2020 | | J (4) | | | 1018848 | 2/25/2020 | 5/15/2020 | Common Stock | 1018848 | (1) | 0 | D | |
| Explanation of Responses: |
| (1) | On February 25, 2020, the Issuer entered into a Put Option Agreement (the "Put Option") with the reporting person, whereby the Company had the right to sell to the reporting person common stock with an aggregate value of up to $2,000,000 at $1.963 per share through April 9, 2020. On April 7, 2020, the parties amended the Put Option to extend the purchase date through May 15, 2020. |
| (2) | 3,534 shares of which were issued to the reporting person pursuant to a restricted stock grant. Restrictions lapse on 9/20/2020. |
| (3) | All shares held by the Reporting Person's Revocable Trust. |
| (4) | On May 15, 2020, the Company sold the shares to the Reporting Person upon the exercise of the Put Option. |
Remarks:
Exhibit 24.1 Power of Attorney filed On September 24, 2019 and incorporated herein by reference |
Reporting Owners
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| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
BERMAN LYLE
130 CHESHIRE LANE, SUITE 101
MINNETONKA, MN 55305 | X |
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| Chairman |
Signatures
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| /s/ Allison Hushek, as attorney-in-fact for Lyle Berman | | 5/19/2020 |
| **Signature of Reporting Person | Date |
Allied Esports Entertain... (PK) (USOTC:AESEW)
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