07/19/2013
In a 13G filing today, with the Securities And Exchange Commission, DRS Entertainment Group has exercised 100,000 stock options granted to them, by Lions Gate Entertainment, into 100,000 shares of common stock.
In an agreement dated, August 4, 2011, DRS Entertainment Group was issued 100,000 stock options to purchase Lions Gate Entertainment stock at $7.00/share, in return for a $700,000 loan to help finance a film project. The options were convertible on a 1 for 1 basis.
In todays trading, Lions Gate Entertainment was trading at $32.05/share.
Lions Gate Entertainment, based in Santa Monica California, is a motion picture and television production company.