Sec Form 4 Filing - SANFILIPPO ANTHONY MICHAEL @ Gold Merger Sub, LLC - 2016-04-28

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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
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
SANFILIPPO ANTHONY MICHAEL
2. Issuer Name and Ticker or Trading Symbol
Gold Merger Sub, LLC [ PNK]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Chief Executive Officer
(Last) (First) (Middle)
C/O PINNACLE ENTERTAINMENT, INC., 3980 HOWARD HUGHES PARKWAY
3. Date of Earliest Transaction (MM/DD/YY)
04/28/2016
(Street)
LAS VEGAS, NV89169
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 04/28/2016 A( 1 )( 2 ) 105,504 ( 3 ) A 105,504 D
Common Stock 04/28/2016 D( 4 ) 328,514 ( 5 ) D 0 D
Common Stock 04/28/2016 D( 6 ) 486,214 ( 6 ) D 0 I By Sanfilippo Family Trust
Common Stock 04/28/2016 D( 6 ) 200,000 ( 6 ) D 0 I By Grantor Retained Annuity Trust
Common Stock 04/28/2016 D( 6 ) 1,500 ( 6 ) D 0 I By Daughter
Common Stock 04/28/2016 D( 6 ) 1,500 ( 6 ) D 0 I By Daughter
Common Stock 04/28/2016 D( 6 ) 1,503 ( 6 ) D 0 I By 401(k) Plan
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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
Stock Options (Right to Buy) $ 2.56 04/28/2016 D( 4 ) 650,000 ( 8 ) 03/14/2020 Common Stock 650,000 ( 14 ) ( 15 ) 0 D
Stock Options (Right to Buy) $ 2.86 04/28/2016 D( 4 ) 200,000 ( 9 ) 05/22/2019 Common Stock 200,000 ( 14 ) ( 15 ) 0 D
Stock Options (Right to Buy) $ 6.19 04/28/2016 D( 4 ) 105,366 ( 10 ) 05/21/2020 Common Stock 105,366 ( 14 ) ( 15 ) 0 D
Stock Options (Right to Buy) $ 6.97 04/28/2016 D( 4 ) 110,760 ( 11 ) 05/20/2021 Common Stock 110,760 ( 14 ) ( 15 ) 0 D
Stock Options (Right to Buy) $ 6.98 04/28/2016 D( 4 ) 50,000 ( 12 ) 08/18/2024 Common Stock 50,000 ( 14 ) ( 15 ) 0 D
Stock Options (Right to Buy) $ 10.55 04/28/2016 D( 4 ) 46,200 ( 13 ) 10/05/2022 Common Stock 46,200 ( 14 ) ( 15 ) 0 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
SANFILIPPO ANTHONY MICHAEL
C/O PINNACLE ENTERTAINMENT, INC.
3980 HOWARD HUGHES PARKWAY
LAS VEGAS, NV89169
X Chief Executive Officer
Signatures
/s/ Elliot D. Hoops, Attorney-In-Fact for Anthony M. Sanfilippo 04/29/2016
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Acquired pursuant to the Agreement and Plan of Merger, dated as of July 20, 2015 (the "Merger Agreement"), by and among the Pinnacle Entertainment, Inc. (the "Issuer"), Gaming and Leisure Properties, Inc., a Pennsylvania corporation ("Parent"), and Gold Merger Sub, LLC, a Delaware limited liability company and a wholly owned subsidiary of Parent ("Merger Sub"), providing for the merger of Merger Sub with and into the Issuer (the "Merger"), with Merger Sub surviving the Merger as a wholly owned subsidiary of Parent. In connection with the Merger, the Issuer separted its operating assets (and certain real estate assets) and liabilities into a newly formed subsidiary PNK Entertainment, Inc.
( 2 )(Continued from footnote 1) (which at closing changed its named to Pinnacle Entertainment, Inc.) ("OpCo") and, immediately prior to the closing of the Merger, the Company distributed to its stockholders, on a pro rata basis, all of the issued and outstanding shares of common stock of OpCo (such distribution referred to as the "Spin-Off").
( 3 )Includes 105,504 shares of Issuer common stock in respect of performance share units ("PSUs"). At the time of the Spin-Off, each PSU granted on or prior to July 16, 2015 (105,504) was cancelled and converted pursuant to the Employee Matters Agreement, dated as of April 28, 2016, by and between the Issuer and OpCo (the "Employee Matters Agreement") and the Merger Agreement into one OpCo PSU and 0.85 shares of Parent common stock (rounded down to the nearest whole share). The market value of a share of OpCo common stock is $11.51 per share, based on the trading price of OpCo common stock as of end of trading on April 27, 2016.The market value of a share of Parent common stock is $32.34 per share, based on the trading price of Parent common stock as of end of trading on April 27, 2016.
( 4 )Disposed of pursuant to the Merger Agreement and/or the Employee Matters Agreement.
( 5 )Includes 182,910 restricted stock units ("RSUs"), 40,100 shares of Issuer Common Stock and 105,504 shares of Issuer common stock acquired in respect of the PSUs disclosed in footnote 2 above. Each RSU represents a contingent right to acquire one share of Issuer common stock based on the achievement of vesting conditions.
( 6 )Disposed of pursuant to the Merger Agreement, whereby at the effective time of the Merger (the "Effective Time") each share of Issuer common stock was cancelled and converted into the right to receive 0.85 shares of Parent common stock. The market value of a share of Parent common stock is $32.34 per share, based on the trading price of Parent common stock as of end of trading on April 27, 2016.
( 7 )At the time of the Spin-Off, each RSU granted after July 16, 2015 (193,462), was converted (and the number of RSU was adjusted pursuant to the Employee Matters Agreement) into an adjusted OpCo RSU on the same terms and conditions that were applicable to such RSUs prior to the Spin-Off. Each RSU granted on or prior to July 16, 2015 (31,100) was cancelled and converted pursuant to the Employee Matters Agreement and the Merger Agreement into one OpCo RSU and 0.85 shares of Parent common stock (rounded to the nearest whole share). The market value of a share of OpCo common stock is $11.51 per share, based on the trading price of OpCo common stock as of end of trading on April 27, 2016. The market value of a share of Parent common stock is $32.34 per share, based on the trading price of Parent common stock as of end of trading on April 27, 2016.
( 8 )Includes options for 650,000 shares of Issuer common stock that were vested prior to the Effective Time.
( 9 )Includes options for 150,000 shares of Issuer common stock that were vested prior to the Effective Time and options for 50,000 shares of Issuer common stock that were unvested immediately prior to the Effective Time. The options vest in four annual installments commencing on the first anniversary of the date of grant.
( 10 )Includes options for 52,683 shares of Issuer common stock that were vested prior to the Effective Time and options for 52,683 shares of Issuer common stock that were unvested immediately prior to the Effective Time. The options vest in four annual installments commencing on the first anniversary of the date of grant.
( 11 )Includes options for 27,690 shares of Issuer common stock that were vested prior to the Effective Time and options for 83,070 shares of Issuer common stock that were unvested immediately prior to the Effective Time. The options vest in four annual installments commencing on the first anniversary of the date of grant.
( 12 )Includes options for 50,000 shares of Issuer common stock that were unvested immediately prior to the Effective Time. The options vest in two equal installments on August 18, 2018 and August 2019.
( 13 )Includes options for 46,200 shares of Issuer common stock that were unvested immediately prior to the Effective Time. The options vest in four annual installments commencing on the first anniversary of the date of grant.
( 14 )At the time of the Spin-Off, each option granted after July 16, 2015 (46,200), was converted (and the number of was adjusted adjusted pursuant to the Employee Matters Agreement) into an adjusted OpCo option, on the same terms and conditions that were applicable to such options prior to the Spin-Off. Each option granted on or prior to July 16, 2015 (1,116,126) was cancelled and converted pursuant to the Employee Matters Agreement and the Merger Agreement into one OpCo option and a number of shares of Parent common stock (rounded down to the nearest whole share) equal to difference between $27.24 and the exercise price of the applicable option.
( 15 )(Continued from footnote 14) The market value of a share of OpCo common stock is $11.51 per share, based on the trading price of OpCo common stock as of end of trading on April 27, 2016. The market value of a share of Parent common stock is $32.34 per share, based on the trading price of Parent common stock as of end of trading on April 27, 2016. The exercise price of the Issuer options were equitably adjusted under the terms of the Employee Matters Agreement to account for the Spin-Off.

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