Form 4: Bally's Corp: Standard General and Soohyung Kim Report Beneficial Ownership Changes

Standard General L.P. and Soohyung Kim report changes in beneficial ownership of Bally's Corp stock, including the acquisition of restricted stock.

Summary

• On April 18, 2024, Standard General L.P. and Soohyung Kim reported changes in their beneficial ownership of Bally's Corp [BALY] stock.
• Standard General L.P., as investment manager to private investment vehicles, beneficially owns 10,589,849 shares of common stock.
• Soohyung Kim, a director of Bally's and Chief Investment Officer of Standard General, may be deemed to indirectly beneficially own these shares.
• Kim also received a grant of 3,571 shares of restricted stock under Bally's 2021 Equity Incentive Plan, subject to a one-year holding period.
• Both Kim and Standard General disclaim beneficial ownership of the shares except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports changes in stock ownership.

Positives

• The grant of restricted stock to a director aligns their interests with the company's performance.
• The filing indicates that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership, which is common for individuals and entities holding significant positions in publicly traded companies. It doesn't necessarily indicate a change in the company's fundamentals or outlook.

Stakeholder Impact

• The change in beneficial ownership may be of interest to shareholders, but the impact is likely minimal as it primarily reflects internal transfers and grants.

Key Dates