Form 4: Former 10% Owner Albert Rabil's Turtle Beach Call Option Expires Worthless

Albert Rabil, former 10% owner of Turtle Beach Corp, reported the expiration of a call option position, resulting in no shares or compensation and reducing his ownership below 10%.

Summary

• Albert Rabil, identified as a former 10% owner of Turtle Beach Corp (TBCH), filed a Form 4.
• A call option position on TBCH stock, with a strike price of $15.00 and an expiration date of July 18, 2025, expired worthless.
• As a result of the option expiring worthless, Mr. Rabil did not receive any shares or compensation.
• Following this expiration, Mr. Rabil's beneficial ownership in TBCH is now below 10%.
• Mr. Rabil directly owns 1,890,900 shares of Common Stock.
• Albert Rabil is the Chief Executive Officer of Kayne Anderson Capital Advisors, L.P., which disclaims beneficial ownership of the reported shares with respect to Mr. Rabil in that capacity.

Sentiment

Score: 4

Explanation: The expiration of a call option worthless suggests the stock price did not perform as anticipated by the option holder, and the reporting person's ownership dropping below 10% due to this event could be perceived as a minor negative signal.

Negatives

• A call option with a strike price of $15.00 expired worthless, indicating that Turtle Beach Corp's stock price did not reach or exceed this value by the expiration date.
• The reporting person's beneficial ownership in Turtle Beach Corp dropped below 10% due to the option expiration.

Future Outlook

NA

Management Comments

• Albert Rabil is the Chief Executive Officer of Kayne Anderson Capital Advisors, L.P. Kayne Anderson Capital Advisors, L.P. disclaims beneficial ownership of the shares reported with respect to Mr. Rabil as Chief Executive Officer of Kayne Anderson Capital Advisors, L.P.
• The call option position previously held by Albert Rabil, TBCH at 15.000 EXP 07/18/2025, expired worthless. Mr. Rabil did not receive any shares or compensation as a result of this option position expiring. Mr. Rabil's TBCH ownership subsequent to the expiration of this option position is below 10%.

Industry Context

NA

Stakeholder Impact

• Shareholders: The expiration of a call option worthless by a former significant holder might be interpreted as a minor negative signal regarding the stock's performance relative to the option's strike price.

Key Dates

Keywords

SEC Form 4, Turtle Beach Corp, TBCH, Albert Rabil, Beneficial Ownership, Call Option, Option Expiration, Insider Trading, 10% Owner, Kayne Anderson Capital Advisors