Genius Sports discloses director share purchase
Five board members buy total of 282,480 shares.
Genius Sports Limited on Tuesday announced the purchase of common stock on the open market by individual members of the company’s board of directors.
The company, which describes itself as the official data, technology and commercial partner that powers the ecosystem connecting sports, betting and media, noted as a foreign private issuer, it is not required to file beneficial ownership reports with the US Securities and Exchange Commission, but the management team chose to make the disclosure on a voluntary basis.
“The decision to make this trading announcement does not imply that Genius Sports will make similar disclosures in the future,” the company said in a statement.
The stock purchase was made on November 29, Genius Sports reported.
Independent directors Harry You and Niccolo de Masi made the two largest purchases, in the amount of 100,000 shares each. Genius Sports noted de Masi made the stock buy while acting as a beneficial owner of Isalea Investments LP.
Mark Locke, who serves as both CEO of Genius Sports and its executive director, purchased 50,000 shares.
Chairman of the board and independent director David Levy bought 25,000 shares.
Director Daniel Burns, who was acting as beneficial owner of Carbon Group Ltd, picked up 7,480 shares of GENI, the company’s ticker symbol on the NYSE.
Genius Sports is a global provider of digital sports content, technology and integrity services. The company says its technology is used in more than 150 countries worldwide, empowering sports to capture, manage and distribute their live data and video, driving their digital transformation and enhancing their relationships with fans.
The company has partnerships with more than 400 sports organizations globally, including many of the world’s largest leagues and federations such as the NFL, EPL, FIBA, NCAA, NASCAR, AFA and the PGA Tour.
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