||represents a grant of 9,337 restricted stock units ("rsus") that will vest on the earlier to occur of (1) the one year anniversary of the date of the grant and (2) the election of directors at the first annual meeting of the issuer's stockholders occurring after the date of the grant, with vesting accelerated in the event of death or disability or termination of service in connection with a change in control. each rsu represents the right to receive one share of the issuer's common stock upon vesting.
||mr. hirsch served as a consultant to trinity real estate investments llc ("trinity investments") from january 2019 until november 2019 pursuant to a consulting agreement. mr. hirsch's consulting agreement provides for a success fee payable by trinity investments to mr. hirsch in connection with the completion of the issuer's business combination on november 14, 2019, pursuant to which mr. hirsch will receive 137,305 shares of the issuer's common stock (the "common stock") and 259 warrants to acquire one share of common stock (the "warrants") issued by the issuer held by hn investors llc and expected to be transferred to trinity investments following the expiration of the lock-up agreement to which hn investors llc is a party.
||these shares of common stock and the warrants are expected to represent, in the aggregate, a less than 1% beneficial ownership interest by mr. hirsch in the issuer. instead of transferring these securities to mr. hirsch, trinity investments may, at its election, pay the success fee in cash in an amount equal to the value of these securities.