Beeline Holdings, Inc. — Director's Dealing 2017

Jan 4, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Eastside Distilling, Inc. (ESDI)
CIK: 0001534708
Period of Report: 2016-12-29

Reporting Person: GLENBROOK CAPITAL LP (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-12-29	Common Stock	X	100000	$1.3	Acquired	1051246	Direct
2016-12-30	Common Stock	X	25000	$1.3	Acquired	1076246	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-12-29	Common Stock Purchase Warrants (right to buy)	$1.3	X	100000	Disposed	2019-06-27	Common Stock (100000)	Direct
2016-12-29	Common Stock Purchase Warrants (right to buy)	$2	J	25000	Acquired	2019-06-09	Common Stock (25000)	Direct
2016-12-30	Common Stock Purchase Warrants (right to buy)	$1.3	X	25000	Disposed	2019-06-09	Common Stock (25000)	Direct

Footnotes

F1: On November 25, 2016, the Issuer temporarily reduced the exercise price of its outstanding warrants from $2.00 ($0.10 prior to the October 18, 2016 reverse stock split) to $1.30, and the warrants were exercised at the reduced exercise price.

F2: The warrants contain a blocker that prohibits the holder from exercising the warrants if such exercise will result in beneficial ownership by the holder and its affiliates of more than 9.99% of the Issuer's outstanding shares. The blocker may only be amended by written consent of both the Issuer and the holder. Since the holder's beneficial ownership percentage is over 9.99%, the warrants are currently not exercisable, absent a waiver. The blocker was waived by mutual consent of the Issuer and the reporting person.

F3: The warrants were assigned to the reporting person and transferred for no consideration.