Giuseppe Gardali - Mar 11, 2025 Form 4 Insider Report for GAN Ltd (GAN)

Role: President, B2B
Signature: /s/ Jeffrey H. Kuras, Attorney-in-Fact
Stock symbol: GAN
Transactions as of: Mar 11, 2025
Transactions value $: -$5,048
Form type: 4
Date filed: 3/12/2025, 04:33 PM
Previous filing: Jul 30, 2024
Next filing: Mar 24, 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GAN	Ordinary Shares	Options Exercise		+6.03K	+10.2%		65.2K	Mar 11, 2025	Direct	F1
transaction	GAN	Ordinary Shares	Tax liability	-$5.05K	-2.84K	-4.35%	$1.78	62.3K	Mar 11, 2025	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	GAN	Restricted Stock Units	Options Exercise	$0	-6.03K	-50%	$0.00	6.03K	Mar 11, 2025	Ordinary Shares	6.03K		Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The transaction relates to the settlement of RSUs into GAN Limited ordinary shares on March 11, 2025.
F2	Represents ordinary shares withheld by the Issuer as payment of tax withholdings due upon vesting of RSUs.
F3	The RSUs were originally granted on March 11, 2022 and settled as to one-fourth of the shares on March 11, 2023, 2024, and 2025. The remaining RSUs will vest on March 11, 2026.