Brian P. Chang - Mar 23, 2025 Form 4 Insider Report for GAN Ltd (GAN)

Role
CFO
Signature
/s/ Jeffrey H. Kuras, Attorney-in-Fact
Stock symbol
GAN
Transactions as of
Mar 23, 2025
Transactions value $
-$23,254
Form type
4
Date filed
3/24/2025, 07:15 PM
Previous filing
Mar 12, 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 +16.5K +23.82% 85.8K Mar 23, 2025 Direct F1
transaction GAN Ordinary Shares Options Exercise +18.9K +22.05% 105K Mar 23, 2025 Direct F1
transaction GAN Ordinary Shares Tax liability -$23.3K -13.1K -12.47% $1.78 91.7K Mar 23, 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 -16.5K -33.33% $0.00 33K Mar 23, 2025 Ordinary Shares 16.5K Direct F1, F3
transaction GAN Restricted Stock Units Options Exercise $0 -18.9K -33.33% $0.00 37.9K Mar 23, 2025 Ordinary Shares 18.9K Direct F1, F4
* 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 23, 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 August 1, 2023 and settled as to one-fourth of the shares on each of March 23, 2024 and 2025. The remaining RSUs will vest as to 25% annually on each of March 23, 2026, and 2027, and will be 100% vested on March 23, 2027.
F4 The RSUs were originally granted on July 22, 2024, and settled as to 18,926 shares immediately upon granting, and 18,926 shares on March 23, 2025. 18,926 shares will vest on each of March 23, 2026, and 2027.