Sylvia Tiscareno - Apr 1, 2025 Form 4 Insider Report for GAN Ltd (GAN)

Role: Chief Legal Officer
Signature: /s/ Sylvia Tiscareno
Stock symbol: GAN
Transactions as of: Apr 1, 2025
Transactions value $: -$1,678
Form type: 4
Date filed: 4/2/2025, 04:10 PM
Previous filing: Mar 24, 2025
Next filing: May 27, 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		+3.89K	+1.9%		209K	Apr 1, 2025	Direct	F1
transaction	GAN	Ordinary Shares	Tax liability	-$1.68K	-948	-0.45%	$1.77	208K	Apr 1, 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	-3.89K	-50%	$0.00	3.89K	Apr 1, 2025	Ordinary Shares	3.89K		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 restricted stock units ("RSUs") into GAN Limited ordinary shares on April 1, 2025.
F2	Represents ordinary shares withheld by the Issuer as payment of tax withholdings due upon vesting of RSUs.
F3	The RSUs were issued as a replacement grant on April 30, 2023. 3,890 RSUs settled immediately on the date of grant, and 3,890 RSUs settled on each of April 1, 2024 and 2025. The remaining RSUs will vest on April 1, 2026.