David J. Steigelfest - Apr 30, 2023 Form 4 Insider Report for Super League Gaming, Inc. (SLGG)

Role
CHIEF PLATFORM OFFICER, Director
Signature
/s/ Clayton Haynes, Attorney-in-Fact
Stock symbol
SLGG
Transactions as of
Apr 30, 2023
Transactions value $
$0
Form type
4
Date filed
5/2/2023, 09:19 PM
Previous filing
Apr 19, 2023

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 SLGG Stock Option Disposed to Issuer -834 -100% 0 Apr 30, 2023 Common Stock 834 $9.00 Direct F1
transaction SLGG Stock Option Disposed to Issuer -96.7K -100% 0 Apr 30, 2023 Common Stock 96.7K $9.00 Direct F1
transaction SLGG Stock Option Disposed to Issuer -84K -100% 0 Apr 30, 2023 Common Stock 84K $2.88 Direct F1
transaction SLGG Stock Option Disposed to Issuer -29.8K -100% 0 Apr 30, 2023 Common Stock 29.8K $4.81 Direct F1
transaction SLGG Stock Option Award +400K 400K Apr 30, 2023 Common Stock 400K $0.49 Direct F1, F2, F3
transaction SLGG Performance Stock Units Disposed to Issuer -150K -100% 0 Apr 30, 2023 Common Stock 150K Direct F4, F5, F6
transaction SLGG Performance Stock Units Award +150K 150K Apr 30, 2023 Common Stock 150K Direct F4, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On April 30, 2023, the Issuer cancelled certain stock options previously granted to the Reporting Person under the Issuer's 2014 Amended and Restated Employee Stock Option and Incentive Plan (the "2014 Plan"). In exchange for the cancelled options, the Reporting Person was granted options to purchase 400,000 shares of the Issuer's common stock under the 2014 Plan.
F2 One-third of the stock options vest on the grant date, with the remainder vesting monthly over the thirty-six month period thereafter, subject to continued service.
F3 The exercise of the options under this award are contingent upon the Company receiving approval from its stockholders to increase the number of shares available under the 2014 Plan, and will be subject to cancellation in the event stockholder approval is not obtained.
F4 Each Performance Stock Unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock upon vesting.
F5 The PSUs were scheduled to vest: (i) 20% upon the Issuer's common stock achieving a 60-day volume-weighted average price ("60-day VWAP") of $4.75 per share, (ii) 20% upon the Issuer's common stock achieving a 60-day VWAP of $6.00 per share; (iii) 20% upon the Issuer's common stock achieving a 60-day VWAP of $7.00 per share; (iv) 20% upon the Issuer's common stock achieving a 60-day VWAP of $8.00 per share; and (v) 20% upon the Issuer's common stock achieving a 60-day VWAP of $9.00 per share.
F6 On April 30, 2023, the Issuer cancelled certain PSUs previously granted to the Reporting Person under the 2014 Plan. In exchange for the cancelled PSU's, the Reporting Person was granted 150,000 PSUs under the 2014 Plan.
F7 Subject to continued employment and to accelerated vesting in certain circumstances, the PSUs shall vest: (i) 20% upon the Issuer's common stock achieving a 60-day VWAP of $0.80 per share, (ii) 20% upon the Issuer's common stock achieving a 60-day VWAP of $1.00 per share; (iii) 20% upon the Issuer's common stock achieving a 60-day VWAP of $1.20 per share; (iv) 20% upon the Issuer's common stock achieving a 60-day VWAP of $1.40 per share; and (v) 20% upon the Issuer's common stock achieving a 60-day VWAP of $1.60 per share.