Weiting Feng - May 9, 2024 Form 4 Insider Report for Golden Matrix Group, Inc. (GMGI)

Role
Chief Operating Officer, Director
Signature
/s/ Weiting Feng
Stock symbol
GMGI
Transactions as of
May 9, 2024
Transactions value $
$0
Form type
4
Date filed
5/13/2024, 04:02 PM
Previous filing
May 8, 2024
Next filing
May 22, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding GMGI Common Stock 2.79M May 9, 2024 Direct

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 GMGI Restricted Stock Units Other $0 -125K -50% $0.00 125K May 9, 2024 Common Stock 125K Direct F1, F2, F3
transaction GMGI Restricted Stock Units Other $0 +125K $0.00 125K May 9, 2024 Common Stock 125K Direct F1, F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Effective on May 9, 2024, the Board of Directors approved an amendment to the terms of the restricted stock units (RSUs) previously granted to the Reporting Person to adjust such RSUs (discussed in footnote 3 below), from vesting, if at all, based on the financial results of the Issuer as of October 31, 2024, to be based on the Issuer's financial results for the year ended December 31, 2024 (discussed in footnote 4), as a result of the Issuer's recent change in fiscal year from October 31st to December 31st. All other terms of the RSUs remained the same.
F2 Each RSU represents the contingent right to receive, at settlement, one share of common stock.
F3 The RSUs vest, if at all, at the rate of 1/2 of such RSUs, upon the Issuer meeting certain (1) revenue and (2) Adjusted EBITDA targets, as of October 31, 2024, and upon the public disclosure of such operating results in the Issuer's subsequently filed Annual Report on Form 10-K, subject to the reporting person's continued service through the applicable vesting date. Restricted stock units do not expire; they either vest or are canceled prior to vesting date. Issued under the Issuer's 2022 Equity Incentive Plan.
F4 The RSUs vest, if at all, at the rate of 1/2 of such RSUs, upon the Issuer meeting certain (1) revenue and (2) Adjusted EBITDA targets, as of December 31, 2024, and upon the public disclosure of such operating results in the Issuer's subsequently filed Annual Report on Form 10-K, subject to the reporting person's continued service through the applicable vesting date. Restricted stock units do not expire; they either vest or are canceled prior to vesting date. Issued under the Issuer's 2022 Equity Incentive Plan.