Dermot S. Smurfit - Aug 31, 2022 Form 4 Insider Report for GAN Ltd (GAN)

Role: President, CEO, Director
Signature: /s/ Karen Flores, Attorney-in-Fact
Stock symbol: GAN
Transactions as of: Aug 31, 2022
Transactions value $: -$57,688
Form type: 4
Date filed: 9/1/2022, 06:25 PM
Previous filing: Aug 31, 2022
Next filing: Apr 10, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GAN	Ordinary Shares	Options Exercise		+63K	+3.7%		1.76M	Aug 31, 2022	Direct	F1
transaction	GAN	Ordinary Shares	Tax liability	-$57.7K	-21.8K	-1.24%	$2.65	1.74M	Aug 31, 2022	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	-63K	-100%	$0.00^*	0	Aug 31, 2022	Ordinary Shares	63K		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 62,950 RSU's into 62,950 GAN Limited ordinary shares on August 31, 2022.
F2	Represents ordinary shares withheld by the Issuer as payment of tax withholdings due upon vesting of RSUs.
F3	The RSU's were originally granted on November 27, 2021 and vested in full on August 31, 2022.