Donald Richard Ryan - 31 Aug 2022 Form 4 Insider Report for GAN Ltd (GAN)

Role: President Enterprise Solutions
Signature: /s/ Donald Richard Ryan
Issuer symbol: GAN
Transactions as of: 31 Aug 2022
Net transactions value: -$38,094
Form type: 4
Filing time: 01 Sep 2022, 18:28:23 UTC
Previous filing: 21 Mar 2022
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		+41,970			41,970	31 Aug 2022	Direct	F1
transaction	GAN	Ordinary Shares	Tax liability	$38,094	-14,375	-34%	$2.65	27,595	31 Aug 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	-41,970	-100%	$0.000000^*	0	31 Aug 2022	Ordinary Shares	41,970		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 41,970 RSU's into 41,970 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.