Sylvia Tiscareno - 25 Jan 2023 Form 4 Insider Report for GAN Ltd (GAN)

Role: Chief Legal Officer
Signature: /s/ Sylvia Tiscareno
Issuer symbol: GAN
Transactions as of: 25 Jan 2023
Net transactions value: -$12,252
Form type: 4
Filing time: 27 Jan 2023, 15:59:08 UTC
Previous filing: 12 Jan 2023
Next filing: 21 Apr 2023
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		+19,132	+126%		34,262	25 Jan 2023	Direct	F1
transaction	GAN	Ordinary Shares	Tax liability	$12,252	-5,672	-17%	$2.16	28,590	25 Jan 2023	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	GAN	Restricted Stock Units	Options Exercise	$0	-19,132	-25%	$0.000000	57,398	25 Jan 2023	Ordinary Shares	19,132		Direct	F1, F2

* 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 19,132 RSU's into 19,132 GAN Limited ordinary shares on January 25, 2023.
F2	The RSU's were originally granted on January 25, 2022 and settled as to one-fourth of the shares on January 25, 2023, with the remaining three-fourths of the shares settling in equal monthly installments over the subsequent 36 months.