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

Role: Chief Legal Officer
Signature: /s/ Sylvia Tiscareno
Stock symbol: GAN
Transactions as of: Jan 25, 2023
Transactions value $: -$12,252
Form type: 4
Date filed: 1/27/2023, 03:59 PM
Previous filing: Jan 12, 2023
Next filing: Apr 21, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GAN	Ordinary Shares	Options Exercise		+19.1K	+126.45%		34.3K	Jan 25, 2023	Direct	F1
transaction	GAN	Ordinary Shares	Tax liability	-$12.3K	-5.67K	-16.55%	$2.16	28.6K	Jan 25, 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	-19.1K	-25%	$0.00	57.4K	Jan 25, 2023	Ordinary Shares	19.1K		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.