Giuseppe Gardali - Mar 11, 2024 Form 4 Insider Report for GAN Ltd (GAN)

Role: President, B2B
Signature: /s/ Jeffrey H. Kuras, Attorney-in-Fact
Stock symbol: GAN
Transactions as of: Mar 11, 2024
Transactions value $: -$4,111
Form type: 4
Date filed: 3/13/2024, 08:48 AM
Previous filing: Aug 30, 2023
Next filing: Mar 26, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GAN	Ordinary Shares	Options Exercise		+6.03K	+16.88%		41.8K	Mar 11, 2024	Direct	F1
transaction	GAN	Ordinary Shares	Tax liability	-$4.11K	-2.84K	-6.79%	$1.45	38.9K	Mar 11, 2024	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	-6.03K	-33.34%	$0.00	12.1K	Mar 11, 2024	Ordinary Shares	6.03K		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 6,032 RSUs into 6,032 GAN Limited ordinary shares on March 11, 2024.
F2	Represents ordinary shares withheld by the Issuer as payment of tax withholdings due upon vesting of RSUs.
F3	The RSUs were originally granted on March 11, 2022 and settled as to one-fourth of the shares on each of March 11, 2023 and 2024. The remaining RSUs will vest as to 25% annually on each of the anniversary dates of the award, and will be 100% vested on March 11, 2026.