Kimo Akiona - Sep 27, 2022 Form 4 Insider Report for PlayAGS, Inc. (AGS)

Role: CFO Chief Acctg Off and Treas
Signature: /s/Victor Gallo, Attorney in Fact
Stock symbol: AGS
Transactions as of: Sep 27, 2022
Transactions value $: -$33,366
Form type: 4
Date filed: 9/30/2022, 08:17 PM
Previous filing: Mar 11, 2022
Next filing: Jan 19, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AGS	Common Stock	Options Exercise		+23.2K	+19.08%		145K	Sep 27, 2022	Direct	F1, F2
transaction	AGS	Common Stock	Tax liability	-$33.4K	-5.44K	-3.76%	$6.13	139K	Sep 27, 2022	Direct	F2, F3

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	AGS	Phantom Stock Unit	Options Exercise		-23.2K	-12.5%		162K	Sep 27, 2022	Common Stock	23.2K		Direct	F1, F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share of phantom stock was the economic equivalent of one share of PlayAGS, Inc. common stock. The Company settled 100% of his shares of phantom stock for shares of PlayAGS, Inc. common stock.
F2	Excluded from the calculation of the amount of beneficially owned securities are 455,549 unvested restricted stock units held by the reporting person as of transaction date.
F3	Exempt transaction pursuant to Rule 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities incident to the vesting of restricted shares, as approved by the Issuer's board of directors in accordance with Rule 16b-3. All of the shares reported as disposed of on this Form 4 were relinquished by the Reporting Person and cancelled by the Issuer in exchange for the Issuer's agreement to pay federal and state tax withholding obligations of the Reporting Person resulting from the settlement of vested restricted shares. The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes.
F4	Each share of phantom stock was the economic equivalent of one share of PlayAGS, Inc. common stock. The reporting person settled 100% of these shares of phantom stock for shares of PlayAGS, Inc. common stock.
F5	The PSUs vest ratably in equal annual installments on each of the first four anniversaries following 9/21/2021, subject generally to the participant's continued employment through the vesting date.