David J. Steigelfest - 30 Apr 2023 Form 4 Insider Report for Super League Gaming, Inc. (SLE)

Footnote F1

On April 30, 2023, the Issuer cancelled certain stock options previously granted to the Reporting Person under the Issuer's 2014 Amended and Restated Employee Stock Option and Incentive Plan (the "2014 Plan"). In exchange for the cancelled options, the Reporting Person was granted options to purchase 400,000 shares of the Issuer's common stock under the 2014 Plan.

Footnote F2

One-third of the stock options vest on the grant date, with the remainder vesting monthly over the thirty-six month period thereafter, subject to continued service.

Footnote F3

The exercise of the options under this award are contingent upon the Company receiving approval from its stockholders to increase the number of shares available under the 2014 Plan, and will be subject to cancellation in the event stockholder approval is not obtained.

Footnote F4

Each Performance Stock Unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock upon vesting.

Footnote F5

The PSUs were scheduled to vest: (i) 20% upon the Issuer's common stock achieving a 60-day volume-weighted average price ("60-day VWAP") of $4.75 per share, (ii) 20% upon the Issuer's common stock achieving a 60-day VWAP of $6.00 per share; (iii) 20% upon the Issuer's common stock achieving a 60-day VWAP of $7.00 per share; (iv) 20% upon the Issuer's common stock achieving a 60-day VWAP of $8.00 per share; and (v) 20% upon the Issuer's common stock achieving a 60-day VWAP of $9.00 per share.

Footnote F6

On April 30, 2023, the Issuer cancelled certain PSUs previously granted to the Reporting Person under the 2014 Plan. In exchange for the cancelled PSU's, the Reporting Person was granted 150,000 PSUs under the 2014 Plan.

Footnote F7

Subject to continued employment and to accelerated vesting in certain circumstances, the PSUs shall vest: (i) 20% upon the Issuer's common stock achieving a 60-day VWAP of $0.80 per share, (ii) 20% upon the Issuer's common stock achieving a 60-day VWAP of $1.00 per share; (iii) 20% upon the Issuer's common stock achieving a 60-day VWAP of $1.20 per share; (iv) 20% upon the Issuer's common stock achieving a 60-day VWAP of $1.40 per share; and (v) 20% upon the Issuer's common stock achieving a 60-day VWAP of $1.60 per share.