Giuseppe Gardali - 27 May 2025 Form 4 Insider Report for GAN Ltd (GAN)

Reporting relationship: President, B2B
Issuer ticker: GAN
Reported as of: 27 May 2025
Net transaction value: -$162,539
SEC form: 4
Accepted by SEC: 27 May 2025, 14:07:08 UTC
Prior SEC filing: 24 Mar 2025
Source filing: View source filing
Reporting owner signature: /s/ Jeffrey H. Kuras, Attorney-in-Fact

Key filing fact

Giuseppe Gardali filed Form 4 for GAN Ltd (GAN) on 27 May 2025.

Key facts

This page summarizes Giuseppe Gardali's Form 4 filing for GAN Ltd (GAN).
5 reported transactions and 4 derivative rows are listed below.
Accepted by SEC: 27 May 2025, 14:07.

Change

Previous filing in this sequence was filed on 24 Mar 2025.
Current net transaction value: -$162,539.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001964557 Primary reporting owner

Gardali Giuseppe

Relationship: President, B2B
Address: C/O GAN LIMITED, 10845 GRIFFITH PEAK DRIVE, SUITE 200, LAS VEGAS,
Signature: /s/ Jeffrey H. Kuras, Attorney-in-Fact
Signature date: 27 May 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

GAN transaction

Ordinary Shares

Disposed to Issuer

Transaction value: $162,539
Shares: -82,507
Change %: -100%
Price: $1.97
Shares after: 0
Date: 27 May 2025
Ownership: Direct
Footnotes: F1

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

GAN transaction Derivative

Restricted Stock Units

Disposed to Issuer

Transaction value: $0
Shares: -6,031
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 27 May 2025
Ownership: Direct
Underlying class: Ordinary Shares
Underlying amount: 6,031
Exercise price
Footnotes: F2, F3

GAN transaction Derivative

Restricted Stock Units

Disposed to Issuer

Transaction value: $0
Shares: -39,306
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 27 May 2025
Ownership: Direct
Underlying class: Ordinary Shares
Underlying amount: 39,306
Exercise price
Footnotes: F2, F4

GAN transaction Derivative

Restricted Stock Units

Disposed to Issuer

Transaction value: $0
Shares: -21,018
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 27 May 2025
Ownership: Direct
Underlying class: Ordinary Shares
Underlying amount: 21,018
Exercise price
Footnotes: F2, F5

GAN transaction Derivative

Restricted Stock Units

Disposed to Issuer

Transaction value: $0
Shares: -15,850
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 27 May 2025
Ownership: Direct
Underlying class: Ordinary Shares
Underlying amount: 15,850
Exercise price
Footnotes: F2, F6

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Giuseppe Gardali is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 6 footnotes

Footnote F1

Pursuant to the Agreement and Plan of Merger ("Merger Agreement") dated as of November 7, 2023 by and between SEGA Sammy Creation Inc., a Japanese corporation ("SSC") and Arc Bermuda Limited, a Bermuda exempted company limited by shares and a wholly-owned subsidiary of SSC, and GAN Limited, a Bermuda exempted company limited by shares ("GAN"), each outstanding ordinary share of GAN was converted into the right to receive $1.97 in cash, without interest and less any applicable tax withholding, pursuant to the closing of the Merger on May 27, 2025 of GAN with and into SSC.

Footnote F2

Pursuant to the Merger Agreement, at the effective time of the Merger, any vesting conditions applicable to outstanding restricted stock unit awards ("RSUs") under GAN's equity incentive plans automatically accelerated in full and such restricted share units converted into the right of the holder thereof to receive a single lump sum cash payment, without interest, equal to (a) the product of (i) $1.97 and (ii) the number of ordinary shares subject to such RSU, less (b) any applicable tax withholding.

Footnote F3

The RSUs were originally granted on March 11, 2022 and provided for vesting on March 11, 2026.

Footnote F4

The RSUs were originally issued on March 23, 2023 and provided for vesting as to 19,653 shares on each of March 23, 2026 and 2027.

Footnote F5

The RSUs were originally granted on August 1, 2023 and provided for vesting as to 10,509 shares on each of March 23, 2026 and 2027.

Footnote F6

The RSUs were originally granted on July 22, 2024 and provided for vesting as to 7,925 shares on each of March 23, 2026 and 2027.