Form 4: GAN Limited's Chief Legal Officer Reports RSU Settlement and Share Withholding
SEC Form 4
Sylvia Tiscareno, Chief Legal Officer of GAN Limited, reports the settlement of restricted stock units (RSUs) into ordinary shares and the withholding of shares for tax obligations.
Summary
- On March 23, 2025, Sylvia Tiscareno, the Chief Legal Officer of GAN Limited, settled multiple tranches of restricted stock units (RSUs) into ordinary shares.
- A total of 82,255 RSUs were settled, resulting in the acquisition of 82,255 ordinary shares.
- The settled RSUs were from grants made on March 23, 2023, August 1, 2023, and July 22, 2024.
- The issuer withheld 21,151 ordinary shares to cover tax obligations arising from the vesting of the RSUs at a price of $1.78 per share.
- Following these transactions, Ms. Tiscareno directly owns 204,727 ordinary shares and holds derivative securities representing 52,170 to 60,000 ordinary shares.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Future Outlook
The remaining RSUs will vest annually on March 23, 2026 and March 23, 2027.
Industry Context
This filing is a routine disclosure related to executive compensation and equity ownership, common in publicly traded companies. It provides transparency regarding the holdings of key personnel.
Stakeholder Impact
- The transactions have a minor dilutive effect on existing shareholders due to the issuance of new shares from RSU settlements.
Key Dates
| Date | Description |
|---|---|
| 03/23/2023 | Original grant date of some of the RSUs that settled on March 23, 2025. |
| 08/01/2023 | Original grant date of some of the RSUs that settled on March 23, 2025. |
| 03/23/2024 | Date on which one-fourth of the RSUs granted on March 23, 2023 and August 1, 2023 vested. |
| 07/22/2024 | Original grant date of some of the RSUs that settled on March 23, 2025. |
| 03/23/2025 | Date of RSU settlement and share withholding. |
| 03/23/2026 | Date on which 26,085 shares will vest from RSUs originally granted on July 22, 2024. |
| 03/23/2027 | Date on which all remaining RSUs will be fully vested. |
| 03/24/2025 | Date of signature for the Form 4 filing. |
Keywords
GAN Limited, Sylvia Tiscareno, RSU, Restricted Stock Units, Ordinary Shares, Settlement, Tax Withholding, Beneficial Ownership, Form 4
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