Form 4: Golden Matrix Group Director McChesney Receives Amended Restricted Stock Units

Thomas McChesney, a director at Golden Matrix Group, received amended restricted stock units (RSUs) with vesting conditions now tied to the company's financial results as of December 31, 2024, following a change in the company's fiscal year.

Summary

• On May 9, 2024, Golden Matrix Group director Thomas McChesney received amended restricted stock units (RSUs).
• The amendment changes the vesting conditions of the RSUs from being based on financial results as of October 31, 2024, to December 31, 2024, due to the company's fiscal year change.
• The RSUs vest, if at all, at the rate of 1/2 of such RSUs, upon the Issuer meeting certain (1) revenue and (2) Adjusted EBITDA targets, as of December 31, 2024, and upon the public disclosure of such operating results in the Issuer's subsequently filed Annual Report on Form 10-K, subject to the Reporting Person's continued service through the applicable vesting date.
• McChesney directly owns 239,397 shares of common stock.
• He also holds 100,000 RSUs, each representing one share of common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine adjustment to executive compensation following a change in fiscal year, which is generally neutral to positive as it aligns executive incentives with company performance.

Positives

• The granting of RSUs to a director aligns their interests with the company's performance.

Risks

• The RSUs are contingent on the company meeting specific revenue and Adjusted EBITDA targets, which may not be achieved.

Future Outlook

The vesting of the RSUs depends on the company's ability to meet revenue and Adjusted EBITDA targets by December 31, 2024.

Industry Context

This type of equity compensation is common in the industry to incentivize executives and align their interests with shareholders.

Comparison to Industry Standards

• Equity compensation, such as RSUs, is a standard practice among publicly traded companies to incentivize executives and align their interests with shareholders.
• Companies like DraftKings and Penn National Gaming also utilize equity-based compensation plans for their executives.
• The specific terms of the RSUs, such as vesting conditions tied to revenue and EBITDA targets, are tailored to Golden Matrix Group's specific business goals.

Stakeholder Impact

• Shareholders' interests are aligned with the director's through the performance-based vesting of the RSUs.
• The director is incentivized to improve the company's financial performance.

Next Steps

• The company will need to meet its revenue and Adjusted EBITDA targets by December 31, 2024, for the RSUs to vest.
• The company will publicly disclose its operating results in its Annual Report on Form 10-K.

Key Dates