Form 4: Snail, Inc. Director Ryan Jamieson Receives $60,000 in Restricted Stock Units

Director Ryan Jamieson received 43,478 Restricted Stock Units (RSUs) from Snail, Inc. valued at $60,000, vesting quarterly.

Summary

• On November 10, 2023, Ryan Jamieson, a director of Snail, Inc., was granted 43,478 Restricted Stock Units (RSUs).
• The RSUs were issued under the Issuer's 2022 Omnibus Incentive Plan, as part of the Independent Director Agreement.
• The fair market value of the RSUs on the grant date was $60,000.
• Each RSU represents a contingent right to receive one share of Snail, Inc.'s Class A common stock.
• The RSUs will vest in four equal quarterly installments, starting in the quarter following Mr. Jamieson's appointment.
• The transaction was reported on March 13, 2024.

Sentiment

Score: 6

Explanation: The document is a standard SEC filing related to director compensation. It's neutral in tone and doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Positives

• The grant of RSUs to a director aligns their interests with those of the shareholders.
• The vesting schedule encourages continued service and contribution to the company.

Management Comments

• Under the Independent Director Agreement the Issuer entered into with Mr. Jamieson (the 'Director Agreement'), Mr. Jamieson was issued 43,478 shares of RSUs with a Fair Market Value on the grant date equal to sixty thousand dollars ($60,000) under the under the Issuer's 2022 Omnibus Incentive Plan.

Industry Context

Equity compensation, such as RSUs, is a common practice for compensating directors and aligning their interests with shareholders in publicly traded companies. The specific amount and vesting schedule can vary based on company size, industry, and individual contributions.

Comparison to Industry Standards

• Director compensation packages vary widely across the industry.
• Companies like Activision Blizzard and Electronic Arts also use equity-based compensation for their directors.
• The value of the RSUs granted to Mr. Jamieson should be compared to the compensation packages of directors at similarly sized gaming companies to assess its competitiveness.

Stakeholder Impact

• Shareholders may view the RSU grant as a way to incentivize the director.
• The grant has a dilutive effect on existing shareholders, although the impact is likely minimal given the size of the grant.

Key Dates