Galaxy Gaming, Inc. Amends CEO Matt Reback’s Employment, Grants Equity

What Happened Galaxy Gaming, Inc. (GLXZ) filed an 8-K to disclose an Amended and Restated Employment Agreement with President and CEO Matt Reback, effective September 1, 2026. The agreement extends his employment through May 31, 2029 and sets updated cash compensation, bonus eligibility, and equity awards, along with customary restrictive covenants.

Key Details

• Base salary: $367,500 for the year ending August 31, 2027, then $385,000 for the remainder of the term.
• Bonus: Eligible for an annual discretionary bonus with a target equal to 75% of base salary based on Board-set performance objectives.
• Stock option: Grant of an option to buy 150,000 shares at a strike price of $1.656 per share; vests 50,000 shares on each of Sept 1, 2027, Sept 1, 2028, and Sept 1, 2029.
• Restricted stock: Conditional grant of 150,000 restricted shares subject to meeting Board-established performance metrics concluding Dec 31, 2028.
• Agreement includes customary non‑competition, non‑solicit, non‑disclosure and non‑disparagement provisions.

Why It Matters This filing confirms the company’s commitment to retaining its CEO through mid‑2029 and aligns a portion of his compensation with company performance through both time‑based options and performance‑contingent restricted stock. For investors, the agreement signals leadership continuity and potential future dilution from up to 300,000 shares (150,000 options + 150,000 restricted shares) if all awards vest or are earned. The size and terms of the bonus and equity grants also highlight how management incentives are tied to achieving Board-defined goals.