4//SEC Filing
Nesset Endre 4
Accession 0001641172-25-012452
CIK 0001799332other
Filed
May 26, 8:00 PM ET
Accepted
May 27, 2:07 PM ET
Size
19.6 KB
Accession
0001641172-25-012452
Insider Transaction Report
Form 4
GAN LtdGAN
Nesset Endre
President, B2C
Transactions
- Disposition to Issuer
Employee Stock Option (right to buy)
2025-05-27−83,430→ 0 totalExercise: $0.01Exp: 2033-08-01→ Ordinary Shares (83,430 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
2025-05-27−35,762→ 0 totalExercise: $0.01Exp: 2032-11-12→ Ordinary Shares (35,762 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
2025-05-27−8,000→ 0 totalExercise: $0.01Exp: 2033-03-23→ Ordinary Shares (8,000 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
2025-05-27−6,321→ 0 totalExercise: $0.01Exp: 2032-03-11→ Ordinary Shares (6,321 underlying) - Disposition to Issuer
Ordinary Shares
2025-05-27$1.97/sh−81,846$161,237→ 0 total(indirect: By Eiketreet OU) - Disposition to Issuer
Ordinary Shares
2025-05-27$1.97/sh−110,201$217,096→ 0 total - Disposition to Issuer
Employee Stock Option (right to buy)
2025-05-27−2,000→ 0 totalExercise: $0.01Exp: 2033-03-23→ Ordinary Shares (2,000 underlying)
Footnotes (7)
- [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.
- [F2]Pursuant to the Merger Agreement, at the effective time of the Merger, any vesting conditions applicable to outstanding options to acquire ordinary shares under GAN's equity incentive plans automatically accelerated in full and such options were automatically cancelled in exchange for the right of the holder thereof to receive a single lump sum cash payment, without interest, equal to (a) the product of (i) the excess, if any, of $1.97 over the per share exercise price of the option and (ii) the number of ordinary shares issuable upon the exercise in full of such option, less (b) any applicable tax withholding.
- [F3]The options were originally granted to the Reporting Person on March 11, 2022, and provided for vesting as to one-fourth of the shares on March 11, 2023, with the remaining shares vesting in equal monthly installments over the subsequent 36 months.
- [F4]The options were originally granted to the Reporting Person on November 12, 2022, and provided for vesting as to one-fourth of the shares on November 12, 2023, with the remaining shares vesting in equal monthly installments over the subsequent 36 months.
- [F5]The options vested immediately upon grant.
- [F6]The options were originally granted on March 23, 2023 and provided for vesting as to one-fourth of the shares on March 23, 2024, with the remaining shares vesting in equal monthly installments over the subsequent 36 months.
- [F7]The options were originally granted on August 1, 2023 and provided for vesting as to one-fourth of the shares on August 1, 2024, with the remaining shares vesting in equal monthly installments over the subsequent 36 months.
Documents
Issuer
GAN Ltd
CIK 0001799332
Entity typeother
Related Parties
1- filerCIK 0001956794
Filing Metadata
- Form type
- 4
- Filed
- May 26, 8:00 PM ET
- Accepted
- May 27, 2:07 PM ET
- Size
- 19.6 KB