Company: GAME
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023589
Chunk: 68

Company: GameSquare Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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30

Officer
Grants

On
July 11, 2025 (the “Grant Date”), Justin Kenna, Louis Schwartz, and Michael Munoz were each granted (i) options to purchase
an aggregate of 1,045,712 shares of GameSquare common stock and (ii) 464,863 restricted stock units (“RSUs”), each representing
a contingent right to receive one share of GameSquare common stock. The grants were made as part of the GameSquare long-term incentive
program and vest as follows: 25% on the Grant Date, 37.5% on the first anniversary of the Grant Date, and 37.5% on the second anniversary
of the Grant Date.

On
July 11, 2025, Justin Kenna was also granted a one-time grant of stock options to purchase an aggregate of 150,000 shares of GameSquare
common stock, and 225,000 restricted stock units, which will convert into one share of GameSquare common stock, pursuant to Justin Kenna’s
Employment Agreement, and which vest immediately.

Subsequent to the foregoing approvals, the Company determined that the option components of these awards could not
be validly granted under the Company’s equity incentive plan because the number of shares then authorized for issuance under the
Company’s articles of incorporation was insufficient. Accordingly, no option agreements were executed, and the options were never
formally issued.

Nasdaq
bid price requirement 

On
October 16, 2024, we received a letter from The Nasdaq Stock Market LLC indicating that we have failed to comply with the minimum bid
price requirement of Nasdaq Listing Rule 5550(a)(2). Nasdaq Listing Rule 5550(a)(2) requires that companies listed on the Nasdaq Capital
Market maintain a minimum closing bid price of at least $1.00 per share. On July 22, 2025, we received a letter from the NASDAQ Listing
Qualifications Staff notifying us that we have regained compliance with NASDAQ’s minimum bid price requirements for continued listing
on the Nasdaq Capital Market. The letter noted that as a result of the closing bid price of the Company’s common stock having been
at $1.00 per share or greater for at least ten consecutive business days, from July 8, 2025 to July 21, 2025, we have regained compliance
with Listing Rule 5550(a)(2)and the matter is now closed.