Company: GAME
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023589
Chunk: 43

Company: GameSquare Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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 2025 
     2,344,594  
    $2.47  
     6.16  
    $- 
  
    Exercisable at September 30, 2025 
     2,317,102  
    $2.47  
     6.17  
    $- 

    21

See
Note 4 for a summary of the significant valuation inputs used to value Options issued in relation to the acquisition of FaZe.

Share-based
compensation expense related to the vesting of Options was $4 thousand and $34 thousand for the nine months ended September 30, 2025
and 2024, respectively, and is included in general and administrative expense on the consolidated statements of operations and comprehensive
loss.

(b)
RSUs

The
following is a summary of RSUs outstanding on September 30, 2025, and December 31, 2024, and changes during the nine months then ended:

Schedule of RSUs outstanding 

    Number of shares  
    Weighted-average grant date fair value 
  
    Outstanding at December 31, 2024 
     578,042  
    $2.70 
  
    Granted 
     1,946,192  
     1.75 
  
    Exercised 
     (160,973) 
     1.39 
  
    Forfeited 
     (37,500) 
     0.90 
  
    Outstanding at September 30, 2025 
     2,325,761  
    $2.02 

The
grant-date fair values of RSUs are based on the Company’s stock price as of the grant date.

Shared-based
compensation expense related to the vesting of RSU’s was $1.6 million and $1.3 million for the nine months ended September 30,
2025 and 2024, respectively, and is included in general and administrative expense on the consolidated statements of operations and comprehensive
loss.

14.
Warrants

(a)
Liability-classified warrants having CAD exercise price

The
functional currency of the Company is USD and certain of the Company’s warrants have an exercise price in CAD, resulting liability
classification of the warrants.

The
following is a summary of changes in the value of the warrant liability for the nine months ended September 30, 2025:

Schedule of changes in value of warrant liability