Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 367

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 367
---
.00  
     10.00 
  
    Expected volatility 
     105.00% 
     66.72%
  
    Risk-free interest rate 
     2.92% 
     3.37%
  
    Expected dividend yield 
     0% 
     0%

Volatility
was estimated by using the average historical volatility of the Company. The expected life in years represents the period of time that
options issued are expected to be outstanding. The risk-free rate is based on government treasury bond rates issued with a remaining
term approximately equal to the expected life of the options.

    F-40

Share-based
compensation expense related to the vesting of options was $0.8 million and $0.4 million for the years ended December 31, 2024 and 2023,
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 December 31, 2024, and December 31, 2023, and changes during the periods then ended:

 Schedule of RSUs outstanding

    Number of shares  
    Weighted-average grant date fair value 
  
    Outstanding at December 31, 2022 
     127,809  
     8.25 
  
    Acquisition of Engine 
     41,442  
     5.63 
  
    Granted 
     623,071  
     3.00 
  
    Exercised 
     (125,139) 
     5.40 
  
    Forfeited 
     (2,586) 
     6.12 
  
    Outstanding at December 31, 2023 
     664,597  
    $3.71 
  
    Acquisition of FaZe 
     595,175  
     1.39 
  
    Granted 
     412,313  
     1.34 
  
    Exercised 
     (1,088,132) 
     2.07 
  
    Forfeited 
     (5,911) 
     5.40 
  
    Outstanding at December 31, 2024 
     578,042  
    $2.70 

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

Share-based