FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Tiscareno Sylvia
2. Issuer Name and Ticker or Trading Symbol

GAN Ltd [ GAN ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chief Legal Officer
(Last)          (First)          (Middle)

C/O GAN LIMITED, 400 SPECTRUM CENTER DRIVE SUITE 1900
3. Date of Earliest Transaction (MM/DD/YYYY)

3/23/2023
(Street)

IRVINE,, CA 92618
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)        (State)        (Zip)
Rule 10b5-1(c) Transaction Indication
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Ordinary Shares 3/23/2023  M  30000 A (1)58590 D  
Ordinary Shares 3/23/2023  F(2)  8895 D$1.39 49695 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units  (3)3/23/2023  A   120000     (4) (4)Ordinary Shares 120000 $0 120000 D  
Restricted Stock Units  (3)3/23/2023  A   30000     (5) (5)Ordinary Shares 30000 $0 30000 D  
Restricted Stock Units  (1)3/23/2023  M     30000   (5) (5)Ordinary Shares 30000 $0 0 D  

Explanation of Responses:
(1) The transaction relates to the settlement of 30,000 Restricted Stock Units ("RSUs") into 30,000 GAN Limited ordinary shares on March 23, 2023.
(2) Represents ordinary shares withheld by the Issuer as payment of tax withholdings due upon vesting of RSUs.
(3) Each RSU represents a contingent right to receive one ordinary share of GAN Limited or the cash equivalent of such share.
(4) The RSUs will vest as to 25% annually on each of the anniversary dates of the award, and will be 100% vested on March 23, 2027.
(5) The RSUs vested immediately upon grant.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Tiscareno Sylvia
C/O GAN LIMITED
400 SPECTRUM CENTER DRIVE SUITE 1900
IRVINE,, CA 92618


Chief Legal Officer

Signatures
/s/ Sylvia Tiscareno4/10/2023
**Signature of Reporting PersonDate


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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