secwatch.observer — SEC 8-K summary
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Issuer:     Galaxy Gaming, Inc. (GLXZ)
CIK:        0000013156
Form:       8-K
Filed at:   2022-06-21T23:59:59+00:00
Accession:  0000950170-22-011874
Event type: other_material
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Galaxy Gaming extends CEO Todd Cravens' contract to July 2024, adds EBITDA-based equity grants
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- Employment term extended from July 27, 2022 to July 26, 2024.
- Annual salary increased to $300,000, effective August 1, 2022.
- Eligible for up to 20k shares per year if 80% EBITDA target met; additional up to 20k at 100%, 30k at 110%, 40k at 115%.
- Shares vest one year from grant; forfeited if leave before vesting.
- Change of control triggers immediate grant of 20k shares for each year not yet granted.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/13156/000095017022011874/0000950170-22-011874-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/13156/000095017022011874/glxz-20220615.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-011874

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer