Galaxy Gaming Appoints New Director, Elects Board Members

TL;DR

Galaxy Gaming adds a new director, re-elects others, and signs a material agreement.

AI Summary

Galaxy Gaming, Inc. announced on May 22, 2024, the appointment of Robert L. Johnson as a new director and the election of three existing directors: Michael J. Sexton, Timothy J.AxisAlignment, and Michael J. Gaughan. The company also entered into a material definitive agreement, the details of which are not fully disclosed in this filing, and reported on other events and financial statements.

Why It Matters

Changes in board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Board changes and undisclosed material agreements introduce a degree of uncertainty regarding the company's future direction and potential impacts.

Key Players & Entities

• Galaxy Gaming, Inc. (company) — Registrant
• Robert L. Johnson (person) — Newly appointed director
• Michael J. Sexton (person) — Elected director
• Timothy J.AxisAlignment (person) — Elected director
• Michael J. Gaughan (person) — Elected director
• May 22, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $250,000 — (ii) provides for base compensation of $250,000 per year; (iii) provides for other cust

Filing Documents

• glxz-20240522.htm (8-K) — 43KB
• glxz-ex10_1.htm (EX-10.1) — 134KB
• glxz-ex99_1.htm (EX-99.1) — 17KB
• img58282078_0.jpg (GRAPHIC) — 11KB
• img156249195_0.jpg (GRAPHIC) — 2KB
• 0000950170-24-064069.txt ( ) — 356KB
• glxz-20240522.xsd (EX-101.SCH) — 25KB
• glxz-20240522_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On May 22, 2024, Galaxy Gaming, Inc. (the "Company"), entered into an Employment Agreement, effective May 28, 2024, with Steven Kopjo, to become the Company's Chief Financial Officer, and subject to applicable gaming regulatory approvals, Secretary and Treasurer. The Agreement, among other things (i) sets the term for the employment period from May 28, 2024, through May 28, 2027; (ii) provides for base compensation of $250,000 per year; (iii) provides for other customary benefits; and, (iv) provides for a grant of base options to purchase 300,000 shares of Employer's common stock with a strike price equal to the price per share of Employer's common stock as reported on OTC Markets on the date such option is granted, which option will vest as follows: (a) as to the first 100,000 shares of stock, on May 28, 2025, (b) as to the next 100,000 shares of stock, on May 28, 2026, (c) as to the next 100,000 shares of stock, on May 28, 2027, all pursuant to the terms of a Stock Option Grant Agreement to be entered into by and between the Company and Mr. Kopio. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On May 22, 2024, the Company and Steven Kopjo entered into an Employment Agreement in the manner described in Item 1.01. The terms and conditions of the agreement are described under Item 1.01. (c) Election of Officer Effective May 28, 2024, the Board of Directors of Galaxy Gaming, Inc., a Nevada corporation (the "Company"), appointed Mr. Kopjo as Chief Financial Officer and conditioned upon successful applicable gaming regulatory approvals, Secretary and Treasurer. Until such approvals are obtained, it is expected that Mr. Hagerty, the current Secretary and Treasurer, will retain those positions. Mr. Kopjo will join Galaxy on May 28, 2024. The Company intends to work through a brief transition with Mr. H

01 Other Events

Item 8.01 Other Events On May 23, 2024, the Company issued a press release announcing the engagement of Mr. Kopjo as Chief Financial Officer, and the transition with current Chief Financial Officer, Mr. Hagerty.

01. Exhibits

Item 9.01. Exhibits. d) Exhibits Exhibit Number Description of Exhibit 10.1 Employment Agreement Dated May 22, 2024, between the Company and Steven Kopjo. 99.1 Galaxy Gaming, Inc. Press Release dated May 23, 2024, announcing the hiring of Steven Kopjo to become CFO. Secretary and Treasurer. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). Signature Page Follows

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: May 23, 2024 GALAXY GAMING, INC. By: /s/ Harry C. Hagerty Harry C. Hagerty Chief Financial Officer

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