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Form 8-K Galaxy Gaming, Inc. For: Jan 25

January 27, 2023 12:27 PM EST
0000013156NONEfalse00000131562023-01-252023-01-25

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): January 25, 2023

img155321833_0.jpg 

GALAXY GAMING, INC.

(Exact Name of Registrant as Specified in Its Charter)

Nevada

(State or Other Jurisdiction of Incorporation)

 

000-30653

 

20-8143439

(Commission File Number)

 

(IRS Employer Identification No.)

 

 

6480 Cameron Street Ste. 305

 

 

Las Vegas, Nevada

 

89118

(Address of Principal Executive Offices)

 

(Zip Code)

 

(702) 939-3254

(Registrant’s Telephone Number, Including Area Code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each Class

 

Trading Symbol(s)

 

Name of each exchange on which registered

Common Stock

 

GLXZ

 

OTCQB marketplace

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 


 

Item 1.01 Entry into a Material Definitive Agreement.

 

On January 25, 2023, the Board of Directors (“Board”) of Galaxy Gaming, Inc., a Nevada corporation (the “Company”), by unanimous written consent voted to approve a reduction to its compensation arrangements with non-employee directors for the fiscal year 2023.

 

Targeted aggregate annual Board compensation for 2023 shall be at the revised levels below and shall continue to be paid 60% in cash and 40% in stock. Cash compensation will be paid monthly in arrears and stock compensation will be paid quarterly in arrears with the stock valued at the average daily closing price in the last month of the quarter.

 

The Board approved the annual Board compensation for 2023 as noted in the table below.

 

Annual Compensation Target

Board Member

Audit Committee Chair

Board Chair

$127,500

$148,750

$170,000

 

 

Item 9.01. Financial Statements and Exhibits.

 

None

 

 

 


 

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: January 27, 2023

 

 

GALAXY GAMING, INC.

 

 

 

 

By:

/s/ Harry C. Hagerty

 

 

Harry C. Hagerty

 

 

Chief Financial Officer

 

 

 

 


ATTACHMENTS / EXHIBITS

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IDEA: Financial_Report.xlsx

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