Thomas Mcchesney - Jan 28, 2022 Form 4 Insider Report for Golden Matrix Group, Inc. (GMGI)

Role: Director
Signature: /s/ Thomas E. McChesney
Stock symbol: GMGI
Transactions as of: Jan 28, 2022
Transactions value $: -$3
Form type: 4
Date filed: 2/1/2022, 02:34 PM
Next filing: Jun 14, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GMGI	Common Stock	Options Exercise	$31.8K	+40K	+26.46%	$0.80	191K	Jan 28, 2022	Direct
transaction	GMGI	Common Stock	Tax liability	-$31.8K	-4.98K	-2.6%	$6.39	186K	Jan 28, 2022	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	GMGI	Stock Option (right to buy)	Options Exercise	$0	-40K	-40%	$0.00	60K	Jan 28, 2022	Common Stock	40K	$0.80	Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents a "net exercise" of outstanding stock options. The reporting person received 35,023 shares of common stock on the net exercise of an option to purchase 40,000 shares of common stock. The Issuer withheld 4,977 shares of common stock underlying the option in payment of the exercise price, based on the closing sales price of the Issuer's common stock on January 28, 2022, the date the option was exercised.
F2	The option vests in three installments as follows: 50% on July 27, 2020, 25% on October 27, 2020 and 25% on January 27, 2021, subject to the Reporting Person's continued performance of services for the Issuer through each vesting date.
F3	Issued in consideration for services to be rendered as a member of the Board of Directors of the Issuer. Granted under the issuer's 2018 Equity Incentive Plan. Exempt pursuant to Rule 16b3(d).