Michael Villani - Jan 6, 2023 Form 3 Insider Report for ESPORTS ENTERTAINMENT GROUP, INC. (GMBL)

Role: Interim CFO and Controller
Signature: /s/ Michael Villani
Stock symbol: GMBL
Transactions as of: Jan 6, 2023
Transactions value $: $0
Form type: 3
Date filed: 1/17/2023, 04:06 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	GMBL	Common stock, $0.001 par value						5K	Jan 6, 2023	Direct
holding	GMBL	Series B Preferred Stock, $0.001 par value						100	Jan 6, 2023	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
holding	GMBL	Employee stock options							Jan 6, 2023	Common stock, $0.001 par value	20K	$6.71	Direct	F2

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

Explanation of Responses:

Id	Content
F1	The Series B Preferred Stock ("Series B") was purchased on December 21, 2022 for $10 per share in cash. The 100 shares of Series B has 25,000,000 votes each and votes together with the outstanding shares of Esports Entertainment Group's ("EEG") common stock as a single class exclusively with respect to any proposal to effect a reverse stock split. The Series B is to be voted without action by the holder on any reverse stock split proposal in the same proportion that shares of common stock are voted. The Series B is not convertible into, or exchangeable, has no rights to any distribution of assets of EEG and is not entitled to receive dividends. The Series B shall be redeemed in whole, but not in part, at any time (i) if such redemption is ordered by the Board of Directors of EEG in its sole discretion or (ii) automatically upon the effectiveness of stockholder approval of the reverse stock split for $10 per share in cash.
F2	Employee stock options were granted on 10/1/2021 and had vested in quarterly installments over a term of 1 year. The employee stock options were fully vested on 10/1/ 2022.

Content

The Series B Preferred Stock ("Series B") was purchased on December 21, 2022 for $10 per share in cash. The 100 shares of Series B has 25,000,000 votes each and votes together with the outstanding shares of Esports Entertainment Group's ("EEG") common stock as a single class exclusively with respect to any proposal to effect a reverse stock split. The Series B is to be voted without action by the holder on any reverse stock split proposal in the same proportion that shares of common stock are voted. The Series B is not convertible into, or exchangeable, has no rights to any distribution of assets of EEG and is not entitled to receive dividends. The Series B shall be redeemed in whole, but not in part, at any time (i) if such redemption is ordered by the Board of Directors of EEG in its sole discretion or (ii) automatically upon the effectiveness of stockholder approval of the reverse stock split for $10 per share in cash.

Employee stock options were granted on 10/1/2021 and had vested in quarterly installments over a term of 1 year. The employee stock options were fully vested on 10/1/ 2022.