UNITED STATES
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
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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. Harry Hagerty, the current Chief Financial Officer, Secretary and Treasurer, and Mr. Hagerty will retain the corporate positions as Secretary and Treasurer pending applicable gaming approvals of Mr. Kopjo, and Mr. Hagerty will serve as a Strategic Advisor to the Company for the remainder of his existing Employment Agreement, pursuant to his recently amended employment agreement.
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.
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.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
Signature Page Follows
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
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GALAXY GAMING, INC. |
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By: |
/s/ Harry C. Hagerty |
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Harry C. Hagerty |
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Chief Financial Officer |