Jan Roos
GANAbout Jan Roos
Jan Roos is Chief Technology Officer at GAN, serving in the role since January 13, 2022, after leading technology at Coolbet and holding senior development roles at Betsson Group . He is 44 years old as of April 29, 2025 and holds a Bachelor’s Degree in Network Software and Intelligent Systems from Tallinn Technical University . His compensation design features a 100% of salary target bonus split 50% on company performance and 50% on individual objectives, plus annual equity awards primarily in stock options vesting over four years; GAN’s filings do not disclose TSR-, revenue-, or EBITDA-linked targets for his bonus . Biography descriptions emphasize extensive experience in gaming and gambling technologies and systems across B2B and B2C iGaming and sports betting .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Vincent Group p.l.c. (“Coolbet”) | Chief Technology Officer | 2015–present (pre-GAN promotion) | Led technology with focus on gaming and gambling technologies and systems |
| Betsson Group | Head of Software Development; Development Centre Manager | 2009–2015 | Managed software development and engineering operations |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No external board roles listed in GAN’s proxy biography for Roos |
Fixed Compensation
| Item | Value | Notes |
|---|---|---|
| Base Salary (EUR) | €17,500 per month | Employment contract with VG Estonia OÜ (GAN’s Estonian subsidiary) |
| Annual Base (USD) used in CIC calculations | $240,197 | Conversion as of Dec 28, 2023 in DEFM14A; PREM14A used $236,955 on Nov 24, 2023 |
| Target Bonus % | 100% of annual base salary | Payable up to 50% cash and 50% RSUs (2022 onward) |
| Actual Bonus Paid (2022) | $60,200 | Summary Compensation Table (FY 2022) |
| Non‑compete Compensation | 100% of annual base salary paid monthly during 12‑month non‑compete | GAN may cancel non‑compete upon 120 days’ notice |
Performance Compensation
| Metric | Weighting | Target (as % of salary) | Actual (2022) | Vesting/Timing |
|---|---|---|---|---|
| Company performance goals (set annually by Compensation Committee) | 50% | 100% combined target bonus | $60,200 total bonus (aggregate) | Bonus paid within 90 days after fiscal year end |
| Individual objectives (defined by CEO in consultation with Compensation Committee) | 50% | 100% combined target bonus | $60,200 total bonus (aggregate) | Bonus paid within 90 days after fiscal year end |
Equity Ownership & Alignment
- Insider hedging and pledging are prohibited for executive senior personnel under GAN’s Insider Trading Policy .
- Equity plan features include minimum 12‑month vesting, no option/SAR repricing without shareholder approval, and clawback applicability to awards .
| Beneficial Ownership (as of Apr 25, 2023) | Shares | Notes |
|---|---|---|
| Jan Roos | 84,400 | Includes 43,872 shares issuable upon exercise of options exercisable within 60 days |
Outstanding Equity Awards at Fiscal Year End 2022:
| Option Grant | Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration | Notes |
|---|---|---|---|---|---|
| Stock option | 13,854 | 21,146 | 17.89 | 5/4/2031 | Vests 25% after 1 year, then monthly over 36 months |
| Stock option | — | 37,303 | 0.01 | 1/26/2032 | Year-one equity grant; vesting commenced Q1 2022 |
| Stock option | 16,318 | — | 0.01 | 4/27/2032 | Vests as per 2020 Plan terms |
Employment Terms
| Term | Detail |
|---|---|
| Contract Start Date | January 13, 2022 |
| Employer & Term | VG Estonia OÜ; indefinite term |
| Confidentiality | 3 years post‑employment |
| Non‑compete | 12 months; extensive geography (Estonia, Latvia, Lithuania, Malta, Finland, Sweden, Norway, Denmark, Iceland, Canada, Chile, Peru, Poland, Ecuador, Paraguay, USA, UK, Bulgaria, Israel, plus other jurisdictions where ≥5% of Group turnover) |
| Non‑compete Pay | 100% of annual base salary paid monthly during non‑compete |
| Transaction Bonus (Single Trigger) | 100% of then‑current annual base salary, payable within 10 days of change‑in‑control |
| Cash Severance (Non‑CIC) | 3× then‑current monthly remuneration (includes management/director services) if terminated other than for cause |
| Cash Severance (CIC Double Trigger) | 1.5× (salary + target bonus) if terminated without cause or for good reason within 3 months before or 2 years after change‑in‑control; includes pro‑rata bonus |
| Equity Acceleration (CIC Double Trigger) | Full vesting of unvested equity upon qualifying termination |
| Bonus Structure | Target bonus equal to 100% of salary; 50% company performance, 50% individual objectives; up to 50% cash and 50% RSUs (from 2022 onward) |
Change‑of‑Control Economics (Estimated)
DEFM14A discloses estimated payments for Jan Roos upon GAN’s merger closing, subject to assumptions (single vs double triggers and hypothetical termination as of closing); SSC’s acquisition of GAN completed May 27, 2025 .
| Component | Amount (USD) | Notes |
|---|---|---|
| Cash (total) | $1,441,182 | Composition below per DEFM14A |
| • Transaction Bonus (single trigger) | $240,197 | 100% of annual base salary (USD conversion) |
| • Non‑compete Compensation | $240,197 | 12 months of base salary during non‑compete |
| • Severance (double trigger) incl. pro‑rata bonus | $960,788 | 1.5× (salary + target bonus) plus pro‑rata bonus |
| Equity (cashed out at $1.97/share) | $306,185 | For options/RSUs with exercise price below $1.97 |
| Total (Cash + Equity) | $1,747,367 | Non‑binding advisory disclosure |
Note: PREM14A earlier estimated cash $1,165,029, equity $396,132, total $1,561,161 under different currency assumptions and triggers; the definitive proxy (Jan 2024) supersedes preliminary estimates .
Risk Indicators & Red Flags
- Late Section 16 filings: GAN disclosed three late Form 4s filed by Roos in 2022 for grants of stock options (administrative timeliness issue) .
- Anti‑hedging/pledging policy: GAN prohibits executive senior personnel from hedging or pledging company securities, reducing misalignment risk .
- Equity plan governance: Minimum 12‑month vesting, prohibition on option/SAR repricing without shareholder approval, and clawback applicability support investor protections .
Compensation Structure Analysis
- Cash vs equity mix: 2022 compensation totaled $620,400, with $221,300 salary, $60,200 bonus, and $338,900 option awards—equity accounted for ~55% of total, indicating strong long‑term alignment in the grant year .
- Shift to RSUs for bonus: From 2022 onward, up to 50% of the annual bonus may be paid in immediately vested RSUs, increasing equity participation and liquidity versus options .
- Performance metrics: Bonus structure uses a balanced 50/50 split between company goals and individual objectives; GAN filings do not specify hard operational targets (e.g., TSR, revenue, EBITDA) for Roos’s annual bonus .
- Clawback/deferred comp: Awards may be subject to clawback, and the plan permits deferral elections for directors (and allows equity in lieu of cash fees), supporting governance flexibility .
Summary Compensation (2022):
| Year | Salary ($) | Bonus ($) | Stock Awards ($) | Option Awards ($) | All Other ($) | Total ($) |
|---|---|---|---|---|---|---|
| 2022 | 221,300 | 60,200 | — | 338,900 | 6,100 | 620,400 |
Investment Implications
- Alignment and upside participation: Equity heavy grant year and plan governance (minimum vesting, no repricing, clawbacks) support long‑term alignment; prohibition on hedging/pledging curbs adverse incentives .
- Change‑of‑control realized: SSC’s acquisition closed May 27, 2025; Roos’s contract provides a single‑trigger transaction bonus and potential double‑trigger severance/equity acceleration, implying near‑term liquidity and reduced retention risk post‑close .
- Retention and selling pressure: Non‑compete pay at 100% of salary for 12 months and double‑trigger severance reduce immediate turnover risk; equity cash‑out at $1.97/share likely mitigated insider selling pressure around the deal timeline .
- Administrative controls: Isolated late Form 4s indicate process improvement opportunities but are not financially material; governance policies and updated equity plan features offset compliance risk .
Sources: GAN 8-K Jan 19, 2022 (Roos employment agreement & biography) **[1799332_0001493152-22-001614_ex10-1.htm:0]** **[1799332_0001493152-22-001614_ex10-1.htm:7]** **[1799332_0001493152-22-001614_ex10-1.htm:10]** **[1799332_0001493152-22-001614_form8-k.htm:1]**; GAN DEF 14A Apr 28, 2023 (compensation, equity awards, governance, ownership, Section 16) **[1799332_0001140361-23-021615_ny20007587x1_def14a.htm:17]** **[1799332_0001140361-23-021615_ny20007587x1_def14a.htm:22]** **[1799332_0001140361-23-021615_ny20007587x1_def14a.htm:28]** **[1799332_0001140361-23-021615_ny20007587x1_def14a.htm:30]** **[1799332_0001140361-23-021615_ny20007587x1_def14a.htm:32]** **[1799332_0001140361-23-021615_ny20007587x1_def14a.htm:33]**; GAN DEFM14A Jan 9, 2024 (golden parachute details & salary conversion) **[1799332_0001493152-24-001777_formdefm14a.htm:81]** **[1799332_0001493152-24-001777_formdefm14a.htm:88]**; GAN PREM14A Dec 15, 2023 (preliminary parachute estimates) **[1799332_0001493152-23-045100_formprem14a.htm:82]** **[1799332_0001493152-23-045100_formprem14a.htm:88]**; GAN DEF 14A May 1, 2025 (Insider Trading Policy, current execs, age) **[1799332_0001641172-25-007940_formdef14a.htm:13]** **[1799332_0001641172-25-007940_formdef14a.htm:17]**; GAN press release May 27, 2025 (deal closing) **[1799332_cb8f3633b46b41b383715488be1ecd06_0]**.