[Form 4] GameSquare Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

GameSquare Holdings, Inc. reported insider equity activity for President and Chairman Louis Schwartz. On December 4, 2025 he received a one-time grant of 150,000 restricted stock units under the company’s Amended and Restated Omnibus Equity Incentive Plan, which vest immediately and convert into common stock.

The same day, restricted stock units vested and settled into 266,216 shares of GameSquare common stock, held indirectly through Schwartz and Associates, PLLC, which he wholly owns. Each RSU represents a contingent right to receive one share, and a separate July 11, 2025 long-term incentive award of 464,863 RSUs continues to vest in scheduled installments.

Insider Trade Summary

266,216 shares exercised/converted

Mixed 5 txns

Insider Schwartz Louis

Role President and Chairman

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	150,000	$0.00	--
Exercise	Restricted Stock Units	150,000	$0.00	--
Exercise	Restricted Stock Units	116,216	$0.00	--
Exercise	Common Stock	150,000	$0.00	--
Exercise	Common Stock	116,216	$0.00	--

Holdings After Transaction: Restricted Stock Units — 614.863 shares (Direct); Common Stock — 150,000 shares (Indirect, See Footnote)

Footnotes (1)

1. Represents share held by Schwartz and Associates, PLLC, of which the Reporting Person is 100% owner. Represents shares acquired on vesting and settlement of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's common stock. Reflects the one-time grant under the Issuer's Amended and Restated Omnibus Equity Incentive Plan ("Omnibus Plan") on December 4, 2025 of 150,000 RSUs, which will convert into one share of Issuer's common stock and which vest immediately. On July 11, 2025 (the "Grant Date"), the Reporting Person received 464,863 RSUs under the Issuer's long-term incentive program and which vest as follows: 25% on the Grant Date, 37.5% on the first anniversary of the Grant Date, and 37.5% on the second anniversary of the Grant Date.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Schwartz Louis

(Last) (First) (Middle)

C/O GAMESQUARE HOLDINGS, INC.

6775 COWBOYS WAY, STE. 1335

(Street)

FRISCO TX 75034

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GameSquare Holdings, Inc. [ GAME ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and Chairman

3. Date of Earliest Transaction (Month/Day/Year)
12/04/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/04/2025		M		150,000	A	(2)	150,000	I	See Footnote(1)
Common Stock	12/04/2025		M		116,216	A	(2)	266,216	I	See Footnote(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(3)	12/04/2025		A		150,000		(4)	(4)	Common Stock	150,000	$0	614.863	D
Restricted Stock Units	(3)	12/04/2025		M		150,000		(4)	(4)	Common Stock	150,000	$0	464,863	D
Restricted Stock Units	(3)	12/04/2025		M		116,216		(5)	(5)	Common Stock	116,216	$0	348,647	D

Explanation of Responses:

1. Represents share held by Schwartz and Associates, PLLC, of which the Reporting Person is 100% owner.

2. Represents shares acquired on vesting and settlement of restricted stock units ("RSUs").

3. Each RSU represents a contingent right to receive one share of the Issuer's common stock.

4. Reflects the one-time grant under the Issuer's Amended and Restated Omnibus Equity Incentive Plan ("Omnibus Plan") on December 4, 2025 of 150,000 RSUs, which will convert into one share of Issuer's common stock and which vest immediately.

5. On July 11, 2025 (the "Grant Date"), the Reporting Person received 464,863 RSUs under the Issuer's long-term incentive program and which vest as follows: 25% on the Grant Date, 37.5% on the first anniversary of the Grant Date, and 37.5% on the second anniversary of the Grant Date.

	/s/ Louis Schwartz	12/08/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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