SharpLink Aligns New Executive Appointment with Strategic Growth Through Time-Based and Performance-Based Equity Awards
Rhea-AI Summary
SharpLink Gaming (Nasdaq: SBET) has granted equity awards to its new Co-CEO Joseph Chalom as part of his employment inducement package. The awards, granted under the company's Inducement Award Plan, include 295,590 time-based restricted stock units and 147,795 performance-based restricted stock units.
The time-based units will vest over three years, with one-third vesting after the first year and the remainder quarterly over two years. The performance-based units will vest after three years, with potential payout ranging 0% to 200% based on performance goals starting July 1, 2025.
Chalom, who joined as Co-CEO on July 24, 2025, brings 20 years of experience from BlackRock, where he notably launched the iShares Ethereum Trust (ETHA), which currently manages over $10 billion in assets.
Positive
- Appointment of experienced executive Joseph Chalom as Co-CEO with 20 years at BlackRock
- Strategic alignment of executive compensation with company performance through performance-based RSUs
- New Co-CEO brings institutional credibility from launching $10B+ Ethereum Trust at BlackRock
Negative
- Significant equity dilution through large RSU grants totaling 443,385 shares
- Complex three-year vesting schedule may delay full leadership commitment
News Market Reaction – SBET
On the day this news was published, SBET declined 0.94%, reflecting a mild negative market reaction. Argus tracked a trough of -7.2% from its starting point during tracking. Our momentum scanner triggered 53 alerts that day, indicating high trading interest and price volatility. This price movement removed approximately $28M from the company's valuation, bringing the market cap to $2.97B at that time.
Data tracked by StockTitan Argus on the day of publication.
MINNEAPOLIS, MN, Sept. 03, 2025 (GLOBE NEWSWIRE) -- SharpLink Gaming, Inc. (Nasdaq: SBET) (“SharpLink” or the “Company”), one of the world’s largest corporate holders of Ether (“ETH”) and prominent industry advocate of Ethereum adoption, today announced that the Compensation Committee of the Board of Directors approved certain equity awards to Joseph Chalom, the Company’s new Co-Chief Executive Officer as a material inducement for him to commence employment with the Company. The equity awards granted to Chalom were made pursuant to his previously disclosed employment agreement.
These awards were granted under the SharpLink Gaming, Inc. Inducement Award Plan as an employment “inducement grant” pursuant to Nasdaq Listing Rule 5635(c)(4). The Inducement Award Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of SharpLink (or following a bona fide period of non-employment) as a material inducement for them to commence employment with SharpLink.
Specifically, Chalom received an award of time-based restricted stock units covering 295,590 shares and an award of performance-based restricted stock units covering 147,795 shares, in each case effective August 27, 2025. Each time-based award will vest over three years, with one-third of the units vesting on the first anniversary of Chalom’s employment commencement date and the remaining units vesting in equal quarterly installments over the next two years. Each performance-based award will vest on the third anniversary of Chalom’s employment commencement date, with payout ranging from
As announced on July 25, 2025, Chalom, a former BlackRock senior executive, was appointed as SharpLink’s new Co-Chief Executive Officer, effective July 24, 2025. He brings world class institutional leadership to the Company, having spent the past 20 years delivering digital finance innovations at BlackRock, including the launch of the iShares Ethereum Trust (ETHA), the largest Ethereum exchange traded product with over
About SharpLink Gaming, Inc.
Headquartered in Minneapolis, Minnesota, SharpLink Gaming, Inc. (Nasdaq: SBET) is one of the world’s largest publicly traded companies to adopt Ether (“ETH”) as its primary treasury reserve asset – a move that aligns the Company with the future of digital capital and gives investors direct exposure to Ethereum, the world’s leading smart-contract platform and second largest digital asset.
SharpLink is also reimagining the future of online gaming. Backed by a veteran team with deep roots in sports media, gaming and technology, SharpLink is charting a new course – building scalable, secure and transparent solutions that challenge outdated models and bring real innovation to the user experience. Learn more at www.sharplink.com.
Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, the execution of the Company’s treasury strategy and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to repurchase shares of SharpLink’s common stock, if any, in the open market through its new stock repurchase program, the Company’s ability to achieve profitable operations, fluctuations in the market price of ETH that will impact the Company’s accounting and financial reporting (see accounting rules discussed below), government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company, changes in applicable laws or regulations, and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the SEC. Under U.S. generally accepted accounting principles, entities are generally required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the balance sheet and income statement results. Additionally, for certain types of crypto assets, the Company may be required to record associated impairment charges reflected in net income as a result of a decrease in the market price of ETH below the cost value at which the Company’s ETH are carried on its balance sheet. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company does not undertake any responsibility to update the forward-looking statements in this press release.
Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
ir@sharplink.com
Media Contact:
media@sharplink.com
FAQ
What equity awards did SharpLink Gaming (SBET) grant to its new Co-CEO?
What is the vesting schedule for SBET's new Co-CEO equity awards?
Who is Joseph Chalom and what is his background before joining SharpLink Gaming?
When did Joseph Chalom start as SharpLink Gaming's Co-CEO?
What is the purpose of SharpLink's Inducement Award Plan?
