[Form 4] PlayAGS, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Netflix Inc. (NFLX) Form 4 filing dated 07/02/2025 discloses that director Susan E. Rice received a grant of 48 non-qualified stock options on 07/01/2025. Each option entitles the holder to purchase one share of Netflix common stock at an exercise price of $1,293.60. The options become exercisable immediately and expire on 07/01/2035. Following the transaction, Rice beneficially owns 48 derivative securities; no changes to non-derivative share ownership were reported. The filing was signed on Rice’s behalf by an authorized signatory.

The small size of the award—48 options versus Netflix’s ~443 million shares outstanding—implies immaterial dilution and limited immediate market impact. Nevertheless, the grant aligns the director’s incentives with shareholder value creation over the next decade.

Positive

• Long-dated 10-year option aligns director incentives with sustained share appreciation.

Negative

• Immaterial size (48 options) offers little insight into insider sentiment or company outlook.

Insights

Equity Compensation Analyst

TL;DR: Routine 48-option grant to director; negligible dilution, modest alignment incentive.

This Form 4 records a standard board compensation event: a 48-unit non-qualified option grant at a strike of $1,293.60, matching recent trading ranges. With an exercisable term out to 2035, the award is designed for long-run alignment rather than short-term signaling. Given Netflix’s multi-hundred-million share count, the economic and dilutionary effect is de minimis. No open-market buying or selling occurred, so the filing carries neutral information content for investors.

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

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X

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^*

Lopez David

(Last) (First) (Middle)

6775 S. EDMOND ST., STE. 300

(Street)

LAS VEGAS NV 89118

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PlayAGS, Inc. [ AGS ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

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	06/30/2025		D		1,004,108(1)	D	(2)	0	D
Restricted Stock Units	06/30/2025		D		271,131(3)	D	(4)	0	D
Restricted Stock Units	06/30/2025		D		243,691(5)	D	(6)	0	D

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
Phantom Stock Units	(7)	06/30/2025		D			132,560(8)	(7)	(7)	.(7)	132,560(7)	(7)	0(7)	D

Explanation of Responses:

1. Reflects disposition of PlayAGS, Inc. ("Issuer") common stock, par value $0.01 per share ("Common Stock"), upon the consummation of the transactions contemplated by the Agreement and Plan of Merger (the "Merger Agreement"), dated as of May 8, 2024, by and among Issuer, Bingo Holdings I, LLC, a Delaware limited liability company ("Parent") and an affiliate of Brightstar Capital Partners, and Bingo Merger Sub, Inc., a Nevada corporation and a wholly owned subsidiary of Parent ("Merger Sub"), including the consummation of the merger (the "Merger") between Issuer and Merger Sub on June 30, 2025.

2. At the effective time of the Merger (the "Effective Time"), each share of Common Stock that was outstanding as of immediately prior to the Effective Time was cancelled and ceased to exist and was converted into the right to receive $12.50 in cash, without interest, subject to any withholdings of taxes required by applicable law.

3. Reflects disposition of Issuer restricted stock units awards that vested based solely upon continued employment or service (each, a "RSU") upon the consummation of the transactions contemplated by the Merger Agreement, including the consummation of the Merger on June 30, 2025.

4. At the Effective Time, each RSU that was outstanding immediately prior to the Effective Time, whether vested or unvested, was cancelled and converted into the right to receive an amount in cash, without interest, equal to (i) the total number of shares of Issuer common stock, par value $0.01 per share, underlying such RSU, multiplied by (ii) $12.50, less applicable tax withholdings.

5. Reflects disposition of Issuer restricted stock unit awards that vested based on either solely the achievement of performance goals or both the achievement of performance goals and continued employment or service (each, a "PSU"), the amount of some restricted stock unit awards increased based on the stock price achieved that was greater than the target, upon the consummation of the transactions contemplated by the Merger Agreement, including the consummation of the Merger on June 30, 2025.

6. At the Effective Time, each PSU that was outstanding immediately prior to the Effective Time, whether vested or unvested, was cancelled and converted into the right to receive an amount in cash, without interest, equal to (i) the total number of shares of Issuer common stock, par value $0.01 per share, (determined without regard to future employment or service vesting requirements) issuable in settlement of such PSU immediately prior to the Effective Time, multiplied by (ii) $12.50, less applicable tax withholdings.

7. At the Effective Time, each PhSU that was outstanding immediately prior to the Effective Time, whether vested or unvested, was cancelled and converted into the right to receive an amount in cash, without interest, equal to (i) the total number of units underlying such PhSU, multiplied by (ii) $12.50, less applicable tax withholdings.

8. Reflects disposition of Issuer phantom stock unit awards that vested based solely upon continued employment or service (each, a "PhSU") upon the consummation of the transactions contemplated by the Merger Agreement, including the consummation of the Merger on June 30, 2025.

Remarks:

The foregoing descriptions in the footnotes to this Form 4 are qualified in their entirety by reference to the terms of the Merger Agreement. In the event of any conflict between the descriptions above and the terms set forth in the Merger Agreement, the terms set forth in the Merger Agreement shall control.

	/s/Rob Ziems, Attorney in Fact	07/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did Netflix (NFLX) disclose in the July 2025 Form 4?

Director Susan E. Rice received 48 non-qualified stock options exercisable at $1,293.60, expiring 07/01/2035.

Did Susan Rice buy or sell any Netflix shares?

No open-market purchases or sales of common stock were reported—only an option grant.

What is the strike price of the granted options?

$1,293.60 per share.

How many Netflix shares could be issued if the options are exercised?

Up to 48 new shares could be issued, a negligible fraction of shares outstanding.

When do the options granted to Susan Rice expire?

The expiration date is 07/01/2035.