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

Blue & Silver Ventures boosts GameSquare (GAME) share holdings

Filing Impact
(High)
Filing Sentiment
(Positive)
Form Type
4

Rhea-AI Filing Summary

Blue & Silver Ventures, Ltd., an entity associated with director representative Thomas L. Walker, reported a series of open-market purchases of GameSquare Holdings, Inc. common stock. Over April 22–27, it bought 2,234,364 shares at prices around $0.58–$0.60 per share.

After the latest trade, Blue & Silver Ventures directly holds 3,861,736 common shares. The filing also notes that its beneficial ownership figure now includes 4,131 shares that were omitted from prior Forms 4, updating the reported position.

Positive

  • None.

Negative

  • None.

Insights

Entity tied to a company director increased its direct stake through open-market buying.

Blue & Silver Ventures, Ltd. executed four open-market purchases of GameSquare common stock, totaling 2,234,364 shares at prices near $0.58–$0.60. These are active buy decisions rather than option exercises or administrative adjustments.

The position after these trades is 3,861,736 shares, indicating a substantially larger holding than before the sequence of purchases. A footnote clarifies that beneficial ownership now also reflects 4,131 shares previously omitted from earlier reports, so the reported stake is more complete based on this filing.

Insider Blue & Silver Ventures, Ltd.
Role null
Bought 2,234,364 shs ($1.32M)
Type Security Shares Price Value
Purchase Common Stock 84,552 $0.60 $51K
Purchase Common Stock 417,813 $0.60 $251K
Purchase Common Stock 922,890 $0.60 $554K
Purchase Common Stock 809,109 $0.58 $469K
Holdings After Transaction: Common Stock — 3,861,736 shares (Direct, null)
Footnotes (1)
  1. Thomas L. Walker, who is a director of the issuer, is the treasurer for the reporting person and serves on the issuer's board of directors as the reporting person's representative. In light of Mr. Walker's relationship with the reporting person, the reporting person may be deemed a "director by deputization" of the issuer for purposes of Section 16 of the Securities Exchange Act of 1934. This filing is therefore being made out of an abundance of caution, without taking any position as to whether the reporting person is in fact a director by deputization. Mr. Walker disclaims beneficial ownership of any securities of the issuer held by the reporting person, except to the extent of his pecuniary interest therein, if any. The reporting person's beneficial ownership reflected herein includes 4,131 shares of common stock issued to the reporting person, which were omitted from prior Forms 4. Represents the weighted average sale price of Common Stock purchased in a series of open market transactions on the transaction date at prices ranging from $0.4697 to $0.60 per share. Represents the weighted average sale price of Common Stock purchased in a series of open market transactions on the transaction date at prices ranging from $0.580 to $0.60 per share. Represents the weighted average sale price of Common Stock purchased in a series of open market transactions on the transaction date at prices ranging from $0.5902 to $0.60 per share. Represents the weighted average sale price of Common Stock purchased in a series of open market transactions on the transaction date at prices ranging from $0.5970 to $0.60 per share. The Reporting Person undertakes to provide, upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each price.
Total shares purchased 2,234,364 shares Aggregate open-market buys disclosed in this Form 4
Purchase price (latest trade) $0.6000 per share Common stock buy on April 27, 2026
Purchase price (April 22) $0.5800 per share Common stock buy on April 22, 2026
Shares after latest transaction 3,861,736 shares Direct GameSquare common stock holdings post-April 27, 2026
Largest single-day buy 922,890 shares Open-market purchase on April 23, 2026
Previously omitted shares 4,131 shares Common stock now included in beneficial ownership
open-market purchase financial
"transaction_action: "open-market purchase""
An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.
beneficial ownership financial
"The reporting person's beneficial ownership reflected herein includes 4,131 shares"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
director by deputization regulatory
"the reporting person may be deemed a "director by deputization" of the issuer"
Section 16 of the Securities Exchange Act of 1934 regulatory
"for purposes of Section 16 of the Securities Exchange Act of 1934"
A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.
weighted average sale price financial
"Represents the weighted average sale price of Common Stock purchased"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Blue & Silver Ventures, Ltd.
(Last)(First)(Middle)
C/O GAMESQUARE HOLDINGS, INC.
6775 COWBOYS WAY, STE. 1335
(Street)
FRISCO TEXAS 75034
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
GameSquare Holdings, Inc. [ GAME ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
Officer (give title below)XOther (specify below)
See Footnote (1)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/22/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock04/22/2026P809,109A$0.58(3)(7)2,436,481(1)(2)D
Common Stock04/23/2026P922,890A$0.6(4)(7)3,359,371(1)D
Common Stock04/24/2026P417,813A$0.6(5)(7)3,777,184(1)D
Common Stock04/27/2026P84,552A$0.6(6)(7)3,861,736(1)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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Thomas L. Walker, who is a director of the issuer, is the treasurer for the reporting person and serves on the issuer's board of directors as the reporting person's representative. In light of Mr. Walker's relationship with the reporting person, the reporting person may be deemed a "director by deputization" of the issuer for purposes of Section 16 of the Securities Exchange Act of 1934. This filing is therefore being made out of an abundance of caution, without taking any position as to whether the reporting person is in fact a director by deputization. Mr. Walker disclaims beneficial ownership of any securities of the issuer held by the reporting person, except to the extent of his pecuniary interest therein, if any.
2. The reporting person's beneficial ownership reflected herein includes 4,131 shares of common stock issued to the reporting person, which were omitted from prior Forms 4.
3. Represents the weighted average sale price of Common Stock purchased in a series of open market transactions on the transaction date at prices ranging from $0.4697 to $0.60 per share.
4. Represents the weighted average sale price of Common Stock purchased in a series of open market transactions on the transaction date at prices ranging from $0.580 to $0.60 per share.
5. Represents the weighted average sale price of Common Stock purchased in a series of open market transactions on the transaction date at prices ranging from $0.5902 to $0.60 per share.
6. Represents the weighted average sale price of Common Stock purchased in a series of open market transactions on the transaction date at prices ranging from $0.5970 to $0.60 per share.
7. The Reporting Person undertakes to provide, upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each price.
/s/ Thomas L. Walker04/27/2026
** Signature of Reporting PersonDate
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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What does the GameSquare (GAME) Form 4 filed by Blue & Silver Ventures report?

The Form 4 shows Blue & Silver Ventures, Ltd. made several open-market purchases of GameSquare common stock. Across four transactions, it acquired 2,234,364 shares at prices around $0.58–$0.60, materially increasing its direct share position in the company.

How many GameSquare (GAME) shares does Blue & Silver Ventures hold after these trades?

Following the most recent reported transaction, Blue & Silver Ventures directly holds 3,861,736 shares of GameSquare common stock. This figure represents its position after the late-April open-market purchases disclosed in the Form 4, plus a small number of shares previously omitted from earlier filings.

Over what dates did Blue & Silver Ventures buy GameSquare (GAME) shares?

Blue & Silver Ventures reported open-market purchases of GameSquare common stock on April 22, 23, 24, and 27, 2026. Each date involved a separate block of buying activity, together adding up to more than two million additional shares acquired during this late-April period.

At what prices did Blue & Silver Ventures purchase GameSquare (GAME) stock?

The filing reports weighted average purchase prices around $0.58–$0.60 per share. Footnotes explain that, on each date, GameSquare common stock was bought in multiple open-market transactions within ranges generally spanning approximately $0.47–$0.60 per share, depending on the trading day.

Who is Blue & Silver Ventures in relation to GameSquare (GAME)?

Blue & Silver Ventures, Ltd. is a reporting owner with a representative, Thomas L. Walker, serving on GameSquare’s board. The filing notes it may be deemed a “director by deputization,” and Walker disclaims beneficial ownership of its holdings except for any pecuniary interest he may have.

Did the GameSquare (GAME) Form 4 correct any prior reporting for Blue & Silver Ventures?

Yes. A footnote states the reported beneficial ownership now includes 4,131 shares of GameSquare common stock issued to Blue & Silver Ventures that were omitted from prior Forms 4, making this filing an updated reflection of the entity’s current share position.