GDEV director exercises options for 7,906 shares

GDEV Inc. director Andrew Jeremy Sheppard exercised a fully vested stock option for 7,906 Ordinary Shares on 2026-08-11.

Rhea-AI Filing Summary

GDEV Inc. director Andrew Jeremy Sheppard exercised a fully vested stock option for 7,906 Ordinary Shares on 2026-08-11. The derivative position in this option was reduced to zero, and his directly held Ordinary Shares increased to 8,418 following the transaction.

Insider Trade Summary

7,906 shares exercised/converted

Exercise 2 txns

Insider Sheppard Andrew Jeremy

Role Director

Type	Security	Shares	Price	Value
Exercise	Stock Option F1	7,906	$0.00	$0.00
Exercise	Ordinary Shares	7,906	$0.00	$0.00

Holdings After Transaction: Stock Option — 0 contracts (Direct); Ordinary Shares — 8,418 shares (Direct)

Footnotes (1)

1. F1. The stock option is fully vested and exercisable.

Key Figures

Options Exercised: 7,906 shares Exercise Price: $0.0000 per share Shares After Transaction: 8,418 shares +2 more

5 metrics

Options Exercised 7,906 shares Stock option exercised into Ordinary Shares on 2026-08-11

Exercise Price $0.0000 per share Reported transaction price per share for the option exercise

Shares After Transaction 8,418 shares Directly held Ordinary Shares following the 2026-08-11 exercise

Option Position After Exercise 0 shares Total shares following transaction for the exercised stock option

Option Expiration Date 2031-11-16 Expiration date of the exercised stock option series

Key Terms

Stock Option, Ordinary Shares, Exercise or conversion of derivative security

3 terms

Stock Option financial

"The <b>stock option</b> is fully vested and exercisable."

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

Ordinary Shares financial

"Underlying security title reported as <b>Ordinary Shares</b>."

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

Exercise or conversion of derivative security financial

"Transaction code M described as <b>Exercise or conversion of derivative security</b>."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did GDEV (GDEV) report for Andrew Jeremy Sheppard?

GDEV reported that director Andrew Jeremy Sheppard exercised a stock option for 7,906 Ordinary Shares on 2026-08-11, increasing his directly held Ordinary Shares to 8,418 after the transaction.

How many GDEV (GDEV) shares were acquired in the reported Form 4 transaction?

The Form 4 shows an acquisition of 7,906 Ordinary Shares through the exercise of a stock option. As a result, Andrew Jeremy Sheppard’s directly held Ordinary Shares position became 8,418 after the transaction.

Was the GDEV (GDEV) stock option exercised by Andrew Sheppard fully vested?

Yes. A footnote states that the stock option is fully vested and exercisable. The option covering 7,906 shares was exercised on 2026-08-11, and the derivative position reported for that option went to zero afterward.

What happened to Andrew Sheppard’s stock option position in GDEV (GDEV)?

The stock option for 7,906 shares was exercised, and the derivative position reported for that option decreased to 0 shares following the transaction. Those shares became directly held Ordinary Shares instead.

What is Andrew Sheppard’s direct GDEV (GDEV) shareholding after the Form 4 transaction?

After exercising a stock option into 7,906 Ordinary Shares, Andrew Jeremy Sheppard’s directly held Ordinary Shares position is reported as 8,418 shares, reflecting his holdings immediately following the transaction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/12/2026 - 05:00 PM EDT Learn about SEC filing dates

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^*

Sheppard Andrew Jeremy

(Last) (First) (Middle)

C/O GDEV INC.

55, GRIVA DIGENI

(Street)

LIMASSOL 3101

(City) (State) (Zip)

CYPRUS

(Country)

2. Issuer Name and Ticker or Trading Symbol
GDEV Inc. [ GDEV ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/11/2026

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

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Ordinary Shares	08/11/2026		M		7,906	A	$0	8,418	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
Stock Option	$0	08/11/2026		M			7,906	(1)	11/16/2031	Ordinary Shares	7,906	$0	0	D

Explanation of Responses:

1. The stock option is fully vested and exercisable.

	/s/ Olga Koveza, Attorney-in-Fact	08/12/2026
	** 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).
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)