[Form 4] High Roller Technologies, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Brandon Eachus, a director and reported 10% owner of High Roller Technologies, Inc. (ROLR), reported an open-market purchase of 20,000 shares on 08/18/2025 at a weighted average price of $2.48 per share. After the purchase, Eachus directly beneficially owned 89,968 shares. The filing also reports existing indirect holdings: 2,588,395 shares through Cascadia Holdings Limited and 731,388 shares through Spike Up Media A.B., plus 39,172 shares issuable upon exercise of a warrant held by Spike Up Media LLC, as previously disclosed. The filing explains ownership is shared jointly with Michael Cribari and Jeffrey Smith for Cascadia holdings and describes the ownership chain through Interactive and its owners Cascadia and OEH Invest AB.

Positive

• Insider open-market purchase of 20,000 shares at a weighted average of $2.48, indicating some direct acquisition by a director
• Comprehensive disclosure of indirect and joint ownership interests clarifies control structure through Cascadia and Interactive

Negative

• None.

Insights

Financial Analyst

TL;DR Insider open-market purchase of 20,000 shares at $2.48 is a routine, modest insider buy versus large indirect holdings.

The purchase is an open-market acquisition under the issuer's trading policies and represents a small direct increment relative to the sizable indirect holdings disclosed. The weighted average price range ($2.35–$2.58) is documented, and the filer commits to providing per-trade pricing upon request. For valuation or trading signals, the transaction size is limited and should be interpreted in context of the large joint positions held by related entities rather than as a material single-event change to ownership.

Corporate Governance Expert

TL;DR Filing documents proper Section 16 reporting and clarifies joint/indirect ownership structure; disclosure aligns with governance norms.

The Form 4 clearly discloses direct and indirect beneficial ownership and clarifies joint voting/dispositive arrangements among related parties, including Cascadia, Spike Up entities, Interactive, and OEH Invest AB. The explanation reconciles previously reported Form 3 positions and cites the internal chain of ownership. From a governance standpoint, the disclosure appears complete and consistent with Section 16 requirements, providing transparency on control relationships and potential collective influence over the issuer.

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^*

Eachus Brandon Christopher

(Last) (First) (Middle)

400 SOUTH 4TH STREET, SUITE 500-#390

(Street)

LAS VEGAS NV 89101

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
High Roller Technologies, Inc. [ ROLR ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025

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	08/18/2025		P(1)		20,000	A	$2.48(2)	89,968	D
Common Stock								2,588,395	I	See Footnote(3)
Common Stock								731,388	I	See footnote(4)

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

Explanation of Responses:

1. Open market purchase of shares in accordance with Issuer's trading policies.

2. The reported price in Column 4 is a weighted average purchase price. These shares were purchased in multiple transactions at prices ranging from $2.35 to $2.58 per share. The Reporting Person undertakes to provide to the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

3. Includes joint beneficial ownership by Michael Cribari, Brandon Eachus and Jeffrey Smith of 2,588,395 shares of common stock of the Issuer held by Cascadia Holdings Limited ("Cascadia") previously reported on Form 3 filed with the Commission on October 23, 2024.

4. Includes indirect joint beneficial ownership of 731,388 shares of common stock held by Spike Up Media A.B. ("Spike Up AB") and 39,172 shares of common stock issuable upon exercise of a warrant of the Issuer held by Spike Up Media LLC ("Spike Up LLC") previously reported on Form 3 filed with the Commission on October 23, 2024. Spike Up LLC is a wholly owned indirect subsidiary of and Spike Up A.B. is a wholly owned subsidiary of Ellmount Interactive A. B. ("Interactive"), respectively. Cascadia and OEH Invest AB own 66.9% and 33.1% of Interactive, respectively. Michael Cribari, Brandon Eachus, and Jeffrey Smith as owners of Cascadia have the voting and dispositive authority over the shares of Issuer held by Cascadia and together with OEH, may be deemed to have joint voting and joint dispositive power over the securities of the Issuer beneficially held by Interactive.

	/s/ Brandon Eachus	08/20/2025
	** 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).
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.

FAQ

What did Brandon Eachus report on Form 4 for ROLR?

The filer reported an open-market purchase of 20,000 shares on 08/18/2025 at a weighted average price of $2.48 per share.

How many shares does Brandon Eachus directly and indirectly own according to the filing?

Following the purchase Eachus directly owns 89,968 shares. Indirect holdings reported include 2,588,395 shares via Cascadia and 731,388 shares via Spike Up A.B., plus 39,172 shares issuable on a warrant held by Spike Up LLC.

Was the purchase part of a Rule 10b5-1 plan or an open-market trade?

The filing states the transaction was an open-market purchase made in accordance with the issuer's trading policies; no 10b5-1 plan is indicated for this trade.

What price range is reported for the purchased shares?

The filing reports a weighted average of $2.48 and notes the shares were purchased at prices ranging from $2.35 to $2.58.

Are the indirect holdings jointly controlled with other parties?

Yes. The filing explains Cascadia holdings are jointly owned by Michael Cribari, Brandon Eachus, and Jeffrey Smith, and Cascadia and OEH Invest AB hold interests in Interactive, which controls Spike Up entities.