12/23/2025 | Press release | Distributed by Public on 12/23/2025 18:00
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| 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 control number. | SEC 1474 (9-02) | ||
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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 Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Restricted Stock Units | (2) | 12/19/2025 | A | 285,714 | (3) | (3) | Class A common stock | 285,714 | $ 0 | 285,714 | D | ||||
| Restricted Stock Units | (2) | 12/22/2025 | M | 71,430 | (3) | (3) | Class A common stock | 71,430 | $ 0 | 214,284 | D | ||||
| CEO Performance Stock Unit | (4) | 12/19/2025 | A | 571,429 | (4) | (4) | Class A common stock | 571,429 | $ 0 | 571,429 | D | ||||
| Restricted Stock Units | (2) | 12/22/2025 | M | 362,304(5)(6) | (7) | (7) | Class A common stock | 362,304 | $ 0 | 452,889 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Paradise Andrew C/O SKILLZ INC. 6625 BADURA AVENUE LAS VEGAS, NV 89118 |
X | X | Chief Executive Officer | |
| /s/ Nikul D. Patel, Attorney-in-Fact | 12/23/2025 | |
| **Signature of Reporting Person | Date |
| * | 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). |
| (1) | The restricted stock units settled in Class A Common stock of the Company on December 22, 2025. |
| (2) | Each restricted stock unit represents a contingent right to receive one share of the Company's Class A common stock. |
| (3) | As of the grant date, 71,430 restricted stock units have vested. The remaining 214,284 restricted stock units will vest in twelve substantially equal installments over three years on each three month anniversary of January 1, 2025, subject to continuous service with the Company. |
| (4) | Each performance stock unit represents a contingent right to receive one share of the Company's Class A common stock. The number of securities reported represents the target payout of the award. The number of shares of the Company's Class A common stock payable upon vesting of the award could range from 0% to 200% of target, if and to the extent that the Company's stock price reaches specified levels during the performance period from January 1, 2025 to December 31, 2029. No performance stock units have vested. |
| (5) | On June 23, 2023 (the "Effective Date"), the Class A common stock of the Company underwent a 1-for-20 reverse stock split (the "Reverse Stock Split"). All amounts of securities listed herein have been adjusted to reflect the effect of the Reverse Stock Split (even if the listed transaction occurred before the Effective Date of the Reverse Stock Split). |
| (6) | The grant of restricted stock units was previously reported as covering 28,984,577 shares, 16,303,860 (prior to the Reverse Stock Split, which is equal to 815,193 shares post Reverse Stock Split). Following the reported transactions, 452,889 shares remained unvested (as adjusted for the Company's Reverse Stock Split). |
| (7) | 90,576 restricted stock units reported on this report vested prior to December 22, 2025 but were not settled due to black out restrictions. The remainder will vest in substantially equal quarterly installments thereafter over the following twelve calendar quarters. |
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Remarks: Exhibit 24.1 See power of attorney attached. |
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