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 0001621672

 2023-01-01
 2023-12-31

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 2023-06-30

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 2024-04-25

 --12-31FY2023

 UNITED STATES

 SECURITIES AND EXCHANGE COMMISSION

 Washington, D.C. 20549

 FORM 10-K/A

 (Amendment No. 1)

 (Mark One)

 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the scal year ended December 31, 2023

 OR

 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934

 For the transition period from to

 Commission File Number 001-38819

 SUPER LEAGUE ENTERPRISE, INC.

 (Exact name of registrant as specified in its charter)

 Delaware

 47-1990734

 (State or other jurisdiction of incorporation or

 organization)

 (IRS Employer Identification No.)

 2912 Colorado Ave., Suite #203

 Santa Monica, California 90404

 (Address of principal executive offices)

 Company: ( 213) 421-1920; Investor Relations: (203) 741-8811

 (Issuer's telephone number)

 Securities registered pursuant to Section 12(b) of the Act:

 Title of each class

 Trading Symbol(s)

 Name of each exchange on which

 registered

 Common Stock, par value $0.001 per share

 SLE

 NASDAQ Capital Market

 Indicate by check mark if the registrant is a well-known seasoned issuer, as de ned in Rule 405 of the Securities Act. Yes No

 Indicate by check mark if the registrant is not required to le reports pursuant to Section 13 or Section 15(d) of the Act. Yes No

 Indicate by check mark whether the registrant (1) has led all reports required to be led by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to le such reports), and (2) has been subject to such ling requirements for the past 90 days. Yes No

 Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such les). Yes No

 Indicate by check mark whether the registrant is a large accelerated ler, an accelerated ler, a non-accelerated ler, a smaller reporting company, or an emerging growth company. See the de nitions of "large accelerated ler," "accelerated ler," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

 Large accelerated filer

 Accelerated filer

 Non–Accelerated filer

 Small reporting company

 Emerging growth company

 If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised nancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.

 If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.

 Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).

 Indicate by check mark whether the registrant is a shell company (as de ned in Rule 12b-2 of the Act). Yes No

 The aggregate market value of the common stock of the registrant held by non-affiliates of the registrant on June 30, 2023, the last business day of the registrant's second fiscal quarter was approximately $ 14,237,000.

 As of April 25, 2024, there were 6,506,183 shares of the registrant's common stock, $0.001 par value, issued and outstanding.

 EXPLANATORY NOTE

 This Amendment No. 1 on Form 10-K/A (the " Amendment ") amends the Annual Report on Form 10-K of Super League Enterprise, Inc. (the " Company, " " our " or " we ") for the year ended December 31, 2023, originally filed with the Securities and Exchange Commission (" SEC ") on April 15, 2024 (the " Original Filing "). We are filing this Amendment to present the information required by Items 10, 11, 12, 13, and 14 of Part III of the Original Filing in reliance on General Instruction G(3) to Form 10-K, which provides that registrants may incorporate by reference certain information from a definitive proxy statement filed with the SEC within 120 days after fiscal year end. In addition, the reference on the cover of the Original Filing to the incorporation by reference to portions of our definitive proxy statement into Part III of the Original Filing is hereby deleted.

 In accordance with Rule 12b-15 under the Securities Exchange Act of 1934, as amended, (i) Part III, Items 10 through 14 of the Original Filing are hereby amended and restated in their entirety, and (ii) Part IV, Item 15 of the Original Filing is hereby amended and restated in its entirety. In addition, new certifications of our principal executive officer and principal financial officer as required by Section 302 of the Sarbanes-Oxley Act of 2022 are attached, each as of the filing date of this Amendment. Except as described above, no other changes have been made to the Original Filing.

 Except as stated herein, this Amendment does not reflect events occurring after the filing of the Original Filing and no attempt has been made in this Amendment to modify or update other disclosures as presented in the Original Filing.

 Page No.

 10.

 Directors, Executive Officers and Corporate Governance

 11.

 Executive Compensation

 12.

 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

 13.

 Certain Relationships and Related Transactions, and Director Independence

 14.

 Principal Accounting Fees and Services

 15.

 Exhibits and Financial Statement Schedules

 SIGNATURES

 References in this Annual Report on Form 10-K to " Super League Enterprise, Inc., " " Super League, " " Company, " " we, " " us, " " our, " or similar references mean Super League Enterprise, Inc. References to the " SEC " refer to the U.S. Securities and Exchange Commission.

 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

 Board of Directors

 Our Amended and Restated Bylaws (" Bylaws ") provide that the number of directors that constitute the entire Board of Directors (the " Board ") shall be fixed from time to time by resolution adopted by a majority of the entire Board, but that in no event shall the number be less than one. Our Amended and Restated Certificate of Incorporation, as amended (our " Charter ") classifies our Board of Directors into three classes with staggered three-year terms, designated as follows:

 Class I, comprised of one director, Kristin Patrick, with one vacancy (with a term expiring at our 2024 annual meeting of stockholders);

 Class II, comprised of two directors, Jeff Gehl and Michael Keller (with terms expiring at our 2025 annual meeting of stockholders).

 Class III, comprised of two directors, Ann Hand and Mark Jung (with terms expiring at our 2025 annual meeting of stockholders).

 Our Board currently consists of the following five members:

 Name

 Age

 Positions

 Class

 Since

 Committee

 Memberships

 A

 CP

 NCG

 SC

 Chief Executive Officer, Chair

 Class III

 2015

 Jeff Gehl

 Class II

 2015

 C

 M

 M

 Mark Jung

 Class III

 2019

 M

 C

 C

 Michael Keller

 Class II

 2018

 M

 M

 C

 M

 Kristin Patrick

 Class I

 2018

 M

 M

 A – Audit Committee

C – Committee Chair

 CP – Compensation Committee

 NCG – Nominating and Governance Committee

 SC – Strategic Committee

 M – Committee Member

 Chief Executive Officer, Chair of the Board

 Ms. Hand has served as our Chief Executive Officer and Chair of our Board since June 2015. From June 2015 to January 13, 2023, Ms. Hand also served as our President. Over the past 20 years, Ms. Hand has served as a market-facing executive with a track record in brand creation and turn- around with notable delivery at the intersection of social impact with consumer trends and technology to create bold offers, drive consumer preference and deliver bottom line results. Prior to joining the Company, from 2009 to 2015, Ms. Hand served as Chief Executive Officer and as a director of Project Frog, a venture-backed firm with a mission to democratize healthy, inspired buildings that are better, faster, greener, and more affordable than traditional construction. From 1998 through 2008, Ms. Hand served in various senior executive positions with BP plc, including Senior Vice President, Global Brand Marketing & Innovation from 2005 to 2008, during which time she led many award-winning integrated marketing campaigns and oversaw the entire brand portfolio of B2C and B2B brands, including BP, Castrol, Arco, am/pm and Aral. Additionally, she served as Chief Executive, Global Liquefied Gas Business Unit with full P&L accountability across 15 countries and 3,000 staff, covering operations, logistics, sales and marketing with over $3 billion in annual revenue. Ms. Hand was recognized by Goldman Sachs - "100 Most Intriguing Entrepreneurs" in 2014, by Fortune - "Top 10 Most Powerful Women Entrepreneurs" in 2013, and Fast Company – "100 Most Creative People" in 2011. Ms. Hand earned a Bachelor of Arts in Economics from DePauw University, an MBA from Northwestern's Kellogg School of Management, and completed executive education at Cambridge, Harvard and Stanford Universities.

 Ms. Hand's extensive background in corporate leadership and her practical experience in brand creation and turn-arounds directly align with the Company's focus, and ideally position her to make substantial contributions to the Board, both as Chair of the Board and as the leader of the Company's executive team.

 Jeff Gehl

 Mr. Gehl has served as a director on our Board since 2015. Mr. Gehl is a co-owner at VLOC LLC. Since 2001, Mr. Gehl has been a Managing Partner of RCP Advisors. Mr. Gehl is responsible for leading RCP's client relations function and covering private equity fund managers in the western United States. He is a General Partner of BKM Capital Partners, L.P. Previously, Mr. Gehl was an Advisor at Troy Capital Partners until 2018. In addition, Mr. Gehl founded and served as Chairman and Chief Executive Officer of MMI, a technical staffing company, and acquired Big Ballot, Inc., a sports marketing firm. He currently serves as a Director of P10 Industries, Inc., a Director of Veritone, Inc. (NASDAQ: VERI) and an Advisory Board member of several of RCP's underlying funds, as well as Accel-KKR and Seidler Equity Partners. Mr. Gehl was the Manager of VLOC. Mr. Gehl received the 1989 "Entrepreneur of the Year" award from University of Southern California's Entrepreneur Program. He obtained a Bachelor of Science in Business Administration from the University of Southern California's Entrepreneur Program.

 Mr. Gehl's wide range of experience in financing, developing and managing high-growth technology companies, as well as his entrepreneurial experience, has considerably broadened the Board's perspective, particularly as the Company engaged in capital raising activities to fund the early stages of its development. Mr. Gehl also serves as our Board-designated "audit committee financial expert," as the Chair of the Board's Audit Committee and as a member of the Nominating and Governance Committee.

 Mark Jung

 Mr. Jung has served as a director on our Board since July 2019. Mr. Jung currently serves as an independent consultant to multiple media and technology companies. Previously, Mr. Jung served on the board of directors of Accela, a leading provider of cloud-based productivity and civic engagement solutions for government, from March 2016 to April 2019. During his tenure on the board of Accela, Mr. Jung also held executive management positions for Accela, including as Chairman and interim Chief Executive Officer from August 2016 to March 2017 and from April 2018 to October 2018, as well as serving as Executive Chairman from March 2017 to April 2018. Prior to Accela, Mr. Jung served as Executive Chairman of OL2, a leading cloud solutions provider for gaming and graphics-rich applications, from May 2013 to March 2015; Samba Safety, a provider of driver risk management solutions from May 2016 to September 2021; and Ready Up, a provider of an esports platform for player networking and team management from March 2019 to February 2023. Currently, Mr. Jung serves as a member of the board of directors of Millennium Trust Company, a leading financial services company offering niche alternative custody solutions to institutions, advisors and individuals; Inmar, a provider of intelligent commerce network solutions; and PocketRN, a telenursing platform and services provider. Mr. Jung graduated with a BS in engineering from Princeton University and received his MBA from Stanford University Graduate School of Business.

 With over three decades of experience serving as a C-suite executive at several prominent companies within the digital entertainment and video game industries, and extensive public and private board member experience, we believe Mr. Jung provides our Board with invaluable knowledge and insight regarding key strategies and best practices for building gaming communities and creating a demand for gaming-related content in the market that can accelerate our audience development and content monetization strategies, and will also share key learnings with Super League gained from his experience navigating the transition of companies from private to public. Mr. Jung also serves as Chair of the Board's Compensation Committee and as a member of the Audit Committee.

 Michael Keller

 Mr. Keller has served as a director on our Board since November 2018. From July 2014 to February 2018, Mr. Keller served as an advisor and board member for Cake Entertainment, an independent entertainment company specializing in the production, distribution, development, financing and brand development of kids' and family properties, as managing director of Tiedemann Wealth Management from March 2008 to December 2013, as co-founder and principal of Natrica USA, LLC from August 2006 to March 2008 and as Senior Vice President of Brown Brothers Harriman Financial Services from July 1996 to June 2006. Mr. Keller earned a Bachelor of Arts in History from Colby College.

 With over 15 years of experience in asset and portfolio management, and experience in helping companies gain exposure for their products and services, including in the entertainment industry, we believe Mr. Keller provides our Board with useful insight that will help us as we allocate resources to expand the utility of our platform and other technologies. Mr. Keller also serves as Chair of the Board's Nominating and Governance Committee and as a member of the Audit Committee and the Compensation Committee.

 Kristin Patrick

 Ms. Patrick has served as a director on our Board since November 2018, and currently serves as Executive Vice President and Chief Marketing Officer of Claire's, a position she has held since March 2021. Previously, Ms. Patrick served as President and Chief Marketing Officer of Eros Innovations, a position she held from January 2019 to March 2021. Prior to her time with Eros Innovations, Ms. Patrick served as Global Chief Marketing Officer of Soda Brand at Pepsico, Inc., a position she held from June 2013 to January 2019. Prior to her time with Pepsico, Inc., Ms. Patrick served as Chief Marketing Officer of Playboy Enterprises, Inc. from November 2011 to June 2013, and as Executive Vice President of Marketing Strategy for William Morris Endeavor from January 2010 to November 2011. Ms. Patrick has also held senior marketing positions at Liz Claiborne's Lucky Brand, Walt Disney Company, Calvin Klein, Revlon and NBC Universal and Gap, Inc. A Brandweek "Next Gen Marketer" and Reggie Award recipient, Ms. Patrick received her Bachelor of Arts from Emerson College and J.D. from Southwestern University.

 As we continue to expand the visibility of our brand, we believe Ms. Patrick will provide instrumental input on our marketing efforts, and will assist the Board and management with initiating marketing programs to enable us to meet our short-term and long-term growth objectives. Ms. Patrick also serves as a member of the Board's Compensation Committee and the Nominating and Governance Committee.

 Executive Officers

 Our executive officers are appointed by the Board and serve at the discretion of the Board, subject to the terms of any employment agreements they may have with the Company. The following is a brief description of the present and past business experience of each of the Company's current executive officers.

 Name

 Age

 Positions

 Chief Executive Officer and Chair

 Clayton Haynes

 Chief Financial Officer

 President and Chief Commercial Officer

 Chief Executive Officer, Chair of the Board

 Please see Ms. Hand's biography in the preceding section under the heading " Directors. "

 Clayton Haynes

 Chief Financial Officer

 Mr. Haynes was appointed as our Chief Financial Officer in August 2018. From 2001 to August 2018, Mr. Haynes served as Chief Financial Officer, Senior Vice President of Finance and Treasurer of Acacia Research Corporation (NASDAQ: ACTG), an industry-leading intellectual property licensing and enforcement and technology investment company. From 1992 to March 2001, Mr. Haynes was employed by PricewaterhouseCoopers LLP, ultimately serving as a Manager in the Audit and Business Advisory Services practice, where he provided and managed full scope financial statement audit and business advisory services for public and private company clients with annual revenues up to $1 billion in a variety of sectors, including manufacturing, distribution, oil and gas, engineering, aerospace and retail. Mr. Haynes received a Bachelor of Arts in Economics and Business/Accounting from the University of California at Los Angeles, an MBA from the University of California at Irvine Paul Merage School of Business and is a Certified Public Accountant (Inactive).

 President and Chief Commercial Officer

 Mr. Edelman oversees the Company's revenue, marketing, content, creative services and business development activities, and has served as our Chief Commercial Officer since July 2017. Mr. Edelman is the owner of PickTheBrain, a leading digital self-improvement business, a board member and marketing committee member of the Epilepsy Foundation of Greater Los Angeles and has over 20 years of experience working in the digital and traditional media and entertainment industries. Since 2001, he has served as an advisor and consultant to numerous digital and media companies, including, amongst others, Nike, Marvel, MTV, Sony Pictures, 20th Century Fox and TV Guide. Prior to joining the Company, from 2014 to 2017, Mr. Edelman served as the Head of Digital Operations and Marketing Solutions at WME-IMG (now Endeavor), where he was responsible for several areas, including digital audience and revenue growth through content, social media and paid customer acquisition across the company's global live events business within sports, fashion, culinary and entertainment verticals; digital marketing services for consumer brands, college athletics programs and talent; and management of direct-to-consumer digital content businesses, including both eSports and Fashion OTT properties. From 2010 to 2013, Mr. Edelman served as the Chief Executive Officer of Glossi (previously ThisNext), an authoring platform enabling individuals to create their own digital magazines. Previously, Mr. Edelman also founded and/or served in executive positions at multiple early-stage digital media companies. Mr. Edelman earned a Bachelor of Arts in Politics from Princeton University.

 Mr. Edelman served as the Company's Chief Commercial Officer during the fiscal year ended December 31, 2022, and was appointed as President on January 13, 2023.

 Role of Board in Risk Oversight Process

 Our Board has responsibility for the oversight of the Company's risk management processes and, either as a whole or through its committees, regularly discusses with management our major risk exposures, their potential impact on our business, and the steps we take to manage them. The risk oversight process includes receiving regular reports from Board committees and members of senior management to enable our Board to understand our risk identification, risk management and risk mitigation strategies with respect to areas of potential material risk, including operations, finance, legal, regulatory, strategic and reputational risk. Cybersecurity risk is a key consideration in our operational risk management capabilities, and we continuously strive to implement best practices to mitigate risk. Given the nature of our operations and business, cybersecurity risk may manifest itself through various business activities and channels and is thus considered an enterprise-wide risk which is subject to control and monitoring at various levels of management throughout the business. Our Board will oversee and review reports on significant matters of corporate security, including cybersecurity. In addition, we maintain specific cyber insurance through our corporate insurance program, the adequacy of which is subject to review and oversight by our Board.

 Our Audit Committee reviews information regarding liquidity and operations and oversees our management of financial risks. Periodically, our Audit Committee reviews our policies with respect to risk assessment, risk management, loss prevention and regulatory compliance. Oversight by the Audit Committee includes direct communication with our external auditors, and discussions with management regarding significant risk exposures and the actions management has taken to limit, monitor or control such exposures. Our Compensation Committee is responsible for assessing whether any of our compensation policies or programs has the potential to encourage excessive risk-taking. Matters of significant strategic risk are considered by our Board as a whole.

 Board Committees and Independence

 Our Board has established the following three standing committees: Audit Committee, Compensation Committee, Nominating and Governance Committee, and Strategic Committee. Our Board has adopted written charters for each of these committees, copies of which are available under the Corporate Governance section of our website at

 Audit Committee

 Our Audit Committee is currently comprised of Jeff Gehl, who serves as the Audit Committee Chair, Michael Keller and Mark Jung, each of whom are independent directors as determined in accordance with the rules of the Nasdaq Stock Market. The Audit Committee's main function is to oversee our accounting and financial reporting processes and the audits of our financial statements. The Audit Committee met four times during the year ended December 31, 2023. Pursuant to its charter, the Audit Committee's responsibilities include, among other things:

 appointing, compensating, retaining, evaluating, terminating, and overseeing our independent registered public accounting firm;

 reviewing with our independent registered public accounting firm the scope and results of their audit;

 approving the audit and non-audit services to be performed by our independent registered public accounting firm;

 evaluating the qualifications, independence and performance of our independent registered public accounting firm;

 reviewing the design, implementation, adequacy and effectiveness of our internal accounting controls and our critical accounting policies;

 reviewing and discussing our annual audited financial statements and quarterly financial statements with management and the independent auditor, including our disclosures under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q prior to the release of such information;

 reviewing and reassessing the adequacy of the Audit Committee's charter, at least annually;

 reviewing, overseeing and monitoring the integrity of our financial statements and our compliance with legal and regulatory requirements as they relate to financial statements or accounting matters;

 reviewing on a periodic basis, or as appropriate, our policies with respect to risk assessment and management, and our plan to monitor, control and minimize such risks and exposures, with the independent public accountants, internal auditors, and management;

 reviewing any earnings announcements and other public announcements regarding our results of operations;

 preparing the report that the Securities and Exchange Commission (the " SEC ") requires in our annual proxy statement, upon becoming subject to the Securities Exchange Act of 1934, as amended ("Exchange Act");

 complying with all preapproval requirements of Section 10A(i) of the Exchange Act and all SEC rules relating to the administration by the Audit Committee of the auditor engagement to the extent necessary to maintain the independence of the auditor as set forth in 17 CFR Part 210.2-01(c)(7);

 administering the policies and procedures for the review, approval and/or ratification of related party transactions involving the Company or any of its subsidiaries; and

 making other recommendations to the Board on such matters, within the scope of its function, as may come to its attention and which in its discretion warrant consideration by the Board.

 Our Board has affirmatively determined that all members of our Audit Committee meet the requirements for independence and financial literacy under the applicable rules and regulations of the SEC and the Nasdaq Stock Market. Our Board has determined that Mr. Gehl qualifies as an "audit committee financial expert" as defined by applicable SEC rules and has the requisite financial sophistication as defined under the applicable Nasdaq Stock Market rules and regulations. The Audit Committee operates under a written charter that satisfies the applicable standards of the SEC and the Nasdaq Stock Market.

 Compensation Committee

 Our Compensation Committee is currently comprised of Mark Jung, who serves as the Compensation Committee Chair, Kristin Patrick and Michael Keller, each of whom are independent directors as determined in accordance with the rules of the Nasdaq Stock Market. The Compensation Committee's main function is to assist our Board in the discharge of its responsibilities related to the compensation of our executive officers. The Compensation Committee met five times during the year ended December 31, 2023. Pursuant to its charter, the Compensation Committee is primarily responsible for, among other things:

 reviewing our compensation programs and arrangements applicable to our executive officers, including all employment-related agreements or arrangements under which compensatory benefits are awarded or paid to, or earned or received by, our executive officers, and advising management and the Board regarding such programs and arrangements;

 reviewing and recommending to the Board the goals and objectives relevant to CEO compensation, evaluating CEO performance in light of such goals and objectives, and determining CEO compensation based on the evaluation;

 retaining, reviewing and assessing the independence of compensation advisers;

 monitoring issues associated with CEO succession and management development;

 overseeing and administering our equity incentive plans;

 reviewing and making recommendations to our Board with respect to compensation of our executive officers and senior management;

 reviewing and making recommendations to our Board with respect to director compensation;

 endeavoring to ensure that our executive compensation programs are reasonable and appropriate, meet their stated purpose (which, among other things, includes rewarding and creating incentives for individuals and Company performance), and effectively serve the interests of the Company and our stockholders; and

 upon becoming subject to the Exchange Act, preparing and approving an annual report on executive compensation and such other statements to stockholders which are required by the SEC and other governmental bodies.

 Nominating and Governance Committee

 Our Nominating and Governance Committee is currently comprised of Michael Keller, who serves as the Nominating and Governance Committee Chair, Kristin Patrick and Jeff Gehl, each of whom are independent directors as determined in accordance with the rules of the Nasdaq Stock Market. The Nominating and Governance Committee met four times during the year ended December 31, 2023. Pursuant to its charter, the Nominating and Governance Committee is primarily responsible for, among other things:

 assisting the Board in identifying qualified candidates to become directors, and recommending to our Board nominees for election at the next annual meeting of stockholders;

 leading the Board in its annual review of the Board's performance;

 recommending to the Board nominees for each Board committee and each committee Chair;

 reviewing and overseeing matters related to the independence of Board and committee members, in light of the independence requirement of the Nasdaq Stock Market and the rules and regulations of the SEC;

 overseeing the process of succession planning of our CEO and other executive officers; and

 developing and recommending to the Board corporate governance guidelines, including our Code of Business Conduct, applicable to the Company.

 Strategic Committee

 Our Strategic Committee was formed on October 1, 2023 and is currently comprised of Mark Jung (Chairman), and Michael Keller and Jeff Gehl, each of which are members of the committee. The Strategic Committee met three times during the year ended December 31, 2023. Pursuant to its charter, the Strategic Committee is primarily responsible for reviewing and advising on strategies submitted by management relating to financing options, M&A opportunities, and strategic options, among other things.

 Board Qualifications and Experience

 Our Nominating and Governance Committee is responsible for reviewing with the Board, on an annual basis, the appropriate characteristics, skills and experience required for the Board as a whole and its individual members. In evaluating the suitability of individual candidates (both new candidates and current members), the Nominating and Governance Committee, in recommending candidates for election, and the Board, in approving (and, in the case of vacancies, appointing) such candidates, will take into account many factors, including the following:

 personal and professional integrity, ethics and values;

 experience in corporate management, such as serving as an officer or former officer of a publicly held company;

 experience as a board member or executive officer of another publicly held company;

 strong finance experience;

 diversity of expertise and experience in substantive matters pertaining to our business relative to other board members;

 diversity of background and perspective, including, but not limited to, with respect to age, gender, race, place of residence and specialized experience;

 experience relevant to our business industry and with relevant social policy concerns; and

 relevant academic expertise or other proficiency in an area of our business operations.

 Currently, our Board evaluates each individual in the context of the Board as a whole, with the objective of assembling a group that can best maximize the success of the business and represent stockholder interests through the exercise of sound judgment using its diversity of experience in these various areas.

 Board Diversity

 Our five directors come from diverse backgrounds. We comply with Nasdaq Listing Rule 5605(f), which requires Nasdaq-listed companies to have at least two diverse directors, including one self-identified woman and one individual who self-identifies as an underrepresented minority or as LGBTQ+.

 The table below provides certain highlights of the composition of our Board members as of April 29, 2024. Each of the categories listed in the table below has the meaning as it is used in Nasdaq Listing Rule 5605(f).

 Board Diversity Matrix

 (As of April 29, 2024)

 Total Number of Directors

 Female

 Male

 Non-Binary

 Did Not

 Disclose Gender

 Gender Identity

 Directors

 —

 —

 Demographic Background

 African American or Black

 —

 —

 —

 —

 Alaskan Native or Native American

 —

 —

 —

 —

 Asian

 —

 —

 —

 Hispanic or Latinx

 —

 —

 —

 —

 Native Hawaiian or Pacific Islander

 —

 —

 —

 —

 White

 —

 —

 Two or More Races or Ethnicities

 —

 —

 —

 —

 LGBTQ+

 —

 Did Not Disclose Demographic Background

 5*

 * Did not disclose with respect to LGBTQ+ background.

 Compensation Committee Interlocks and Insider Participation

 At no time have any of the members of our Compensation Committee been one of our officers or employees. None of our executive officers currently serves, or in the past year has served, as a member of the board of directors or Compensation Committee of any other entity that has one or more executive officers on our Board of Directors or Compensation Committee.

 Our Board ' s Leadership Structure

 Our Board has discretion to determine whether to separate or combine the roles of Chair and Chief Executive Officer. Ms. Hand has served in both roles since 2015, and our Board continues to believe that her combined role is most advantageous to the Company and its stockholders. Ms. Hand possesses in-depth knowledge of the issues, opportunities and risks facing us, as well as our business and our industry. Ms. Hand is best positioned to fulfill the Chair's responsibility to develop meeting agendas that focus the Board's time and attention on critical matters and to facilitate constructive dialogue among Board members on strategic issues.

 In addition to Ms. Hand's leadership, the Board maintains effective independent oversight through a number of governance practices, including open and direct communication with management, input on meeting agendas, and regular executive sessions.

 Code of Business Conduct and Ethics

 We have adopted a Code of Business Conduct and Ethics applicable to our employees, officers and directors. We provide our Code of Business Conduct and Ethics under the Corporate Governance section of our website at  We intend to disclose any future amendments to certain provisions of our Code of Business Conduct and Ethics, or waivers of these provisions, on our website or in our filings with the SEC under the Exchange Act.

 Limitation of Liability and Indemnification

 Our Charter and Bylaws provide the indemnification of our directors and officers to the fullest extent permitted under the Delaware General Corporation Law (" DGCL "). In addition, the Charter provides that our directors shall not be personally liable to us or our shareholders for monetary damages for breach of fiduciary duty as a director and that if the DGCL is amended to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of our directors shall be eliminated or limited to the fullest extent permitted by the DGCL, as so amended.

 As permitted by the DGCL, we have entered into or plan to enter into separate indemnification agreements with each of our directors and certain of our officers that require us, among other things, to indemnify them against certain liabilities which may arise by reason of their status as directors, officers or certain other employees. We have obtained and expect to maintain insurance policies under which our directors and officers are insured, within the limits and subject to the limitations of those policies, against certain expenses in connection with the defense of, and certain liabilities that might be imposed as a result of, actions, suits or proceedings to which they are parties by reason of being or having been directors or officers. The coverage provided by these policies may apply whether or not we would have the power to indemnify such person against such liability under the provisions of the DGCL.

 We believe that these provisions and agreements are necessary to attract and retain qualified persons as our officers and directors. At present, there is no pending litigation or proceeding involving our directors or officers for whom indemnification is required or permitted, and we are not aware of any threatened litigation or proceeding that may result in a claim for indemnification.

 Stockholder Communications

 If you wish to communicate with the Board of Directors, you may send your communication in writing to:

 Super League Enterprise, Inc.

 2912 Colorado Avenue, Suite #203

 Santa Monica, California 90404

 Attn: Corporate Secretary

 You must include your name and address in the written communication and indicate whether you are a stockholder of the Company. Our Corporate Secretary will review any communication received from a stockholder, and all material and appropriate communications from stockholders will be forwarded to the appropriate director or directors or committee of the Board of Directors based on the subject matter.

 Section 16(a) Beneficial Ownership Reporting Compliances

 Section 16(a) of the Exchange Act requires our officers, directors, and persons who beneficially own more than 10% of our common stock to file reports of ownership and changes in ownership with the SEC. Officers, directors, and greater-than-ten-percent shareholders are also required by the SEC to furnish us with copies of all Section 16(a) forms that they file.

 Based solely on a review of copies of such reports furnished to our Company and representation that no other reports were required during the fiscal year ended December 31, 2023, we believe that all persons subject to the reporting requirements pursuant to Section 16(a) filed the required reports on a timely basis with the SEC, with the exception of one late Form 4 for each of Mr. Gehl, Mr. Jung, Mr. Keller and Ms. Patrick, each reporting one transaction.

 ITEM 11. EXECUTIVE COMPENSATION

 Summary Compensation Table

 We are an emerging growth company for purposes of the SEC's executive compensation disclosure rules. In accordance with such rules, we are required to provide a Summary Compensation Table and an Outstanding Equity Awards at Fiscal Year End Table, as well as limited narrative disclosures regarding executive compensation for our last two completed fiscal years. Further, our reporting obligations extend only to our "named executive officers," who are those individuals serving as our principal executive officer and our two other most highly compensated executive officers who were serving as executive officers at December 31, 2023, the end of the last completed fiscal year (the " Named Executive Officers ").

 We have identified Ann Hand, Matt Edelman, and David Steigelfest as our Named Executive Officers for the year ended December 31, 2023. Our Named Executive Officers for our fiscal year ending December 31, 2024 are subject to change, as we may hire or appoint new executive officers.

 For the fiscal years ended December 31, 2023 and 2022, compensation for our Named Executive Officers was as follows:

 Name and principal position

 Year

 Salary ($)

 Bonus ($)

 Stock

 Awards

 ($) (1)

 Option

 Awards

 ($) (1)

 Total ($)

 2023

 $

 425,000

 $

 222,000

 (2)

 $

 360,000

 $

 382,000

 $

 1,389,000

 Chief Executive Officer (4)

 2022

 $

 425,000

 $

 140,000

 (3)

 $

 1,627,200

 $

 -

 $

 2,192,200

 2023

 $

 330,000

 $

 123,000

 (2)

 $

 $

 154,000

 $

 667,000

 Chief Commercial Officer, President (4)

 2022

 $

 330,000

 $

 100,000

 (3)

 $

 336,200

 $

 -

 $

 766,200

 David Steigelfest

 2023

 $

 330,000

 $

 123,000

 (2)

 $

 $

 103,000

 $

 616,000

 Former Chief Platform Officer, Corporate Secretary and Director (5)

 2022

 $

 330,000

 $

 40,000

 (3)

 $

 336,200

 $

 -

 $

 706,200

 (1)

 This column represents the grant date fair value calculated in accordance with the FASB's Accounting Standards Codification Topic 718, Compensation – Stock Compensation (" ASC 718 "). Compensation expense for stock-based awards is measured at the grant date, based on the estimated fair value of the award, and is recognized as an expense, typically on a straight-line basis over the employee's requisite service period (generally the vesting period of the equity award) which is generally two to four years. Compensation expense for awards with performance conditions that affect vesting is recorded only for those awards expected to vest or when the performance criteria are met. The fair value of restricted stock and restricted stock unit awards is determined by the product of the number of shares or units granted and the grant date market price of the underlying common stock. The fair value of stock option and common stock purchase warrant awards is estimated on the date of grant utilizing the Black-Scholes-Merton option pricing model. The Company utilizes the simplified method for estimating the expected term for options granted to employees due to the lack of available or sufficient historical exercise data for the Company for the applicable options terms. The Company accounts for forfeitures of awards as they occur. Estimates of expected volatility of the underlying common stock for the expected term of the stock option used in the Black-Scholes-Merton option pricing model are determined by reference to historical volatilities of the Company's common stock and historical volatilities of similar companies.

 A condition affecting the exercisability or other pertinent factors used in determining the fair value of an award that is based on an entity achieving a specified share price constitutes a market condition pursuant to ASC 718. A market condition is reflected in the grant-date fair value of an award, and therefore, a Monte Carlo simulation model is utilized to determine the estimated fair value of the equity-based award. Compensation cost is recognized for awards with a market condition, provided the requisite service period is satisfied, regardless of whether the market condition is ever satisfied.

 Cancellation of an existing equity-classified award along with a concurrent grant of a replacement award is accounted for as a modification under ASC 718 Total compensation cost to be recognized in connection with a modification and concurrent grant of a replacement award is equal to the original grant date fair value plus any incremental fair value, calculated as the excess of the fair value of the replacement award over the fair value of the original awards on the cancellation date. Any incremental compensation cost related to vested awards is recognized immediately on the modification date. Any incremental compensation cost related to unvested awards is recognized prospectively over the remaining service period, in addition to the remaining unrecognized grant date fair value.

 The applicable amounts included in the table above do not represent the actual value, if any, that may be realized by the Named Executive Officers.

 (2)

 Includes executive bonus amounts earned in connection with the 2023 executive bonus program approved at the discretion of the Board.

 (3)

 Includes executive bonus amounts earned in connection with the 2022 executive bonus program approved at the discretion of the Board.

 (4)

 Ms. Hand served as the Company's President during the year ended December 31, 2022 until Mr. Edelman's appointment as President on January 13, 2023.

 (5)

 Mr. Steigelfest served as the Company's Chief Platform Officer, Corporate Secretary and as a member of the Board until Mr. Steigelfest concluded his tenure as an officer and director of the Company effective April 1, 2024.

 Elements of Compensation

 Our executive compensation program consisted of the following components of compensation during the years ended December 31, 2023 and 2022:

 Base Salary

 Each of our executive officers receives a base salary for the expertise, skills, knowledge and experience he or she offers to our management team. The base salary of each of our executive officers is re-evaluated annually, and may be adjusted to reflect:

 the nature, responsibilities, and duties of the officer's position;

 the officer's expertise, demonstrated leadership ability, and prior performance;

 the officer's salary history and total compensation, including annual equity incentive awards; and

 the competitiveness of the officer's base salary.

 Executive Bonus

 The Compensation Committee assesses the level of the executive officer's achievement of meeting individual goals, as well as that executive officer's contribution towards our business objectives. Bonus amounts depend on the level of achievement of individual performance goals, with a target bonus generally set as a percentage of base salary and based on the achievement of pre-determined milestones. For the year ended December 31, 2023, each of our Named Executive Officers was awarded a bonus by the Compensation Committee in the amount set forth in the Summary Compensation Table above.

 Equity Incentive Awards

 We believe that to attract and retain management, key employees and non-management directors, the compensation paid to these persons should include, in addition to base salary, annual equity incentives. Our Compensation Committee determines the amount and terms of equity-based compensation granted to each individual. In determining whether to grant certain equity awards to our executive officers, the Compensation Committee assesses the level of the executive officer's achievement of meeting individual goals, as well as the executive officer's contribution towards goals of the Company. All equity awards issued to our Named Executive Officers during the years ended December 31, 2023 and 2022 were issued under our 2014 Amended and Restated Employee Stock Option and Incentive Plan (the " 2014 Plan ").

 Employment Agreements and Potential Payments upon Termination or Change of Control

 Employment Agreements with Named Executive Officers

 On January 5, 2022, we entered into an employment agreement with Ms. Hand, which provides that Ms. Hand shall continue to serve as our Chief Executive Officer, President and Chair of the Board. The term of the agreement is through December 31, 2024 (the " Hand Initial Term "), and provided that neither party provides 30 days' notice prior to the expiration of the Hand Initial Term or a Renewal Term (defined below) of their intent to allow the agreement to expire and thereby terminate, the agreement shall continue in effect for successive periods of one year (each, a " Hand Renewal Term "). The employment agreement with Ms. Hand provides for a base annual salary of $425,000, which amount may be increased annually, at the sole discretion of the Board. Additionally, Ms. Hand shall be entitled to (i) an annual cash bonus, the amount of which shall be determined by our Compensation Committee, (ii) health insurance for herself and her dependents, for which the Company shall pay 90% of the premiums, (iii) reimbursement for all reasonable business expenses, and (iv) participate in the Company's annual variable compensation plan approved by the Board. As additional compensation, Ms. Hand was issued a grant of 45,000 performance stock units (" PSUs ") (the " Hand PSUs "), with equal increments of 20% of the Hand PSUs vesting upon the 60-day volume weighted average price of the Company's Common Stock (the " 60-Day VWAP ") reaching (A) $16.00 per share, (B) $20.00 per share, (C) $24.00 per share, (D) $28.00 per share, and (E) $32.00 per share. Ms. Hand has been granted the Hand PSUs in lieu of participating in the equity-grant component, granted pursuant to the Plan, of the Company's annual executive compensation plan during the Hand Initial Term.

 On April 30, 2023, the Board approved the cancellation of 45,000 PSUs previously granted to Ms. Hand under the 2014 Plan. In exchange for the cancelled PSUs, Ms. Hand was granted an award of 45,000 PSUs, with equal increments of 20% vesting upon the 60-Day VWAP reach each of (A) $16.00 per share, (B) $20.00 per share, (C) $24.00 per share, (D) $28.00 per share, and (E) $32.00 per share, in each case, as quoted on the Nasdaq Capital Market. The modified PSUs have a five-year term from the date of approval and modification.

 Ms. Hand's employment agreement is terminable by either party at any time. In the event of termination by us without Cause or by Ms. Hand for Good Reason, as those terms are defined in the agreement, she shall receive a severance package consisting of the following: (i) all accrued obligations as of the termination date; (ii) a cash payment equal to the greater of (A) her base annual salary for 18 months, or (B) the remaining payments due for the term of the agreement; and (iii) the immediate vesting of all options, RSUs and PSUs, that utilize time-based vesting, set to vest over the 18 month period from and after the Termination Date; and (iv) 13,500 of the Hand PSUs shall immediately vest. In the event of termination by us with Cause or by Ms. Hand without Good Reason, Ms. Hand shall be entitled to all salary and benefits accrued prior to the termination date, and nothing else; provided, however, that Ms. Hand shall be entitled to exercise that portion of the Hand Warrant that has vested as of the effective date of the termination until the Hand Warrant's expiration.

 Ms. Hand's employment agreement replaces a prior employment agreement entered into by the Company and Ms. Hand on June 16, 2017, as amended and restated on November 15, 2018.

 Ms. Hand currently serves as the Company's Chief Executive Officer and Chair of the Board, and served as President until January 13, 2023, when Mr. Edelman was appointed President of the Company.

 On January 5, 2022, we entered into an employment agreement with Mr. Edelman, which provides that Mr. Edelman shall continue to serve as our Chief Commercial Officer. The initial term of the agreement is three years (the " Edelman Initial Term "), and provided that neither party provides 30 days' notice prior to the expiration of the Edelman Initial Term or a Edelman Renewal Term of their intent to allow the agreement to expire and thereby terminate, the agreement shall continue in effect for successive periods of one year (each, a " Edelman Renewal Term "). The employment agreement with Mr. Edelman provides for a base annual salary of $330,000, which amount may be increased annually, at the sole discretion of the Board. Additionally, Mr. Edelman shall be entitled to (i) health insurance for himself and his dependents, for which the Company shall pay 50% of the premiums, (ii) reimbursement for all reasonable business expenses, and (iv) annual variable compensation plan approved by the Board. As additional compensation, Mr. Edelman was issued a grant of 7,500 performance stock units (" PSUs ") (the " Edelman PSUs "), with equal increments of 20% of the Edelman PSUs vesting upon the 60-Day VWAP reaching (A) $16.00 per share, (B) $20.00 per share, (C) $24.00 per share, (D) $28.00 per share, and (E) $32.00 per share.

 On April 30, 2023, the Board approved the cancellation of 7,500 PSUs previously granted to Mr. Edelman under the 2014 Plan. In exchange for the cancelled PSUs, Mr. Edelman was granted an award of 7,500 PSUs, with equal increments of 20% vesting upon the 60-Day VWAP reach each of (A) $16.00 per share, (B) $20.00 per share, (C) $24.00 per share, (D) $28.00 per share, and (E) $32.00 per share, in each case, as quoted on the Nasdaq Capital Market. The modified PSUs have a five-year term from the date of approval and modification.

 In the event the Company terminates Mr. Edelman without Cause, or Mr. Edelman resigns for Good Reason (each as defined in the agreement), Mr. Edelman will be entitled to a cash payment equal to six months of the Edelman Base Pay from the date of such termination. In the event the Company terminates Mr. Edelman for Cause, or, Mr. Edelman resigns without Good Reason, Mr. Edelman shall only be entitled to salary and benefits accrued prior to such date, provided that Mr. Edelman shall retain the right for 90 days from the date of such termination or resignation to exercise any Awards which are vested as of such date. In the event of a Change-In-Control (as defined in the agreement), the vesting of all Awards granted to Mr. Edelman shall accelerate, and all such Awards shall be considered fully vested immediately prior to such Change-In-Control.

 Mr. Edelman's employment agreement replaces a prior employment agreement entered into by the Company and Mr. Edelman on November 1, 2018.

 On January 13, 2023, Mr. Edelman was appointed as President of the Company in addition to his ongoing role as Chief Commercial Officer.

 David Steigelfest

 On January 5, 2022, we entered into an employment agreement with Mr. Steigelfest, which provided that Mr. Steigelfest would continue to serve as our Chief Platform Officer. The initial term of the agreement was three years (the " Steigelfest Initial Term "), and provided that neither party provides 30 days' notice prior to the expiration of the Steigelfest Initial Term or a Steigelfest Renewal Term of their intent to allow the agreement to expire and thereby terminate, the agreement would continue in effect for successive periods of one year (each, a " Steigelfest Renewal Term "). The employment agreement with Mr. Steigelfest provided for a base annual salary of $330,000, which amount may be increased annually, at the sole discretion of the Board. Additionally, Mr. Steigelfest was entitled to (i) health insurance for himself and his dependents, for which the Company shall pay 50% of the premiums, (ii) reimbursement for all reasonable business expenses, and (iv) annual variable compensation plan approved by the Board. As additional compensation, Mr. Steigelfest was issued a grant of 7,500 performance stock units (" PSUs ") (the " Steigelfest PSUs "), with equal increments of 20% of the Steigelfest PSUs vesting upon the 60-Day VWAP reaching (A) $16.00 per share, (B) $20.00 per share, (C) $24.00 per share, (D) $28.00 per share, and (E) $32.00 per share.

 On April 30, 2023, the Board approved the cancellation of 7,500 PSUs previously granted to Mr. Steigelfest under the 2014 Plan. In exchange for the cancelled PSUs, Mr. Steigelfest was granted an award of 7,500 PSUs, with equal increments of 20% vesting upon the 60-Day VWAP reach each of (A) $16.00 per share, (B) $20.00 per share, (C) $24.00 per share, (D) $28.00 per share, and (E) $32.00 per share, in each case, as quoted on the Nasdaq Capital Market. The modified PSUs have a five-year term from the date of approval and modification.

 In the event the Company terminated Mr. Steigelfest without Cause, or Mr. Steigelfest resigned for Good Reason (each as defined in the agreement), Mr. Steigelfest was entitled to a cash payment equal to 12 months of the Steigelfest Base Pay from the date of such termination. In the event the Company terminated Mr. Steigelfest for Cause, or, Mr. Steigelfest resigned without Good Reason, Mr. Steigelfest was only be entitled to salary and benefits accrued prior to such date, provided that Mr. Steigelfest retains the right for 90 days from the date of such termination or resignation to exercise any Awards which are vested as of such date. In the event of a Change-In-Control (as defined in the agreement), the vesting of all Awards granted to Mr. Steigelfest shall accelerate, and all such Awards shall be considered fully vested immediately prior to such Change-In-Control.

 Mr. Steigelfest's employment agreement replaces a prior employment agreement entered into by the Company and Mr. Steigelfest on October 31, 2016, as amended and restated on November 1, 2018.

 On March 22, 2024, the Company and Mr. Steigelfest agreed that Mr. Steigelfest would conclude his tenure as an officer and director of the Company effective April 1, 2024. Pursuant to the terms of Mr. Steigelfest's employment agreement, as described above, Mr. Steigelfest is entitled to a cash payment equal to 12 months of the Steigelfest Base Pay from the date of termination.

 Employment Agreement with Other Executive Officers

 Michael Wann

 On January 5, 2022, we entered into an executive employment agreement with Mr. Wann to serve as our Chief Strategy Officer and Executive Vice President of Sales, which served as an amendment and restatement of the existing executive employment agreement of Mr. Wann dated June 1, 2021.

 The agreement provided that Mr. Wann would continue to serve for a term beginning on the Effective Date, and concluding on the third anniversary thereof, and that Mr. Wann would be entitled to (i) an annual base salary of $330,000, which may be increased annually at the sole discretion of the Company's Board; (ii) participation in the Company's annual variable compensation plan approved by the Board; (iii) in conjunction with Mr. Wann's prior executive employment agreement executed on June 1, 2021, Mr. Wann was issued a grant, pursuant to the 2014 Plan, of 6,000 non-qualified options to purchase the Company's Common Stock (" Options "), exercisable for a period of 10 years at the closing trading price as listed on the Nasdaq Capital Market as of the June 1, 2021, with 25% of the Options vesting an the one-year anniversary of June 1, 2021, and the remaining Options vesting in 36 equal monthly installments thereafter; (iv) participate in the Company's health insurance plan offered by the Company to its employees; (v) participate in the Company's 401(k) Plan; and (vi) reimbursement for all reasonable business expenses.

 On January 13, 2023, Mr. Wann stepped down from his positions as director and Chief Strategy Officer of the Company and Executive Vice President of Sales.

 In connection with Mr. Wann stepping down from his roles in the Company, the Company and Mr. Wann entered into a Transition Letter Agreement (the " Agreement "), pursuant to which Mr. Wann will remain a full-time strategic advisor of the Company from the Effective Date through July 14, 2023 (the " Term "). During the Term, Mr. Wann: (i) may not be terminated by the Company from his role as a strategic advisor for any reason; (ii) will continue to be paid on a semi-monthly basis at his current salary of $330,000 per year (the " Annual Salary "); (iii) will continue to have access to all employee benefits and all outstanding options and restricted stock units (collectively, " Awards ") granted prior to the Effective Date will continue to vest, with no changes to the terms of the Awards under his existing employment agreement with the Company, dated January 5, 2022 (the " Employment Agreement "); and (iv) will be eligible to participate in the 2022 SLG executive bonus plan. In the event Mr. Wann finds other employment during the Term, Mr. Wann will be entitled to the remainder of his Annual Salary not previously paid to him during the Term, payable in a lump sum payment due within 30 days of Mr. Wann's termination of his employment with the Company. In exchange for being released from Mr. Wann's intellectual property assignment agreement for future intellectual property developed by him, Mr. Wann will continue to be bound by the confidentiality and non-solicitation provisions of the Employment Agreement. With exception to the sections referenced in the Agreement, the Agreement replaces and supersedes the Employment Agreement.

 Clayton Haynes

 On January 5, 2022 (the " Effective Date ") we entered into an executive employment agreement with Clayton Haynes (the " Haynes Employment Agreement "), which provides that Mr. Haynes will continue to serve as the Company's Chief Financial Officer, for a term beginning on the Effective Date, and concluding on the third anniversary thereof (the " Haynes Initial Term "), and, provided that neither party provides 30 days' notice prior to the expiration of the Haynes Initial Term or a Haynes Renewal Term (defined below) of their intent to allow the Haynes Employment Agreement to expire and thereby terminate, the Haynes Employment Agreement shall continue in effect for successive periods of one year (each, a " Haynes Renewal Term ").

 Pursuant to the Haynes Employment Agreement, Mr. Haynes will be entitled to: (i) an annual base salary of $310,000, which may be increased annually at the sole discretion of the Company's Board (the " Haynes Base Salary "); (ii) a grant, pursuant to the 2014 Plan, of 7,500 Performance Stock Units (" PSUs ") (the " Haynes PSUs "), with equal increments of 20% of the Haynes PSUs vesting upon the 60-Day VWAP reaching each of (A) $16.00 per share, (B) $20.00 per share, (C) $24.00 per share, (D) $28.00 per share, and (E) $32.00 per share; (iii) participate in the Company's annual variable compensation plan approved by the Board; (iv) participate in the Company's health insurance plan offered by the Company to its employees; (v) participate in the Company's 401(k) Plan; and (vi) reimbursement for all reasonable business expenses.

 On April 30, 2023, the Board approved the cancellation of 7,500 PSUs previously granted to Mr. Haynes under the 2014 Plan. In exchange for the cancelled PSUs, Mr. Haynes was granted an award of 7,500 PSUs, with equal increments of 20% vesting upon the 60-Day VWAP reach each of (A) $16.00 per share, (B) $20.00 per share, (C) $24.00 per share, (D) $28.00 per share, and (E) $32.00 per share, in each case, as quoted on the Nasdaq Capital Market. The modified PSUs have a five-year term from the date of approval and modification.

 In the event: (i) the Company terminates Mr. Haynes without Cause, or Mr. Haynes resigns for Good Reason, Mr. Haynes will be entitled to a cash payment equal to six months of the Haynes Base Salary from the date of such termination; or (ii) the Company terminates Mr. Haynes for Cause, or, Mr. Haynes resigns without Good Reason, Mr. Haynes shall be only be entitled to salary and benefits accrued prior to such date, provided that Mr. Haynes shall retain the right for 90 days from the date of such termination or resignation to exercise any Awards which are vested as of such date.

 In the event of a Change-In-Control, the vesting of all equity awards granted to Mr. Haynes shall accelerate, and all such equity awards shall be considered fully vested immediately prior to such Change-In-Control.

 Outstanding Equity Awards at Fiscal Year-End

 The following table discloses outstanding equity awards held by each of the Named Executive Officers as of December 31, 2023:

 Option/Warrant Awards

 Stock Awards

 Name

 Grant

 Date

 securities

 underlying

 unexercised

 options/

 warrants

 (#)

 Exercisable

 securities

 underlying

 unexercised

 options/

 warrants

 (#)

 Unexercisable

 Option/

 warrant

 Exercise

 price($)

 Option/

 warrant
 expiration
 date

 Number

 of shares

 or units

 of stock

 that

 have not

 vested(#)

 Market

 value of

 shares or

 units of

 stock

 that have

 not

 vested(#)

 4/30/2023

 61,112

 (1)

 88,888

 $

 9.80

 4/27/2033

 5/27/2021

 1,177

 (6)

 $

 1,789

 4/30/2023

 24,448

 (2)

 35,552

 $

 9.80

 4/27/2033

 5/27/2021

 (6)

 $

 6/16/22

 2,167

 (3)

 $

 3,294

 David Steigelfest

 10/16/14

 5,833

 -

 $

 6.00

 10/16/24

 4/30/2023

 8,151

 (4)

 11,849

 $

 9.80

 4/27/2033

 5/27/2021

 (6)

 $

 6/16/22

 2,167

 (5)

 $

 3,294

 (1)

 On April 30, 2023, Ms. Hand cancelled certain stock options with original grant dates of June 5, 2015, June 16, 2017, October 31, 2018, February 11, 2020, August 5, 2020, and May 27, 2021, previously granted to Ms. Hand under the 2014 Plan, pursuant to a Board approved exchange. In exchange for the cancelled options, Ms. Hand was granted options to purchase 150,000 shares of the Issuer's common stock under the 2014 Plan, which options vested one-third on April 30, 2023, with the remainder vesting monthly over the thirty-six month period thereafter.

 (2)

 On April 30, 2023, Mr. Edelman cancelled certain stock options with original grant dates of February 11, 2020, August 5, 2020, and May 27, 2021, previously granted to Mr. Edelman under the 2014 Plan, pursuant to a Board approved exchange. In exchange for the cancelled options, Mr. Edelman was granted options to purchase 60,000 shares of the Issuer's common stock under the 2014 Plan, which options vested one-third on April 30, 2023, with the remainder vesting monthly over the thirty-six month period thereafter.

 (3)

 Represents a grant of 3,250 RSUs granted on June 16, 2022, which vests in three equal annual installments beginning on February 1, 2022.

 (4)

 On April 30, 2023, Mr. Steigelfest cancelled certain stock options with original grant dates of October 16, December 21, 2015, February 11, 2020, August 5, 2020 and May 27, 2021, previously granted to Mr. Steigelfest under the 2014 Plan, pursuant to a Board approved exchange. In exchange for the cancelled options, Mr. Steigelfest was granted options to purchase 20,000 shares of the Issuer's common stock under the 2014 Plan, which options vested one-third on April 30, 2023, with the remainder vesting monthly over the thirty-six month period thereafter.

 (5)

 Represents a grant of 3,250 RSUs granted on June 16, 2022, which vests in three equal annual installments beginning on February 1, 2022.

 (6)

 Represents individual grants of 3,530 RSUs, 1,077 RSUs and 1,128 RSUs, granted to Ms. Hand, Mr. Edelman and Mr. Steigelfest, respectively, on May 27, 2021, each of which vests in three equal annual installments beginning on February 1, 2021.

 Securities Authorized for Issuance under Equity Compensation Plans

 The following table provides a summary of the securities authorized for issuance under our equity compensation plans as of December 31, 2023.

 Plan category

 securities to

 be issued

 upon exercise

 of outstanding

 options,

 warrants and

 rights

 Weighted-

 average

 exercise price

 of outstanding

 options,

 warrants and

 rights

 securities

 remaining

 available for

 future

 issuance

 under equity

 compensation

 plans

 (excluding

 securities

 reflected in

 column (a))

 (a)

 (b)

 (c)

 Equity compensation plans approved by security holders

 2014 Plan

 396,000

 (1)

 $

 15.70

 117,000

 Equity compensation plans not approved by security holders

 31,000

 49.21

 -

 Total

 427,000

 $

 18.14

 117,000

 (1) Excludes 276,000 shares of common stock issuable upon the vesting of RSUs as of December 31, 2023.

 Stock Option and Incentive Plan

 Amended and Restated 2014 Stock Option and Incentive Plan

 The Super League 2014 Stock Option and Incentive Plan was approved by the Board of Directors and the stockholders of Super League in October 2014. The 2014 Plan was subsequently amended in May 2015, May 2016, July 2017, October 2018, May 2020, April 2021, June 2022 and September 2023. The Plan allows grants of stock options, stock awards and performance shares with respect to Common Stock of the Company to eligible individuals, which generally includes directors, officers, employees, advisors and consultants. The Plan provides for both the direct award and sale of shares of Common Stock and for the grant of options to purchase shares of Common Stock. Options granted under the Plan include non-statutory options as well as incentive options intended to qualify under Section 422 of the Internal Revenue Code of 1986, as amended.

 The Board of Directors administers the Plan and determines which eligible individuals are to receive option grants or stock issuances under the Plan, the times when the grants or issuances are to be made, the number of shares of Common Stock subject to each grant or issuance, the status of any granted option as either an incentive stock option or a non-statutory stock option under the federal tax laws, the vesting schedule to be in effect for the option grant or stock issuance and the maximum term for which any granted option is to remain outstanding.. The maximum number of shares of Common Stock issuable under the 2014 Plan is currently 15.0 million shares, subject to adjustments for stock splits, stock dividends or other similar changes in our Common Stock or our capital structure.

 Non-Executive Director Compensation

 On January 31, 2019, and as amended on August 13, 2019, effective July 1, 2019, our Board adopted a director compensation plan for our non-employee directors, the details of which are presented in the table below. We do not provide deferred compensation or retirement plans for non-employee directors.

 Schedule of Director Fees

 Compensation Element

 Cash (1)

 Equity (2)

 Annual Retainer

 $

 25,000

 (3)

 $

 (4)

 Audit Committee Chair

 $

 15,000

 $

 -

 Compensation Committee Chair

 $

 10,000

 $

 -

 Nominating and Governance Committee Chair

 $

 5,000

 $

 -

 Audit and Nominating and Governance Committee Member

 $

 5,000

 $

 -

 Compensation Committee Member

 $

 3,500

 $

 -

 Strategic Committee Chair

 $

 15,000

 Strategic Committee Member

 $

 10,000

 (1)

 Cash compensation is payable in equal installments on a quarterly basis; provided, however, that no monthly cash retainer will be paid after any termination of service.

 (2)

 Equity awards will be issuable in the form of restricted stock units (" RSUs "). On the date of the Company's annual meeting of stockholders, each director will receive RSUs at a per share price equal to the closing price of the Company's common stock on the grant date, which RSU will become fully vested on the one-year anniversary of the initial grant date.

 (3)

 Any new non-employee director appointed to the Board will receive cash compensation equal to a prorated portion of the annual retainer amount.

 (4)

 Any new non-employee director appointed to the Board will receive RSUs having a grant date value equal to a prorated portion of annual RSU award amount, which RSUs will become fully vested on the earlier of (i) the one-year anniversary of the initial grant date or (ii) the next annual meeting of the Company's stockholders.

 2023 Summary Table of Director Compensation

 The following table sets forth the compensation awarded to, earned by, or paid to each person who served as a non-employee director during the fiscal year ended December 31, 2023:

 Name

 Fees

 Earned

 or Paid

 in

 Cash ($)

 Stock

 Awards

 ($) (1)

 Other

 Compensation ($)

 Total ($)

 Jeff Gehl (2)

 $

 42,500

 $

 $

 $

 102,500

 Mark Jung (3)(4)

 $

 43,750

 $

 $

 90,000

 $

 193,750

 Michael Keller (5)

 $

 41,000

 $

 $

 $

 101,000

 Kristian Patrick (6)

 $

 28,500

 $

 $

 $

 88,500

 (1)

 The following table presents: (a) the aggregate number of RSUs granted during the year ended December 31, 2023, the grant date fair values of which are reflected in the table above; (b) the aggregate number of outstanding unvested RSUs at December 31, 2023; and (c) the aggregate number of outstanding options (both vested and unvested) at December 31, 2023. The grant date fair value is calculated in accordance with ASC 718. The methodology used to calculate the estimated value of the equity awards granted is set forth under Note 2 and Note 8 to the audited Financial Statements as of and for the years ended December 31, 2023 and 2022, included in our Annual Report on Form 10-K for the year ended December 31, 2023. These amounts do not represent the actual value, if any, that may be realized by the individuals listed in the table.

 Restricted Stock Awards

 Listed in the Table

 Above

 Aggregate Awards as of

 December 31, 2023

 Name

 Unvested

 of

 Restricted

 Stock

 Vested

 Shares of

 Restricted

 Stock

 Aggregate

 Unvested

 Restricted

 Stock

 Awards

 Outstanding

 Aggregate

 Options

 Outstanding

 Gehl

 -

 25,001

 Jung

 -

 -

 Keller

 -

 -

 Patrick

 -

 -

 (2)

 Amounts paid to Mr. Gehl consist of his annual retainer, Audit Committee Chair fees and Strategic Committee member fees, as described above.

 (3)

 Amounts paid to Mr. Jung consist of his annual retainer, Compensation Committee Chair fees, Audit Committee member fees and Strategic Committee member fees, as described above.

 (4)

 In connection with Mr. Jung's appointment as a director on our Board, the Company and Mr. Jung entered into the Consulting Agreement (defined below), pursuant to which Mr. Jung will provide the Company with strategic advice and planning services for which Mr. Jung receives a cash payment of $7,500 per month from the Company. The Consulting Agreement had an initial term that extended to December 31, 2019, was extended through June 30, 2020, and continues on a month-to-month basis, upon mutual agreement of Mr. Jung and the Company.

 (5)

 Amounts paid to Mr. Keller consist of his annual retainer, Nominating and Governance Committee Chair fees, Compensation Committee member fees, Audit Committee member fees and Strategic Committee member fees, as described above. Mr. Keller was appointed to the Compensation Committee in April 2020.

 (6)

 Amounts paid to Ms. Patrick consist of her annual retainer and Compensation Committee member fees, as described above.

 ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

 As of April 25, 2024, we had 12 classes of voting stock outstanding: (i) Common Stock; and (ii) each of the following series of our Preferred Stock, par value $0.001 per share: (a) Series A-2 Preferred; (b) Series A-3 Preferred; (c) Series A-4 Preferred; (d) Series A-5 Preferred; (e) Series AA Preferred; (f) Series AA-3 Preferred; (g) Series AA-4 Preferred; (h) Series AA-5 Preferred; (i) Series AAA Preferred and (j) Series AAA-2 Preferred.

 Beneficial Ownership of Preferred Stock

 The following table sets forth certain information known to us regarding beneficial ownership of our Series A Preferred, Series A-2 Preferred, Series A-3 Preferred, Series A-4 Preferred, Series A-5 Preferred, Series AA Preferred, Series AA-3 Preferred, Series AA-4 Preferred, Series AA-5 Preferred, Series AAA Preferred and Series AAA-2 Preferred as of April 25, 2024 for

 i.

 each of our executive officers and directors individually,

 ii.

 all of our executive officers and directors as a group, and

 iii.

 each person, or group of affiliated persons, known by us to be the beneficial owner of more than 5% of our capital stock. A person is also deemed to be a beneficial owner of any securities of which that person has a right to acquire beneficial ownership within 60 days.

 The percentage of beneficial ownership in the tables below is based on 440 shares of Series A Preferred, 463 shares of Series A-2 Preferred, 315 shares of Series A-3 Preferred, 476 shares of Series A-4 Preferred, 780 shares of Series A-5 Preferred, 4,491 shares of Series AA Preferred, no shares of Series AA-2 Preferred, 391 shares of Series AA-3 Preferred, 515 shares of Series AA-4 Preferred, 550 shares of Series AA-5 Preferred, 8,423 shares of Series AAA Preferred and 5,154 shares of Series AAA-2 Preferred deemed to be outstanding as of April 25, 2024, excluding shares reserved for issuance upon exercise and/or vesting of awards issued under our 2014 Plan.

 Name and address of beneficial owner (1)

 Beneficially

 Owned (2)

 Percentage of

 Voting

 Outstanding

 Series A Preferred

 Mitchell Burger

 10778 Weyburn Ave., Los Angeles, CA 90024

 45.5

 %

 Dress Brothers LLP (3)

 2751 Meadow Hill Ct., Richmond, VWA 99352

 22.7

 %

 PS Gateways LLC (4)

 Sodergaten 20A, Vaxjo, Sweden 35235

 11.4

 %

 Bob and Linda Hixson

 3013 Deer Trail, Mckinney, TX 45071

 5.7

 %

 Michael Kearns

 5217 Highlandcroft Place, Fuquay Varina, NC 27526

 5.7

 %

 Jacqui Marucci

 1820 Highway 35, Apt.57, Wall, New Jersey 07719

 5.7

 %

 Series A-2 Preferred

 Gary Akerstrom

 1440 Meadow Dr., Ukiah, CA 95482

 37.6

 %

 FB Griffin Partnership LTD (5)

 675 Bering Dr., Suite 825, Houston, TX 77057

 16.2

 %

 Howard E. Sneed Revocable Trust (6)

 1019 Hickory Ridge Ln, Loveland, OH 45140

 16.2

 %

 Donnell Buck

 21267 County 10 Blvd., Zumbrota, MN 55992

 5.4

 %

 Stanley Claassen

 808 S. Kansas Ave., Newton, KS 67114

 5.4

 %

 Eugene Tonkovich

 148 Adams Ln., New Canaan, CT 06840

 5.4

 %

 Series A-3 Preferred

 Bohdan Rudawski

 161 S US 12, Fox Lake, IL 60020

 31.7

 %

 Theodore Hesemann

 938 Bayview Drive

 Mosinee, Wi 54555

 23.8

 %

 Wilfred Lee Alcorn

 2222 Highway 130 E, Shelbyville, TN 37160

 15.9

 %

 James Brechin

 52 Country Club Dr. East, Destin, FL 32541

 7.9

 %

 Tony Bosworth

 4218 W. 300 S., Winchester, IN, 47394

 5.7

 %

 Series A-4 Preferred

 Tasso Partners LLC (7)

 150 Ocean Ave. Unit 24, Sea Bright, NJ 07760

 20.2

 %

 B. Rentz Dunn Jr.

 474 Grand Oaks Dr., Brentwood, TN 37027

 16.8

 %

 Campbell C. Steele

 6318 E. Valley Rd., Nashville, TN 37205

 15.8

 %

 Khwaja R. Mohammed

 4488 Jordan Ranch Dr., Dublin, CA 94568

 5.3

 %

 Elvis Rizvic

 11739 Coral Springs Dr., Fort Wayne, IN 46845

 5.3

 %

 Series A-5 Preferred

 The MG 1996 Irrevocable Trust (8)

 84 Business Park Dr., Suite 108, Armonk, NY 10504

 64.

 %

 David Pollack

 2467 Brentwood Rd., Beachwood, OH 44122

 12.8

 %

 Amanda Cecconi

 1002 Fair St., Franklin, TN 37064

 6.4

 %

 Series AA Preferred

 Pioneer Capital Anstalt (9)

 510 Madison Ave, Sute 14, New York, NY 10022

 1,148

 25.6

 %

 Thomas A. Masci, Jr.

 14 Knights Way, Newtown Square, PA 19073

 11.1

 %

 The MG 1996 Irrevocable Trust (8)

 84 Business Park Dr., Suite 206, Armonk, NY 10504

 11.1

 %

 Lester Petracca

 25 Bonnie Heights Rd., Manhasset, NY 11030

 5.6

 %

 David Pollack

 2467 Brentwood Rd., Beachwood, OH 44122

 5.6

 %

 Directors and Officers:

 Michael Keller (10)

 5.6

 %

 Series AA-3 Preferred

 Pamlico Shoals Targeted Opportunities Fund, LP (11)

 PO Box 669, New Albany, OH 43054

 93.6

 %

 Series AA-4 Preferred

 Raymond J. BonAnno (12)

 18 Polo Club Dr., Denver, CO 80209

 48.5

 %

 Joan L. BonAnno (13)

 18 Polo Club Dr., Denver, CO 80209

 48.5

 %

 Series AA-5 Preferred

 Pamlico Shoals Targeted Opportunities Fund, LP (11)

 PO Box 669, New Albany, OH 43054

 90.9

 %

 SFS Growth Fund LLC (14)

 340 Royal Poinciana Way, Palm Beach, FL 33480

 9.1

 %

 Series AAA Preferred

 Raymond J. BonAnno (12)

 18 Polo Club Dr., Denver, CO 80209

 8.9

 %

 Joan L. BonAnno (13)

 18 Polo Club Dr., Denver, CO 80209

 8.9

 %

 Clayton Struve

 675 Arbor Lake Dr., Lake Bluff, IL 60044

 5.9

 %

 MFK Holding LLC (15)

 4650 Chase Oak Ct., Zionsville, IN 46077

 5.3

 %

 The MG 1996 Irrevocable Trust (8)

 84 Business Park Dr., Suite 206, Armonk, NY 10504

 1,000

 11.9

 Series AAA-2 Preferred

 Tasso Partners LLC (7)

 150 Ocean Ave. Unit 24, Sea Bright, NJ 07760

 13.2

 %

 Pamlico Shoals Targeted Opportunities Fund, LP (11)

 PO Box 669, New Albany, OH 43054

 12.3

 %

 Thomas A. Masci, Jr.

 14 Knight Way, Newtown Square, PA 19073

 11.6

 %

 Pamlico Shoals Capital LLC (11)

 PO Box 669, New Albany, OH 43054

 8.4

 %

 (1)

 Each of the Company's Named Executive Officers and directors who do not hold shares of Series A Preferred, Series A-2 Preferred, Series A-3 Preferred, Series A-4 Preferred, Series A-5 Preferred, Series AA Preferred, Series AA-2 Preferred, Series AA-3 Preferred, Series AA-4 Preferred or Series AA-5 Preferred are excluded from this table.

 (2)

 Based on corporate records of the Issuer.

 (3)

 William Dress may be deemed to be the beneficial owner of the securities reported herein.

 (4)

 Per Gustafsson may be deemed to be the beneficial owner of the securities reported herein.

 (5)

 As Managing Partner of FB Griffin Partnership LTD, Fred Griffith may be deemed to be the beneficial owner of the securities reported herein.

 (6)

 Howard E. Sneed may be deemed to be the beneficial owner of the securities reported herein.

 (7)

 As Trustee of the GCL Family Trust, Manager of Tasso Capital LLC, the Manager of Tasso Partners LLC, Dana Carrera may be deemed to be the beneficial owner of the securities reported herein.

 (8)

 As Trustee of the MG 1996 Irrevocable Trust, Stephen Bolduc may be deemed to be the beneficial owner of the securities reported herein.

 (9)

 As Director of Pioneer Capital Anstalt, Nicola Feuerstein may be deemed to be the beneficial owner of the securities reported herein.

 (10)

 Shares reported herein held by the Michael R. Keller Trust. As Trustee of the Michael R. Keller Trust, Michael Keller, a member of the Company's Board of Directors, may be deemed to be the beneficial owner of the securities reported herein. The business address of each of the executive officers and directors of the Company is 11440 W. Bernardo Court, Suite 300, San Diego, California 92127.

 (11)

 As a Managing Member of the General Partner of Pamlico Shoals Targeted Opportunities Fund, LP, and as President and Sole Member of the Manager of Pamlico Shoals Capital LLC, Michael Layman may be deemed to be the beneficial owner of the securities reported herein.

 (12)

 Shares reported herein held by the Raymond J. BonAnno Trust U/A dtd 12.05.2002. As Trustee of the Raymond J. BonAnno Trust U/A dtd 12.05.2002, Raymond J. BonAnno may be deemed to be the beneficial owner of the securities reported herein.

 (13)

 Shares reported herein held by the Joan L. BonAnno Trust U/A dtd 12.05.2002. As Trustee of the Raymond J. BonAnno Trust U/A dtd 12.05.2002, Joan L.BonAnno may be deemed to be the beneficial owner of the securities reported herein.

 (14)

 As Managing Member of SFS Growth Fund LLC, Spencer Segura may be deemed to be the beneficial owners of the securities reported herein.

 (15)

 As Manager of MFK Holding LLC, Mary Kay Fagin may be deemed to be the beneficial owner of the securities reported herein.

 Beneficial Ownership of Common Stock

 The following table sets forth certain information known to us regarding beneficial ownership of our Common Stock as of April 25, 2024 for

 i.

 each of our executive officers and directors individually,

 ii.

 all of our executive officers and directors as a group, and

 iii.

 each person, or group of affiliated persons, known by us to be the beneficial owner of more than 5% of our capital stock. A person is also deemed to be a beneficial owner of any securities of which that person has a right to acquire beneficial ownership within 60 days.

 The percentage of beneficial ownership in the tables below is based on 6,629,942 shares of Common Stock deemed to be outstanding as of April 25, 2024, excluding shares reserved for issuance upon exercise and/or vesting of awards issued under our 2014 Plan.

 Name, address and title of beneficial owner (1)

 Shares of

 Common

 Stock

 Total

 Subject to

 Exercisable

 Derivative Securities

 Total

 Beneficially

 Owned

 Percentage

 of Voting

 Common

 Stock

 Outstanding

 (2)

 Officers and Directors:

 21,010

 75,002

 96,012

 (3)

 1.45

 %

 Chief Executive Officer and Chair

 Clayton Haynes

 4,008

 17,504

 21,512

 (4)

 *

 Chief Financial Officer

 6,119

 30,003

 36,122

 (5)

 *

 President and Chief Commercial Officer

 Jeff Gehl

 61,619

 1,250

 62,869

 (6)

 *

 Kristin Patrick

 5,714

 -

 5,714

 (7)

 *

 Michael Keller

 15,064

 -

 15,064

 (8)

 *

 Mark Jung

 11,460

 -

 11,460

 (9)

 *

 Executive Officers and Directors as a Group (8 persons)

 124,993

 123,759

 248,752

 3.75

 %

 5% Shareholders (16):

 Raymond J. Bonanno TTEE U/A 12/5/02, Raymond Bonanno, Trustee (10)

 18 Polo Club Drive

 Denver, CO 80209

 448,029

 448,029

 6.76

 %

 Joan L Bonanno TTEE, U/A DTD 12/5/2002, Joan L Bonanno, Trustee (11)

 18 Polo Club Drive

 Denver, CO 80209

 448,029

 448,029

 6.76

 %

 Thomas A Masci Jr.

 14 Knights Way

 Newtown Square, PA 19073

 350,878

 350,878

 5.29

 %

 Pamlico Shoals Targeted Opportunities Fund LP (12)
 PO BOX 669

 NEW ALBANY, OH 43054

 370,761

 370,761

 5.59

 %

 Pioneer Capital Anstalt (13)

 c/o LH Financial Services. Corp.

 510 Madison Ave., 14th Floor

 New York, NY 10022

 608,694

 608,694

 9.18

 %

 Tasso Partners, LLC, Dana Carrera Trustee of GCL Family Trust (14)

 150 Ocean Ave. Unit 24

 Sea Bright, NJ 07760

 396,492

 396,492

 5.98

 %

 THE MG 1996 IRREVOCABLE TRUST (15)

 84 BUSINESS PARK DRIVE SUITE 108

 ARMONK, NY 10504

 597,372

 597,372

 9.01

 %

 * Less than 1.0%

 (1)

 Unless otherwise indicated, the business address for each of the executive officers and directors is c/o Super League Enterprise, Inc., 2912 Colorado Avenue, Suite #203, Santa Monica, CA 90404.

 (2)

 Beneficial ownership is determined in accordance with the rules of the SEC. In computing the number of shares beneficially owned by a person and the percentage of ownership by that person, shares of voting Common Stock subject to outstanding rights to acquire shares of voting Common Stock held by that person that are currently exercisable or exercisable within 60 days are deemed outstanding. Such shares are not deemed outstanding for the purpose of computing the percentage of ownership by any other person.

 (3)

 Includes 5,556 shares of Common Stock issuable upon exercise of stock options exercisable within 60 days of April 25, 2024. Excludes 45,000 PSUs that will not be vested within 60 days of April 25, 2024.

 (4)

 Includes 1,296 shares issuable upon conversion of stock options exercisable within 60 days of April 25, 2024. Excludes 833 RSUs and 7,500 PSUs that will not be vested within 60 days of April 25, 2024.

 (5)

 Includes (i) 2,222 shares issuable upon conversion of stock options exercisable within 60 days of April 25, 2024, and (ii) 625 shares of Common Stock held by 3MB Associates, LLC. Excludes 1,083 RSUs and 7,500 PSUs that will not be vested within 60 days of April 25, 2024.

 (6)

 Includes (i) 1,250 shares of Common Stock issuable upon exercise of stock options exercisable within 60 days of April 25, 2024 held directly, (ii) 3,845 shares of Common Stock held by BigBoy Investment Partnership, LLC, (iv) and 1,226 shares of Common Stock held by BigBoy, LLC. Mr. Gehl is the Managing Member of BigBoy Investment Partnership and BigBoy, LLC, and, therefore, may be deemed to beneficially own these shares. The business address for BigBoy Investment Partnership and BigBoy, LLC is 111 Bayside Dr., Suite 270, Newport Beach, CA 92625. Excludes 27,027 RSUs that will not be vested within 60 days of April 25, 2024.

 (7)

 Excludes 27,027 RSUs that will not be vested within 60 days of April 25, 2024.

 (8)

 Includes (i) 9,065 shares of Common Stock held by the Michael R. Keller Trust, (ii) 142 shares of Common Stock, and (iii) 142 shares of Common Stock held by the Keller 2004 IRR Trust FBO Charles. Excludes 27,027 RSUs that will not be vested within 60 days of April 25, 2024.

 (9)

 Includes 5,980 shares of Common Stock held in the Reporting Person's IRA account. Excludes 27,027 RSUs that will not be vested within 60 days of April 25, 2024.

 (10)

 Shares reported herein held by the Raymond J. BonAnno Trust U/A dtd 12.05.2002. As Trustee of the Raymond J. BonAnno Trust U/A dtd 12.05.2002, Raymond J. BonAnno may be deemed to be the beneficial owner of the securities reported herein.

 (11)

 Shares reported herein held by the Joan L. BonAnno Trust U/A dtd 12.05.2002. As Trustee of the Raymond J. BonAnno Trust U/A dtd 12.05.2002, Joan L.BonAnno may be deemed to be the beneficial owner of the securities reported herein.

 (12)

 As a Managing Member of the General Partner of Pamlico Shoals Targeted Opportunities Fund, LP, Michael Layman may be deemed to be the beneficial owner of the securities reported herein.

 (13)

 As Director of Pioneer Capital Anstalt, Nicola Feuerstein may be deemed to be the beneficial owner of the securities reported herein.

 (14)

 As Trustee of the GCL Family Trust, Manager of Tasso Capital LLC, the Manager of Tasso Partners LLC, Dana Carrera may be deemed to be the beneficial owner of the securities reported herein.

 (15)

 As Trustee of the MG 1996 Irrevocable Trust, Stephen Bolduc may be deemed to be the beneficial owner of the securities reported herein.

 (16)

 Reflects common stock issuable upon conversion of preferred stock outstanding as of April 25, 2024.

 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

 In connection with Mr. Jung's appointment as a director on our Board, the Company and Mr. Jung entered into a consulting agreement (the " Consulting Agreement "), pursuant to which Mr. Jung will provide the Company with strategic advice and planning services for which Mr. Jung will receive a cash payment of $7,500 per month from the Company. The Consulting Agreement had an initial term that continued until December 31, 2019, and was extended through December 31, 2020 upon mutual agreement of Mr. Jung and the Company, and continued on a month-to-month basis during 2022 and 2023.

 Related Party Transaction Policy

 Our Board recognizes the fact that transactions with related persons present a heightened risk of conflicts of interests and/or improper valuation (or the perception thereof). Accordingly, our Board has adopted a written policy addressing the approval of transactions with related persons, in conformity with the requirements for issuers having publicly held common stock listed on the Nasdaq Capital Market. Pursuant to our Related Persons Transactions Policy (the " Policy "), any related-person transaction, and any material amendment or modification of a related-person transaction, is required to be reviewed and approved or ratified by the Board's Audit Committee, which shall be composed solely of independent directors who are disinterested, or in the event that a member of the Audit Committee is a Related Person, as defined below, then by the disinterested members of the Audit Committee; provided, however, that in the event that management determines that it is impractical or undesirable to delay the consummation of a related person transaction until a meeting of the Audit Committee, then the Chair of the Audit Committee may approve such transaction in accordance with this policy; such approval must be reported to the Audit Committee at its next regularly scheduled meeting. In determining whether to approve or ratify any related person transaction, the Audit Committee must consider all of the relevant facts and circumstances and shall approve only those transactions that are deemed to be in the best interests of the Company.

 Pursuant to our Policy and SEC rules, a "related person transaction" includes any transaction, arrangement or relationship which: (i) the Company is a participant; (ii) the amount involved exceeds $120,000; and (iii) an executive officer, director or director nominee, or any person who is known to be the beneficial owner of more than 5% of our common stock, or any person who is an immediate family member of an executive officer, director or director nominee or beneficial owner of more than 5% of our common stock, had or will have a direct or indirect material interest (each a " Related Person ").

 In connection with the review and approval or ratification of a related person transaction:

 Management shall be responsible for determining whether a transaction constitutes a related person transaction subject to the Policy, including whether the Related Person has a material interest in the transaction, based on a review of all of the facts and circumstances; and

 Should management determine that a transaction is a related person transaction subject to the Policy, it must disclose to the Audit Committee all material facts concerning the transaction and the Related Person's interest in the transaction.

 Director Independence

 Our Board has determined that the following four of our five directors qualify as independent directors, as determined in accordance with the Listing Rule 5605 of the Nasdaq Stock Market: Messrs. Gehl, Keller and Jung, and Ms. Patrick. Nasdaq Listing Rule 5605 includes a series of objective tests, including that the director is not, and has not been for at least three years, one of our employees and that neither the director nor any of his family members has engaged in various types of business dealings with us. In addition, as required by Nasdaq Stock Market listing rules, our Board has made a subjective determination as to each independent director that no relationships exist, which, in the opinion of our Board, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director. In making these determinations, our Board reviewed and discussed information provided by the directors and us with regard to each director's business and personal activities and relationships as they may relate to us and our management.

 Ms. Hand, our Chief Executive Officer and Chair, is a first cousin of Mr. Gehl, a member of our Board. There are no other family relationships among any of our directors or executive officers.

 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES

 Upon recommendation of the Audit Committee of the Board of Directors, the Board appointed Baker Tilly US, LLP (formerly Squar Milner LLP) (" Baker Tilly ") (Los Angeles, California, PCAOB ID: 23) as our independent registered public accounting firm for the year ending December 31, 2023. The Board may terminate the appointment of Baker Tilly as the Company's independent registered public accounting firm without the approval of the Company's stockholders whenever the Board deems such termination necessary or appropriate.

 Audit Fees

 The following table presents fees billed by Baker Tilly LLP (Baker Tilly LLP served as the Company's auditor from 2016 to 2023) for professional services rendered for the fiscal years ended December 31, 2023 and 2022:

 2023

 2022

 Audit fees (1)

 $

 27,000

 $

 193,000

 Audit related fees (2)

 57,000

 27,000

 Tax fees (3)

 39,000

 30,000

 All other fees (4)

 -

 -

 Total

 $

 123,000

 $

 250,000

 (1)

 Audit fees include fees and expenses for professional services rendered in connection with the audit of our financial statements for those years, reviews of the interim financial statements that are normally provided by the independent registered public accounting firm in connection with statutory and regulatory filings or engagements.

 (2)

 Audit related fees consist of fees billed for assurance related services that are reasonably related to the performance of the audit or review of our financial statements and are not reported under "Audit fees." Included in Audit related fees are fees and expenses related to reviews of registration statements and SEC filings other than annual reports on Form 10-K and quarterly reports on Form 10-Q.

 (3)

 Tax fees include the aggregate fees billed during the fiscal year indicated for professional services for tax compliance, tax advice and tax planning.

 (4)

 All other fees consist of fees for products and services other than the services reported above.

 The following table presents fees billed by WithumSmith+Brown, PC for professional services rendered for the fiscal year ended December 31, 2023:

 2023

 Audit fees (1)

 $

 282,520

 Audit related fees (2)

 15,600

 Tax fees (3)

 -

 All other fees (4)

 -

 Total

 $

 298,120

 (1)

 Audit fees include fees and expenses for professional services rendered in connection with the audit of our financial statements for those years, reviews of the interim financial statements that are normally provided by the independent registered public accounting firm in connection with statutory and regulatory filings or engagements.

 (2)

 Audit related fees consist of fees billed for assurance related services that are reasonably related to the performance of the audit or review of our financial statements and are not reported under "Audit fees." Included in Audit related fees are fees and expenses related to reviews of registration statements and SEC filings other than annual reports on Form 10-K and quarterly reports on Form 10-Q.

 (3)

 Tax fees include the aggregate fees billed during the fiscal year indicated for professional services for tax compliance, tax advice and tax planning.

 (4)

 All other fees consist of fees for products and services other than the services reported above. No such fees were billed by WithumSmith+Brown, PC for 2023.

 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

 Except as described below, there have been no changes in or disagreements with accountants on accounting and financial disclosure.

 On July 14, 2023, Super League Gaming, Inc. (the " Company ") retained Withum Smith + Brown, PC (" Withum ") as its independent registered public accounting firm for the fiscal year ending December 31, 2023.

 Auditor Independence

 Our Audit Committee and our full Board of Directors considered that the work done for us in the year ended December 31, 2023, by WithumSmith+Brown, PC, was compatible with maintaining WithumSmith+Brown, PC independence.

 Our Audit Committee and our full Board of Directors considered that the work done for us in the years ended December 31, 2023 and 2022, respectively, by Baker Tilly was compatible with maintaining Baker Tilly independence.

 ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

 Exhibit No.

 Name

 Incorporation by Reference

 2.1

 Agreement and Plan of Merger, dated March 9, 2021, by and among Super League Enterprise, Inc., SLG Merger Sub II, Inc., and Mobcrush, Inc.

 Exhibit 2.1 to the Current Report on Form 8-K, filed on March 11, 2021.

 2.2

 Amendment No. 1 to Agreement and Plan of Merger by and between Super League Enterprise, Inc., and Mobcrush Streaming, Inc., dated April 20, 2021.

 Exhibit 10.1 to the Current Report on Form 8-K, filed on April 21, 2021.

 2.3

 Asset Purchase Agreement, dated October 4, 2021, among Super League Enterprise, Inc., Bloxbiz Co., Samuel Drozdov, and Benjamin Khakshoor.

 Exhibit 2.1 to the Current Report on Form 8-K, filed on October 7, 2021.

 2.4

 Asset Purchase Agreement, by and between Super League Gaming, Inc., and Melon, Inc., dated May 4, 2023

 Exhibit 2.3 to the Current Report on Form 8-K, filed on May 9, 2023.

 3.1

 Second Amended and Restated Certificate of Incorporation of Super League Enterprise, Inc., dated November 19, 2018.

 Exhibit 3.1 to the Registration Statement, filed on January 4, 2019.

 3.2

 Second Amended and Restated Bylaws of Super League Enterprise, Inc.

 Exhibit 3.2 to the Registration Statement, filed on January 4, 2019.

 3.3

 Certificate of Amendment to the Second Amended and Restated Certificate of Incorporation of Super League Enterprise, Inc., dated February 8, 2019.

 Exhibit 3.3 to the Amendment No. 2 to the Registration Statement, filed on February 12, 2019.

 3.4

 Certificate of Amendment to the Second Amended and Restated Certificate of Incorporation of Super League Enterprise, Inc., dated July 24, 2020.

 Exhibit 3.1 to the Current Report on Form 8-K, filed on July 24, 2020.

 3.5

 Certificate of Designation of Preferences, Rights and Limitations of the Series A Preferred Stock

 Exhibit 3.5 to the Annual Report on Form 10-K for the year ended December 31, 2022

 3.6

 Certificate of Designation of Preferences, Rights and Limitations of the Series A-2 Preferred Stock

 Exhibit 3.6 to the Annual Report on Form 10-K for the year ended December 31, 2022

 3.7

 Certificate of Designation of Preferences, Rights and Limitations of the Series A-3 Preferred Stock

 Exhibit 3.7 to the Annual Report on Form 10-K for the year ended December 31, 2022

 3.8

 Certificate of Designation of Preferences, Rights and Limitations of the Series A-4 Preferred Stock

 Exhibit 3.8 to the Annual Report on Form 10-K for the year ended December 31, 2022

 3.9

 Certificate of Designation of Preferences, Rights and Limitations of the Series A-5 Preferred Stock

 Exhibit 3.9 to the Annual Report on Form 10-K for the year ended December 31, 2022

 3.10

 Certificate of Designation of Preferences, Rights and Limitations of the Series AA Preferred Stock

 Exhibit 3.1 to the Current Report on Form 8-K, filed on April 25, 2023

 3.11

 Certificate of Designation of Preferences, Rights and Limitations of the Series AA-2 Preferred Stock

 Exhibit 3.11 to the Annual Report on Form 10-K filed April 15, 2024

 3.12

 Certificate of Designation of Preferences, Rights and Limitations of the Series AA-3 Preferred Stock

 Exhibit 3.1 to the Current Report on Form 8-K, filed on May 4, 2023

 3.13

 Certificate of Designation of Preferences, Rights and Limitations of the Series AA-4 Preferred Stock

 Exhibit 3.1 to the Current Report on Form 8-K/A, filed on May 9, 2023, as amended on May 10, 2023.

 3.14

 Certificate of Designation of Preferences, Rights and Limitations of the Series AA-5 Preferred Stock

 Exhibit 3.1 to the Current Report on Form 8-K, filed on June 2, 2023

 3.15

 Certificate of Amendment to Super League Gaming, Inc.'s Second Amended and Restated Certificate of Incorporation, as amended

 Exhibit 3.2 to the Current Report on Form 8-K, filed on June 2, 2023

 3.16

 Certificate of Amendment to the Second Amended and Restated Certificate of Incorporation, as Amended, of Super League Gaming, Inc.

 Exhibit 3.1 to the Current Report on Form 8-K, filed on September 8, 2023.

 3.17

 Certificate of Designation of Preferred, Rights and Limitations of the Series AAA Preferred Stock

 Exhibit 3.1 to the Current Report on Form 8-K, filed on December 6, 2023

 3.18

 Certificate of Designation of Preferences, Rights and Limitations of the Series AAA-2 Preferred Stock

 Exhibit 3.1 to the Current Report on Form 8-K, filed on December 22, 2023

 4.1

 Form of Common Stock Certificate.

 Exhibit 4.1 to the Amendment No. 2 to the Registration Statement, filed on February 12, 2019.

 4.2

 Form of Registration Rights Agreement, among Super League Enterprise, Inc. and certain accredited investors.

 Exhibit 4.2 to the Registration Statement on Form S-1, filed on January 4, 2019.

 4.3

 Common Stock Purchase Warrant dated June 16, 2017 issued to Ann Hand.

 Exhibit 4.3 to the Registration Statement on Form S-1, filed on January 4, 2019.

 4.4

 Form of 9.00% Secured Convertible Promissory Note.

 Exhibit 4.4 to the Registration Statement on Form S-1, filed on January 4, 2019.

 4.5

 Form of Callable Common Stock Purchase Warrant, issued to certain accredited investors.

 Exhibit 4.5 to the Registration Statement on Form S-1, filed on January 4, 2019.

 4.6

 Form of Representative's Warrant.

 Exhibit 4.6 to the Amendment No. 2 to the Registration Statement on Form S-1, filed on February 12, 2019.

 4.7

 Form of May 2022 Convertible Promissory Note

 Exhibit 10.2 to the Current Report on Form 8-K, filed May 16, 2022.

 4.8

 Form of Placement Agent Warrant

 Exhibit 10.35 to the Annual Report on Form 10-K for the year ended December 31, 2022, filed March 31, 2023

 4.9

 Form of Placement Agent Warrants

 Exhibit 10.3 to the Current Report on Form 8-K, filed on April 25, 2023

 4.10

 Form of Pre-Funded Warrant

 Exhibit 10.2 to the Current Report on Form 8-K filed on August 24, 2023

 4.11

 Form of Placement Agent Warrants

 Exhibit 10.5 to the Current Report on Form 8-K filed on December 6, 2023

 10.1

 Super League Enterprise, Inc. Amended and Restated 2014 Stock Option and Incentive Plan.

 Exhibit 10.1 to the Registration Statement, filed on January 4, 2019.

 10.2

 Form of Stock Option Agreement under 2014 Stock Option and Incentive Plan.

 Exhibit 10.2 to the Registration Statement, filed on January 4, 2019.

 10.3

 Subscription Agreement, among Nth Games, Inc. and certain accredited investors.

 Exhibit 10.3 to the Registration Statement, filed on January 4, 2019.

 10.4

 Subscription Agreement, among Super League Enterprise, Inc. and certain accredited investors.

 Exhibit 10.4 to the Registration Statement, filed on January 4, 2019.

 10.5

 Form of Theater Agreement, filed herewith.

 Exhibit 10.5 to the Registration Statement, filed on January 4, 2019.

 10.6

 Lease between Super League Enterprise, Inc. and Roberts Business Park Santa Monica LLC, dated June 1, 2016.

 Exhibit 10.6 to the Registration Statement, filed on January 4, 2019.

 10.7+

 License Agreement between Super League Enterprise, Inc. and Riot Games, Inc., dated June 22, 2016.

 Exhibit 10.7 to the Registration Statement, filed on January 4, 2019.

 10.8+

 Amended and Restated License Agreement between Super League Enterprise, Inc. and Mojang AB, dated August 1, 2016.

 Exhibit 10.8 to the Registration Statement, filed on January 4, 2019.

 10.9+

 Master Agreement between Super League Enterprise, Inc. and Viacom Media Networks, dated June 9, 2017.

 Exhibit 10.9 to the Registration Statement, filed on January 4, 2019.

 10.10

 Form of Common Stock Purchase Agreement, among Super League Enterprise, Inc. and certain accredited investors.

 Exhibit 10.10 to the Registration Statement, filed on January 4, 2019.

 10.11

 Form of Investors' Rights Agreement, among Super League Enterprise, Inc. and certain accredited investors.

 Exhibit 10.11 to the Registration Statement, filed on January 4, 2019.

 10.12

 Employment Agreement, between Super League Enterprise, Inc. and Ann Hand, dated June 16, 2017.

 Exhibit 10.12 to the Registration Statement, filed on January 4, 2019.

 10.13

 Employment Agreement, between Super League Enterprise, Inc. and David Steigelfest, dated October 31, 2017.

 Exhibit 10.13 to the Registration Statement, filed on January 4, 2019.

 10.14

 Riot Games, Inc. Extension Letter, dated November 21, 2017.

 Exhibit 10.14 to the Registration Statement, filed on January 4, 2019.

 10.15

 Form of Note Purchase Agreement, among Super League Enterprise, Inc. and certain accredited investors.

 Exhibit 10.15 to the Registration Statement, filed on January 4, 2019.

 10.16

 Form of Security Agreement, between Super League Enterprise, Inc. and certain accredited investors.

 Exhibit 10.16 to the Registration Statement, filed on January 4, 2019.

 10.17

 Form of Intercreditor and Collateral Agent Agreement, among Super League Enterprise, Inc. and certain accredited investors.

 Exhibit 10.17 to the Registration Statement, filed on January 4, 2019.

 10.18

 Form of Investors' Rights Agreement (9% Secured Convertible Promissory Notes), among Super League Enterprise, Inc. and certain accredited investors.

 Exhibit 10.18 to the Registration Statement, filed on January 4, 2019.

 10.19

 Master Service Agreement and Initial Statement of Work between Super League Enterprise, Inc. and Logitech Inc., dated March 1, 2018.

 Exhibit 10.19 to the Registration Statement, filed on January 4, 2019.

 10.20

 Asset Purchase Agreement, between Super League Enterprise, Inc. and Minehut, dated June 22, 2018.

 Exhibit 10.20 to the Registration Statement, filed on January 4, 2019.

 10.21

 Amended and Restated Employment Agreement, between Super League Enterprise, Inc. and Ann Hand, dated November 15, 2018.

 Exhibit 10.21 to the Registration Statement, filed on January 4, 2019.

 10.22

 Amended and Restated Employment Agreement, between Super League Enterprise, Inc. and David Steigelfest, dated November 1, 2018.

 Exhibit 10.22 to the Registration Statement, filed on January 4, 2019.

 10.23

 Employment Agreement, between Super League Enterprise, Inc. and Matt Edelman, dated November 1, 2018.

 Exhibit 10.23 to the Registration Statement, filed on January 4, 2019.

 10.24

 Employment Agreement, between Super League Enterprise, Inc. and Clayton Haynes, dated November 1, 2018.

 Exhibit 10.24 to the Registration Statement, filed on January 4, 2019.

 10.25++

 Commercial Partnership Agreement between Super League Enterprise, Inc., and ggCircuit, LLC, dated September 23, 2019.

 Exhibit 10.1 to the Quarterly Report on Form 10-Q for the period ended September 30, 2019, filed November 14, 2019.

 10.26

 Form of Registration Rights Agreement, dated March 2021.

 Exhibit 10.1 to the Current Report on Form 8-K, filed on March 11, 2021.

 10.27

 Form of Voting Agreement, dated March 2021.

 Exhibit 10.2 to the Current Report on Form 8-K, filed on March 11, 2021.

 10.28

 Form of Securities Purchase Agreement, dated March 19, 2021.

 Exhibit 10.1 to the Current Report on Form 8-K, filed on March 23, 2021.

 10.29

 Equity Distribution Agreement, dated as of September 3, 2021, by and between Super League Enterprise, Inc. and Maxim Group LLC.

 Exhibit 1.3 to the Company's Registration Statement on Form S-3 (File No. 333-259347, filed September 7, 2021.

 10.30

 Share Purchase Agreement, by and between Super League Enterprise, Inc. and Bannerfy Ltd., dated August 11, 2021.

 Exhibit 10.4 to the Quarterly Report on Form 10-Q for the period ended June 30, 2021, filed August 16, 2021.

 10.31

 Executive Employment Agreement between Super League Gaming, Inc., and Ann Hand, dated January 5, 2022

 Exhibit 10.1 to the Current Report on Form 8-K filed January 7, 2022.

 10.32

 Executive Employment Agreement between Super League Gaming, Inc., and Clayton Haynes, dated January 5, 2022

 Exhibit 10.2 to the Current Report on Form 8-K filed January 7, 2022.

 10.33

 Executive Employment Agreement between Super League Gaming, Inc., and David Steigelfest, dated January 5, 2022

 Exhibit 10.3 to the Current Report on Form 8-K filed January 7, 2022.

 10.34

 Executive Employment Agreement between Super League Gaming, Inc., and Matt Edelman, dated January 5, 2022

 Exhibit 10.4 to the Current Report on Form 8-K filed January 7, 2022.

 10.35

 Executive Employment Agreement between Super League Gaming, Inc., and Michael Wann, dated January 5, 2022

 Exhibit 10.5 to the Current Report on Form 8-K filed January 7, 2022.

 10.36

 Common Stock Purchase Agreement, dated March 25, 2022, by and between Super League Enterprise, Inc. and Tumim Stone Capital LLC

 Exhibit 10.31 to the Annual Report on Form 10-K for the year ended December 31, 2021, filed March 31, 2022.

 10.37

 Securities Purchase Agreement between Super League Gaming, Inc., and the investor signatories thereto, dated May 16, 2022

 Exhibit 10.1 to the Current Report on Form 8-K, filed May 16, 2022.

 10.38

 Registration Rights Agreement between Super League Gaming, Inc., and the investor signatories thereto, dated May 16, 2022

 Exhibit 10.3 to the Current Report on Form 8-K, filed May 16, 2022.

 10.39

 Transition Letter Agreement dated January 13, 2023, between Super League Gaming, Inc. and Mike Wann.

 Exhibit 10.1 to the Current Report on Form 8-K, filed January 20, 2023.

 10.40

 Form of Placement Agency Agreement

 Exhibit 10.32 to the Annual Report on Form 10-K for the year ended December 31, 2022, filed March 31, 2023

 10.41

 Form of Series A Subscription Agreement

 Exhibit 10.33 to the Annual Report on Form 10-K for the year ended December 31, 2022, filed March 31, 2023

 10.42

 Form of Registration Rights Agreement

 Exhibit 10.34 to the Annual Report on Form 10-K for the year ended December 31, 2022, filed March 31, 2023

 10.43

 Form of Series AA Subscription Agreement

 Exhibit 10.1 to the Current Report on Form 8-K, filed on April 25, 2023

 10.44

 Form of Registration Rights Agreement

 Exhibit 10.2 to the Current Report on Form 8-K, filed on April 25, 2023

 10.45

 Placement Agency Agreement by and between Aegis Capital Corp. and Super League Gaming, Inc., dated March 24, 2023.

 Exhibit 10.1 to the Current Report on Form 8-K, filed on June 2, 2023

 10.46

 Underwriting Agreement, dated August 21, 2023, between Super League Gaming, Inc. and Aegis Capital Corp.

 Exhibit 10.1 to the Current Report on Form 8-K filed on August 24, 2023

 10.47

 Warrant Agency Agreement, dated August 23, 2023, between Super League Gaming, Inc and Direct Transfer, LLC

 Exhibit 10.3 to the Current Report on Form 8-K filed on August 24, 2023

 10.48

 Form of Series AAA Subscription Agreement

 Exhibit 10.1 to the Current Report on Form 8-K filed on December 6, 2023

 10.49

 Form of Registration Rights Agreement

 Exhibit 10.2 to the Current Report on Form 8-K filed on December 6, 2023

 10.50

 Form of Series A Exchange Agreement

 Exhibit 10.3 to the Current Report on Form 8-K filed on December 6, 2023

 10.51

 Form of Series AA Exchange Agreement

 Exhibit 10.4 to the Current Report on Form 8-K filed on December 6, 2023

 10.52

 Financing and Security Agreement, effective December 17, 2023, by and among Super League Enterprise, Inc., Mobcrush Streaming, Inc., InPVP, LLC and SLR Digital Finance, LLC

 Exhibit 10.1 to the Current Report on Form 8-K filed on December 22, 2023

 10.53

 Placement Agency Agreement, dated November 6, 2023, between Super League Enterprise, Inc., and Aegis Capital Corporation

 Exhibit 10.2 to the Current Report on Form 8-K filed on December 22, 2023

 10.54

 Mutual General Release and Settlement Agreement by and between 3i, LP, Nomis Bay Ltd. and BPY Limited and Super League Enterprise, Inc., dated March 12, 2024

 Exhibit 10.1 to the Current Report on Form 8-K filed on March 15, 2024

 10.55

 Asset Purchase Agreement by and between Super League Enterprise, Inc. and GamerSafer, Inc.

 Exhibit 10.55 to the Annual Report on Form 10-K filed April 15, 2024

 14.1

 Super League Enterprise, Inc. Code of Business Conduct and Ethics.

 Exhibit 14.1 to the Registration Statement, filed on January 4, 2019.

 21.1

 Subsidiaries of Registrant

 Exhibit 21.1 to the Annual Report on Form 10-K filed April 15, 2024

 23.1*

 Consent of Independent Registered Public Accounting Firm – WithumSmith+Brown, PC

 23.2

 Consent of Independent Registered Public Accounting Firm – Baker Tilly US, LLP

 Exhibit 23.2 to the Annual Report on Form 10-K filed April 15, 2024

 31.1*

 Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act.

 31.2*

 Certification of Principal Financial and Accounting Officer Pursuant to Section 302 of the Sarbanes-Oxley Act.

 32.1

 Certification Pursuant to Section 906 of the Sarbanes-Oxley Act.

 Exhibit 32.1 to the Annual Report on Form 10-K filed April 15, 2024

 97.1

 Super League Enterprise, Inc. Clawback Policy

 Exhibit 97.1 to the Annual Report on Form 10-K filed April 15, 2024

 101.INS

 101.SCH

 101.CAL

 101.DEF

 101.LAB

 101.PRE

 *

 Filed herewith.

 Identifies exhibits that consist of a management contract or compensatory plan or arrangement.

 +

 Confidential treatment has been requested for certain confidential portions of this exhibit pursuant to Rule 406 under the Securities Act of 1933, as amended, and Rule 24b-2 under the Securities Exchange Act of 1934, as amended (together, the "Rules"). In accordance with the Rules, these confidential portions have been omitted from this exhibit and filed separately with the Securities and Exchange Commission.

 ++

 Certain portions of this exhibit (indicated by "[*****]") have been omitted as the Company has determined (i) the omitted information is not material and (ii) the omitted information would likely cause harm to the Company if publicly disclosed.

 SIGNATURES

 Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 SUPER LEAGUE GAMING, INC.

 Date: April 29, 2024

 By:

 /s/ Ann Hand

 Chief Executive Officer

 (Principal Executive Officer)