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            4</title><style type="text/css">
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      </style></head><body>SEC Form 4 
   <table width="100%" border="0" cellspacing="0" cellpadding="4"><tr><td width="20%" colspan="2" valign="top" align="center" class="FormName">FORM 4</td><td rowspan="2" width="60%" valign="middle" align="center"><span class="FormTitle">UNITED STATES SECURITIES AND EXCHANGE COMMISSION</span><br><span class="MedSmallFormText">Washington, D.C. 20549</span><br><br><span class="FormTitle">STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP</span><br><br><span class="MedSmallFormText">Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934</span><br><span class="MedSmallFormText">or Section 30(h) of the Investment Company Act of 1940</span></td><td rowspan="2" width="20%" valign="top" align="center"><table width="100%" border="1" summary="OMB Approval Status Box"><tr><td class="FormTextC">OMB APPROVAL</td></tr><tr><td><table width="100%" border="0" summary="OMB Interior Box"><tr><td class="SmallFormText" colspan="3">OMB Number:</td><td class="SmallFormTextR">3235-0287</td></tr><tr><td class="SmallFormText" colspan="4">Estimated average burden</td></tr><tr><td class="SmallFormText" colspan="3">hours per response:</td><td class="SmallFormTextR">0.5</td></tr></table></td></tr></table></td></tr><tr valign="middle"><td><table width="100%" border="1" cellpadding="0" cellspacing="0"><tr><td>  </td></tr></table></td><td class="SmallFormText">Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. 
         <i>See</i>

         Instruction 1(b).</td></tr><tr valign="middle"><td><table width="100%" border="1" cellpadding="0" cellspacing="0"><tr><td>  </td></tr></table></td><td class="SmallFormText">Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. </td></tr></table><table width="100%" border="1" cellspacing="0" cellpadding="4"><tr><td rowspan="4" width="35%" valign="top"><span class="MedSmallFormText">1. Name and Address of Reporting Person<sup>*</sup></span><table border="0" width="100%"><tr><td><a href="/cgi-bin/browse-edgar?action=getcompany&amp;CIK=0002007112">Kenna Justin</a></td></tr></table><hr width="98%"><table border="0" width="100%"><tr><td width="33%" class="MedSmallFormText">(Last)</td><td width="33%" class="MedSmallFormText">(First)</td><td width="33%" class="MedSmallFormText">(Middle)</td></tr></table><table border="0" width="100%"><tr><td><span class="FormData">C/O GAMESQUARE HOLDINGS, INC.</span></td></tr><tr><td><span class="FormData">6775 COWBOYS WAY, STE. 1335</span></td></tr></table><hr width="98%"><span class="MedSmallFormText">(Street)</span><table border="0" width="100%"><tr><td width="33%"><span class="FormData">FRISCO</span></td><td width="33%"><span class="FormData">
				TEXAS
			</span></td><td width="33%"><span class="FormData">75034</span></td></tr></table><hr width="98%"><table border="0" width="100%"><tr><td width="33%" class="MedSmallFormText">(City)</td><td width="33%" class="MedSmallFormText">(State)</td><td width="33%" class="MedSmallFormText">(Zip)</td></tr></table><hr width="98%"><table border="0" width="100%"><tr><td width="33%" colspen="3"><span class="FormData">UNITED STATES</span></td></tr></table><hr width="98%"><span class="MedSmallFormText">(Country)</span></td><td width="35%" valign="top"><span class="MedSmallFormText">2. Issuer Name <b>and</b> Ticker or Trading Symbol
      </span><br><a href="/cgi-bin/browse-edgar?action=getcompany&amp;CIK=0001714562">GameSquare Holdings, Inc.</a>
     [ <span class="FormData">GAME</span> ]
   </td><td rowspan="2" valign="top"><span class="MedSmallFormText">5. Relationship of Reporting Person(s) to Issuer
      </span><br><span class="MedSmallFormText">(Check all applicable)</span><table border="0" width="100%"><tr><td width="15%" align="center"><span class="FormData">X</span></td><td width="35%" class="MedSmallFormText">Director</td><td width="15%" align="center"></td><td width="35%" class="MedSmallFormText">10% Owner</td></tr><tr><td align="center"><span class="FormData">X</span></td><td class="MedSmallFormText">Officer (give title below)</td><td align="center"></td><td class="MedSmallFormText">Other (specify below)</td></tr><tr><td width="15%" align="center"></td><td width="35%" align="left" style="color: blue">CEO and Director</td><td width="15%" align="center"></td><td width="35%" align="left" style="color: blue"></td></tr></table></td></tr><tr><td valign="top"><span class="MedSmallFormText">2a. Foreign Trading Symbol
		 <br></span></td></tr><tr><td valign="top"><span class="MedSmallFormText">3. Date of Earliest Transaction
         (Month/Day/Year)</span><br><span class="FormData">07/10/2026</span></td><td valign="top" rowspan="2"><span class="MedSmallFormText">6. Individual or Joint/Group Filing (Check Applicable Line)
      </span><table border="0" width="100%"><tr><td width="15%" align="center"><span class="FormData">X</span></td><td width="85%" class="MedSmallFormText">Form filed by One Reporting Person</td></tr><tr><td width="15%" align="center"></td><td width="85%" class="MedSmallFormText">Form filed by More than One Reporting Person</td></tr></table></td></tr><tr><td valign="top" rowspan="1"><span class="MedSmallFormText">4. If Amendment, Date of Original Filed
         (Month/Day/Year)</span><br><br></td></tr></table><table width="100%" border="1" cellspacing="0" cellpadding="4"><thead><tr><th width="100%" valign="top" colspan="11" align="center" class="FormTextC"><b>Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned</b></th></tr><tr><th width="36%" valign="top" rowspan="2" align="left" class="MedSmallFormText">1. Title of Security (Instr. 
      3)
   </th><th width="6%" valign="top" rowspan="2" align="left" class="SmallFormText">2. Transaction Date
      (Month/Day/Year)</th><th width="5%" valign="top" rowspan="2" align="left" class="SmallFormText">2A. Deemed Execution Date, if any
      (Month/Day/Year)</th><th width="7%" valign="top" colspan="2" align="left" class="SmallFormText">3. Transaction Code (Instr. 
      8)
   </th><th width="19%" valign="top" colspan="3" align="left" class="SmallFormText">4. Securities Acquired (A) or Disposed Of (D) (Instr. 
      3, 4 and 5)
   </th><th width="11%" valign="top" rowspan="2" align="left" class="SmallFormText">5. 
      Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 
      3 and 4)
   </th><th width="9%" valign="top" rowspan="2" align="left" class="SmallFormText">6. Ownership Form: Direct (D) or Indirect (I) (Instr. 
      4)
   </th><th width="8%" valign="top" rowspan="2" align="left" class="SmallFormText">7. Nature of Indirect Beneficial Ownership (Instr. 
      4)
   </th></tr><tr><th width="4%" align="center" class="SmallFormText">Code</th><th width="3%" align="center" class="SmallFormText">V</th><th width="8%" align="center" class="SmallFormText">Amount</th><th width="5%" align="center" class="SmallFormText">(A) or (D)</th><th width="6%" align="center" class="SmallFormText">Price</th></tr></thead><tbody><tr><td align="left"><span class="FormData">Common Stock</span></td><td align="center"><span class="FormData">07/10/2026</span></td><td align="center"><span class="FormData"></span></td><td align="center"><span class="SmallFormData">M</span></td><td align="center"></td><td align="center"><span class="FormData">150,000</span></td><td align="center"><span class="FormData">A</span></td><td align="center"><span class="FootnoteData"><sup>(1)</sup></span></td><td align="center"><span class="FormData">1,811,936</span></td><td align="center"><span class="FormData">I</span></td><td align="left"><span class="FormData">See Footnote</span><span class="FootnoteData"><sup>(7)</sup></span></td></tr><tr><td align="left"><span class="FormData">Common Stock</span><span class="FootnoteData"><sup>(2)</sup></span></td><td align="center"><span class="FormData">07/10/2026</span></td><td align="center"><span class="FormData"></span></td><td align="center"><span class="SmallFormData">M</span></td><td align="center"></td><td align="center"><span class="FormData">174,324</span></td><td align="center"><span class="FormData">A</span></td><td align="center"><span class="FootnoteData"><sup>(1)</sup></span></td><td align="center"><span class="FormData">1,986,260</span></td><td align="center"><span class="FormData">I</span></td><td align="left"><span class="FormData">See Footnote</span><span class="FootnoteData"><sup>(7)</sup></span></td></tr><tr><td align="left"><span class="FormData">Common Stock</span></td><td align="center"></td><td align="center"></td><td align="center"></td><td align="center"></td><td align="center"></td><td align="center"></td><td align="center"></td><td align="center"><span class="FormData">115,321</span></td><td align="center"><span class="FormData">D</span></td><td align="left"></td></tr></tbody></table><table width="100%" border="1" cellspacing="0" cellpadding="4"><thead><tr><th width="100%" valign="top" colspan="16" align="center" class="FormTextC"><b>Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned</b><br><b>(e.g., puts, calls, warrants, options, convertible securities)</b></th></tr><tr><th width="13%" valign="top" rowspan="2" align="left" class="SmallFormText">1. Title of Derivative Security (Instr. 
      3)
   </th><th width="5%" valign="top" rowspan="2" align="left" class="SmallFormText">2. Conversion or Exercise Price of Derivative Security
   </th><th width="5%" valign="top" rowspan="2" align="left" class="SmallFormText">3. Transaction Date
      (Month/Day/Year)</th><th width="5%" valign="top" rowspan="2" align="left" class="SmallFormText">3A. Deemed Execution Date, if any
      (Month/Day/Year)</th><th width="9%" valign="top" colspan="2" align="left" class="SmallFormText">4. Transaction Code (Instr. 
      8)
   </th><th width="10%" valign="top" colspan="2" align="left" class="SmallFormText">5. 
      Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 
      3, 4 and 5)
   </th><th width="9%" valign="top" colspan="2" align="left" class="SmallFormText">6. Date Exercisable and Expiration Date 
      (Month/Day/Year)</th><th width="17%" valign="top" colspan="2" align="left" class="SmallFormText">7. Title and Amount of Securities Underlying Derivative Security (Instr. 
      3 and 4)
   </th><th width="6%" valign="top" rowspan="2" align="left" class="SmallFormText">8. Price of Derivative Security (Instr. 
      5)
   </th><th width="6%" valign="top" rowspan="2" align="left" class="SmallFormText">9. 
      Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 
      4)
   </th><th width="6%" valign="top" rowspan="2" align="left" class="SmallFormText">10. Ownership Form: Direct (D) or Indirect (I) (Instr. 
      4)
   </th><th width="7%" valign="top" rowspan="2" align="left" class="SmallFormText">11. Nature of Indirect Beneficial Ownership (Instr. 
      4)
   </th></tr><tr><th width="4%" valign="bottom" align="center" class="SmallFormText">Code</th><th width="4%" valign="bottom" align="center" class="SmallFormText">V</th><th width="5%" valign="bottom" align="center" class="SmallFormText">(A)</th><th width="5%" valign="bottom" align="center" class="SmallFormText">(D)</th><th width="5%" valign="bottom" align="center" class="SmallFormText">Date Exercisable</th><th width="4%" valign="bottom" align="center" class="SmallFormText">Expiration Date</th><th width="10%" valign="bottom" align="center" class="SmallFormText">Title</th><th width="7%" valign="bottom" align="center" class="SmallFormText">Amount or Number of Shares</th></tr></thead><tbody><tr><td align="left"><span class="SmallFormData">Restricted Stock Units</span></td><td align="center"><span class="FootnoteData"><sup>(3)</sup></span></td><td align="center"><span class="SmallFormData">07/10/2026</span></td><td align="center"><span class="SmallFormData"></span></td><td align="center"><span class="SmallFormData">A</span></td><td align="center"></td><td align="center"><span class="SmallFormData">150,000</span></td><td align="center"></td><td align="center"><span class="SmallFormData">
                
            </span><span class="FootnoteData"><sup>(4)</sup></span></td><td align="center"><span class="SmallFormData">
                
            </span><span class="FootnoteData"><sup>(4)</sup></span></td><td align="center"><span class="SmallFormData">Common Stock</span></td><td align="center"><span class="FormData">150,000</span></td><td align="center"><span class="SmallFormText">$</span><span class="SmallFormData">0</span></td><td align="center"><span class="SmallFormData">699,323</span></td><td align="center"><span class="SmallFormData">D</span></td><td align="left"></td></tr><tr><td align="left"><span class="SmallFormData">Restricted Stock Units</span></td><td align="center"><span class="FootnoteData"><sup>(3)</sup></span></td><td align="center"><span class="SmallFormData">07/10/2026</span></td><td align="center"><span class="SmallFormData"></span></td><td align="center"><span class="SmallFormData">M</span></td><td align="center"></td><td align="center"></td><td align="center"><span class="SmallFormData">150,000</span></td><td align="center"><span class="SmallFormData">
                
            </span><span class="FootnoteData"><sup>(4)</sup></span></td><td align="center"><span class="SmallFormData">
                
            </span><span class="FootnoteData"><sup>(4)</sup></span></td><td align="center"><span class="SmallFormData">Common Stock</span></td><td align="center"><span class="FormData">150,000</span></td><td align="center"><span class="SmallFormText">$</span><span class="SmallFormData">0</span></td><td align="center"><span class="SmallFormData">549,323</span></td><td align="center"><span class="SmallFormData">D</span></td><td align="left"></td></tr><tr><td align="left"><span class="SmallFormData">Options to Purchase Common Stock</span></td><td align="center"><span class="SmallFormText">$</span><span class="SmallFormData">0.31</span></td><td align="center"><span class="SmallFormData">07/10/2026</span></td><td align="center"><span class="SmallFormData"></span></td><td align="center"><span class="SmallFormData">A</span></td><td align="center"></td><td align="center"><span class="SmallFormData">1,045,712</span></td><td align="center"></td><td align="center"><span class="SmallFormData">
                
            </span><span class="FootnoteData"><sup>(5)</sup></span></td><td align="center"><span class="SmallFormData">07/10/2031</span></td><td align="center"><span class="SmallFormData">Common Stock</span></td><td align="center"><span class="FormData">1,045,712</span></td><td align="center"><span class="SmallFormText">$</span><span class="SmallFormData">0</span></td><td align="center"><span class="SmallFormData">1,177,023</span></td><td align="center"><span class="SmallFormData">D</span></td><td align="left"></td></tr><tr><td align="left"><span class="SmallFormData">Options to Purchase Common Stock</span></td><td align="center"><span class="SmallFormText">$</span><span class="SmallFormData">0.31</span></td><td align="center"><span class="SmallFormData">07/10/2026</span></td><td align="center"><span class="SmallFormData"></span></td><td align="center"><span class="SmallFormData">A</span></td><td align="center"></td><td align="center"><span class="SmallFormData">150,000</span></td><td align="center"></td><td align="center"><span class="SmallFormData">
                
            </span><span class="FootnoteData"><sup>(6)</sup></span></td><td align="center"><span class="SmallFormData">07/10/2031</span></td><td align="center"><span class="SmallFormData">Common Stock</span></td><td align="center"><span class="FormData">150,000</span></td><td align="center"><span class="SmallFormText">$</span><span class="SmallFormData">0</span></td><td align="center"><span class="SmallFormData">1,327,023</span></td><td align="center"><span class="SmallFormData">D</span></td><td align="left"></td></tr></tbody></table><table border="0" width="100%"><tr><td class="MedSmallFormText"><b>Explanation of Responses:</b></td></tr><tr><td class="FootnoteData">1. Represents shares acquired on vesting and settlement of restricted stock units ("RSUs").</td></tr><tr><td class="FootnoteData">2. Represents shares acquired upon vesting and settlement of RSUs granted to the Reporting Person on July 11, 2025.</td></tr><tr><td class="FootnoteData">3. Each RSU represents a contingent right to receive one share of the Issuer's common stock.</td></tr><tr><td class="FootnoteData">4. Reflects the one-time grant under the Issuer's 2024 Stock Incentive Plan, as amended, on July 10, 2026 (the "Grant Date") of 150,000 RSUs, each representing the right to receive one share of the Issuer's common stock. The RSUs vested and settled on the Grant Date.</td></tr><tr><td class="FootnoteData">5. On July 10, 2026, the Reporting Person was granted options to purchase an aggregate of 1,045,712 shares of the Issuer's Common Stock pursuant to the Issuer's 2024 Stock Incentive Plan, each representing a contingent right to receive one share of the Issuer's Common Stock. The grant vests as follows: 62.5% on the Grant Date and 37.5% on the first anniversary of the Grant Date.</td></tr><tr><td class="FootnoteData">6. Reflects the one-time grant under the Reporting Person's Employment Agreement, on July 10, 2026 of stock options to purchase an aggregate of 150,000 shares of the Issuer's Common Stock. The stock options vested immediately on July 10, 2026.</td></tr><tr><td class="FootnoteData">7. Shares are held indirectly by Justin Kenna through Kenna Holdings Inc. Justin Kenna is the sole director and shareholder of Kenna Holdings Inc.</td></tr></table><table width="100%" border="0"><tr><td width="60%"></td><td width="20%"><u><span class="FormData">/s/ Justin Kenna</span></u></td><td width="20%"><u><span class="FormData">07/14/2026</span></u></td></tr><tr><td></td><td class="MedSmallFormText">** Signature of Reporting Person</td><td class="MedSmallFormText">Date</td></tr><tr><td colspan="3" class="MedSmallFormText">Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.</td></tr><tr><td colspan="3" class="MedSmallFormText">* If the form is filed by more than one reporting person, 
                  <i>see</i>

                  Instruction 
                  4

                  (b)(v).</td></tr><tr><td colspan="3" class="MedSmallFormText">** Intentional misstatements or omissions of facts constitute Federal Criminal Violations 
                  <i>See</i>

                  18 U.S.C. 1001 and 15 U.S.C. 78ff(a).</td></tr><tr><td colspan="3" class="MedSmallFormText">Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, 
                  <i>see</i>

                  Instruction 6 for procedure.</td></tr><tr><td colspan="3" class="MedSmallFormText"><b>Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.</b></td></tr><tr><td colspan="3" class="MedSmallFormText"><b>* Form 4: SEC 1474 (03-26)</b></td></tr></table></body></html>
