X0306 4 2021-06-23 0 0000944480 GSE SYSTEMS INC GVP 0001678778 Pepe Emmett Anthony 6940 COLUMBIA GATEWAY DRIVE SUITE 470 COLUMBIA MD 21046 0 1 0 0 Chief Financial Officer Common Stock 2021-06-23 4 A 0 106061 0 A 265071 D These shares of common stock represent restricted share units granted pursuant to a Restricted Share Unit Agreement between Mr. Pepe and the Issuer and are subject to forfeiture. The restricted share units awarded vest in one installment of 17,676 shares on June 30, 2021, nine installments of 8,838 shares on each of September 30, 2021, December 31, 2021, March 31, 2022, June 30, 2022, September 30, 2022, December 31, 2022, March 31, 2023, June 30, 2023, and September 30, 2023; and one installment of 8,843 shares on December 31, 2023. These shares were granted to Mr. Pepe for his services as the Chief Financial Officer of the Issuer. /s/ Emmett Pepe 2021-06-25