Hirsberg Josh 4

What Happened

• Josh Hirsberg, CFO & Treasurer of Boyd Gaming Corp (BYD), exercised 23,924 stock options at $17.75 per share (cost $424,651) and sold the 23,924 shares in the open market at a weighted-average price of $85.86 per share for proceeds of approximately $2,054,115 on Feb 26, 2026. The Form 4 also lists a companion derivative conversion line reported at $0, which is part of the option-to-stock conversion reporting.

Key Details

• Transaction date: February 26, 2026; Form 4 filed March 2, 2026 (filed on the typical 2-business-day deadline).
• Exercise details: 23,924 options exercised at $17.75 each = $424,651 cash outlay.
• Sale details: 23,924 shares sold in multiple trades; weighted-average sale price $85.86; total proceeds ≈ $2,054,115. (Trades ranged $85.17–$86.19 per footnote.)
• Shares owned after transaction: not provided in the summary data.
• Footnotes: Options were granted under Boyd’s 2012 Stock Incentive Plan (grant date Nov 8, 2016; vesting was 33.333% per year). The seller can provide exact per-trade prices upon request per the filing.
• Reporting note: The filer disclaims beneficial ownership beyond direct holdings or pecuniary interests reported.

Context

• This appears to be a same-day (cashless) exercise and sale: the insider exercised vested options and immediately sold the resulting shares, converting option value to cash. Such transactions are common for executives monetizing vested awards and do not by themselves indicate a change in company outlook.