FERTITTA TILMAN J 4

What Happened Tilman J. Fertitta, reported as a 10% owner of Wynn Resorts Ltd. (WYNN), disposed of 850,000 derivative shares in transactions reported on a Form 4. The sales occurred Feb 5–6, 2026 across six trades, at prices ranging from $3.55 to $7.42 per share, totaling approximately $4,517,750. These were sales (transaction code “S”) of derivative securities, not open-market purchases.

Key Details

• Transaction dates and amounts:
  • 2026-02-05: 150,000 @ $5.80 = $870,000 (Derivative)
  • 2026-02-05: 150,000 @ $4.57 = $685,425 (Derivative)
  • 2026-02-05: 150,000 @ $3.55 = $532,665 (Derivative)
  • 2026-02-06: 200,000 @ $7.42 = $1,484,920 (Derivative)
  • 2026-02-06: 100,000 @ $5.27 = $527,400 (Derivative)
  • 2026-02-06: 100,000 @ $4.17 = $417,340 (Derivative)
• Total: 850,000 shares sold for ~ $4,517,750.
• Shares owned after transaction: Not specified in the filing.
• Footnotes:
  • F1: Mr. Fertitta is sole shareholder of Fertitta Entertainment, Inc., which controls related entities; he may be deemed to share beneficial ownership of securities held by those entities.
  • F2: The derivative/options were held of record by Hospitality Headquarters, Inc.
• Timeliness: Form 4 was filed Feb 9, 2026 for transactions on Feb 5–6; filing is within the required reporting window (not marked late).

Context

• These were dispositions of derivative securities (the filing notes options/derivative holdings held of record by an affiliated entity). Derivative sales often reflect exercises or transfers from affiliated entities rather than direct executive purchases — the filing does not state motive.
• As a reported 10% owner, Fertitta’s trades reflect transactions by a major shareholder/affiliated entities rather than routine employee stock purchases; retail investors should view sales as liquidity events rather than explicit negative signals about company fundamentals.