FERTITTA TILMAN J 4

What Happened

• Tilman J. Fertitta, reported as a 10% owner, sold a total of 500,000 shares in five derivative dispositions on Feb 9, 2026. Each tranche was 100,000 shares sold at different prices: $6.80, $5.27, $4.33, $3.30 and $2.61, producing proceeds of $680,010; $527,280; $432,510; $329,730; and $260,920, respectively — about $2,230,450 total. The filing classifies these as "Derivative" sales (S), indicating the transactions involved derivative securities or interests held of record by entities tied to Mr. Fertitta.

Key Details

• Transaction date: Feb 9, 2026 (Filed: Feb 11, 2026)
• Tranches: 5 sales of 100,000 shares each at $6.80, $5.27, $4.33, $3.30, $2.61
• Total shares sold: 500,000; total proceeds: ~$2.23 million
• Shares owned after transaction: not specified in the provided filing details
• Footnotes: F1 notes Mr. Fertitta is sole shareholder of Fertitta Entertainment, Inc., which holds related entities — he may be deemed to share beneficial ownership. F2 notes the options/derivative interests are held of record by Hospitality Headquarters, Inc.
• Timeliness: Reported on Feb 11 for trades on Feb 9 (no late filing flag indicated)

Context

• These are sales, not purchases, so they are not a bullish signal; derivative designation suggests the transactions related to options or other derivative holdings held by entities controlled by Mr. Fertitta rather than a straightforward open-market sale of personally held common stock.
• As a 10% owner acting through affiliated entities, this is institutional insider activity; such sales can be routine or for non-investment reasons — the filing itself does not state motive.