FERTITTA TILMAN J 4

What Happened
Tilman J. Fertitta, a reported 10% owner of Wynn Resorts (WYNN), disposed of a total of 600,000 shares through derivative-related sales in two sessions in February 2026. The trades reported were: 50,000 shares at $5.55 ($277,500) and 50,000 at $4.23 ($211,650) on Feb 13, and 250,000 at $6.21 ($1,553,500) and 250,000 at $4.75 ($1,188,000) on Feb 17 — total proceeds about $3,230,650. Each trade is listed as an open market or private sale (code S) and recorded as a derivative disposition.

Key Details

• Transaction dates and prices:
  • 2026-02-13: 50,000 @ $5.55 ($277,500) and 50,000 @ $4.23 ($211,650)
  • 2026-02-17: 250,000 @ $6.21 ($1,553,500) and 250,000 @ $4.75 ($1,188,000)
• Total shares sold: 600,000; total proceeds ≈ $3,230,650.
• Transactions are reported as dispositions of derivative securities (the filing lists them as "Derivative").
• Shares owned after the transactions: not disclosed in this Form 4.
• Filing was submitted on 2026-02-18 and covers the above Feb 13 and Feb 17 transactions.
• Footnotes: F1 — 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 options/derivative instruments are held of record by Fertitta Entertainment, LLC.

Context
These are sales (often viewed as routine liquidity or portfolio management) of derivative-related holdings by a 10% owner, not an ordinary employee trade. The filing records the disposals as derivative transactions; it does not state the specific mechanism (e.g., whether shares resulted from option exercises immediately sold). As always, sales by large shareholders are factual disclosures and do not alone indicate company outlook.