FERTITTA TILMAN J 4

What Happened Tilman J. Fertitta, reported as a 10% owner of Wynn Resorts Ltd. (WYNN), disposed of 900,000 derivative shares in four sales on February 18, 2026, for a combined proceeds of $5,844,465. The transactions were recorded as open market or private sales (code S) of derivative securities (options held of record by entities controlled by Mr. Fertitta).

Key Details

• Transaction date: 2026-02-18; Form filed: 2026-02-20 (filing appears timely).
• Trades:
  • 300,000 shares @ $7.62 = $2,284,500
  • 300,000 shares @ $5.98 = $1,793,100
  • 150,000 shares @ $6.69 = $1,003,200
  • 150,000 shares @ $5.09 = $763,665
• Total: 900,000 shares sold for $5,844,465.
• Shares owned after transaction: not specified in the filing.
• Footnotes of note:
  • F1: Mr. Fertitta is sole shareholder of Fertitta Entertainment, Inc., which owns Hospitality Headquarters, Inc. and indirectly Fertitta Entertainment, LLC; he may be deemed to share beneficial ownership of securities held by those entities.
  • F2/F3: The options/derivative positions sold are held of record by Fertitta Entertainment, LLC and Hospitality Headquarters, Inc.
• Transaction type: derivative sale (options/derivative securities disposed), reported as open market or private sale.

Context These were sales of derivative securities associated with entities controlled by a 10% owner, rather than a straightforward executive open-market purchase. Sales by large shareholders can be routine (liquidity, estate planning, entity-level transactions) and do not, by themselves, indicate management’s view of the company’s prospects. The filing is timely (reported two days after the transaction).