FERTITTA TILMAN J 4

What Happened
Tilman J. Fertitta, a reported 10% owner of Wynn Resorts (WYNN), disposed of a total of 600,000 derivative shares in open-market/private sales on March 10–11, 2026, for aggregate proceeds of approximately $2,535,050. The individual transactions were: 100,000 shares at $5.33 ($532,880), 100,000 at $4.10 ($410,000), 100,000 at $3.09 ($309,130), 150,000 at $4.83 ($725,145), and 150,000 at $3.72 ($557,895). These were sales (S) of derivative securities rather than direct purchases.

Key Details

• Transaction dates and prices:
  • 2026-03-10: 100,000 @ $5.33 — $532,880 (derivative)
  • 2026-03-10: 100,000 @ $4.10 — $410,000 (derivative)
  • 2026-03-10: 100,000 @ $3.09 — $309,130 (derivative)
  • 2026-03-11: 150,000 @ $4.83 — $725,145 (derivative)
  • 2026-03-11: 150,000 @ $3.72 — $557,895 (derivative)
• Total sold: 600,000 shares for ~$2,535,050.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes:
  • F1: 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: The options/derivative holdings are recorded in the name of Hospitality Headquarters, Inc.
• Filing timeliness: Form 4 filed 2026-03-12 for transactions on 2026-03-10 and 03-11 — appears to be filed within the standard Form 4 reporting window.

Context
These were sales of derivative securities (often representing option-related shares or similar instruments) rather than open-market purchases. As a 10% owner, Fertitta’s trades can reflect institutional-level rebalancing or tax/estate planning; sales are common and do not, by themselves, indicate company fundamentals. Because the filing lists derivative dispositions and involves entities he controls, the transactions may reflect holdings and actions at the entity level rather than a direct personal brokerage sale.