FERTITTA TILMAN J 4

What Happened
Tilman J. Fertitta, reported as a 10% owner of Wynn Resorts Ltd. (WYNN), disposed of a total of 1,700,000 derivative-linked shares in a series of open-market or private sales on March 16–17, 2026. The transactions were executed in multiple blocks (75,000- and 200,000-share lots) at prices ranging from $2.64 to $6.34 per share, generating aggregate proceeds of approximately $7.78 million. These are sales (S) of derivative securities as reported on the Form 4.

Key Details

• Transaction dates: March 16–17, 2026. Prices ranged $2.64–$6.34 per share. Total shares sold: 1,700,000. Approximate proceeds: $7,778,781.
• Block breakdown (examples): four blocks of 75,000 shares and seven blocks of 200,000 shares at various prices (see filing for each line item).
• Shares owned after the transactions: not specified in the provided summary of the filing.
• Footnotes: F1 notes Mr. Fertitta is the sole shareholder of Fertitta Entertainment, Inc., which in turn owns Hospitality Headquarters, Inc. and Fertitta Entertainment, LLC; he may be deemed to share beneficial ownership of securities held by those entities. F2/F3 indicate options were held of record by Hospitality Headquarters, Inc. and Fertitta Entertainment, LLC.
• Filing timeliness: Form filed March 18, 2026 for transactions on March 16–17 — appears filed within the usual Section 16 reporting window (not marked late).

Context

• These were sales of derivative-linked securities (reported as “Derivative” disposals). That typically means the transactions involved securities tied to options or similar instruments held of record by related entities; the filing’s footnotes identify the record holders.
• As a 10% owner, Fertitta’s transactions reflect institutional/large-holder activity rather than routine employee trading. Sales are not by themselves a clear signal of company prospects; they can reflect portfolio or tax decisions.