FERTITTA TILMAN J 4

What Happened
Tilman J. Fertitta, a reported 10% owner of Wynn Resorts (WYNN), reported multiple dispositions of derivative securities on May 27–28, 2026. The filing shows four open-market/private sales of derivative positions totaling 695,900 shares with the following breakdown:

• 225,000 shares sold May 27 at $4.08 — $917,258
• 225,000 shares sold May 27 at $3.85 — $865,283
• 83,000 shares sold May 28 at $5.25 — $435,750
• 161,900 shares sold May 28 at $5.50 — $890,531
  Aggregate proceeds reported ≈ $3,108,822. These are reported as derivative dispositions (not direct sales of common stock).

Key Details

• Transaction dates: May 27–28, 2026; Form 4 filed May 29, 2026 (appears timely).
• Prices and values: see per-trade breakdown above; total ≈ $3.11M.
• Shares owned after transaction: not disclosed in the filing.
• Footnotes: F1–F4 note Fertitta’s ownership structure — he is sole shareholder of Fertitta Entertainment, Inc., which owns Hospitality Headquarters, Inc. and Fertitta Entertainment, LLC; the derivative positions/options were held of record by Hospitality Headquarters, Inc., Fertitta Entertainment, LLC, and Mr. Fertitta.
• Transaction type: coded as S (sale) of derivative securities; no 10b5-1 plan or tax-withholding notation in the provided data.

Context

• "Derivative" here indicates these were dispositions of option-related or other derivative positions held of record by related entities and Mr. Fertitta (per footnotes), rather than a straightforward sale of common shares. The filing does not state an exercise and immediate sale (cashless exercise) explicitly.
• As a 10% owner, Fertitta’s transactions reflect substantial, institutional-level holdings and dispositions; sales are common and do not necessarily signal a change in insider sentiment.