FERTITTA TILMAN J 4

What Happened
Tilman J. Fertitta, reported as a 10% owner of Wynn Resorts Ltd. (WYNN), disposed of a total of 300,000 shares via derivative sales on July 10, 2026. The three transactions were: 100,000 shares at $4.58 ($458,090), 100,000 shares at $4.34 ($434,270) and 100,000 shares at $4.10 ($410,450), for aggregate proceeds of $1,302,810. These were sales (dispositions) of derivative securities executed as open-market or private sales — a routine sell activity rather than a purchase.

Key Details

• Transaction date: July 10, 2026 (filed on Form 4 dated July 14, 2026). Filing appears timely (reported within the standard two business days).
• Trade details:
  • 100,000 shares sold @ $4.58 = $458,090
  • 100,000 shares sold @ $4.34 = $434,270
  • 100,000 shares sold @ $4.10 = $410,450
  • Total disposed: 300,000 shares for $1,302,810
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Footnotes of note:
  • F1: Fertitta is sole shareholder of Fertitta Entertainment, Inc., which owns Hospitality Headquarters, Inc. and Fertitta Entertainment, LLC; he may be deemed to share beneficial ownership of securities held by these entities.
  • F2: The derivative/options are held of record by Hospitality Headquarters, Inc.
• Transaction type: Reported as derivative disposition (code S) — not a direct open-market purchase of common stock.

Context
As a reported 10% owner, Fertitta’s transactions reflect institutional/insider-level dispositions rather than an operating executive’s routine salary-related sales; they should be interpreted as sales activity, not an affirmative buy signal. Because these were derivative sales (options/derivative interests held by related entities), they may involve entity-level holdings and record-keeping (see footnotes) rather than personal retail-style trades. The filing is informational — it does not explain motivation.