PENN NATIONAL GAMING INC 4

4 · PENN NATIONAL GAMING INC · Filed Feb 26, 2014

Form 4

Period: 2014-02-24

Sr VP -Regional Operations

Transactions

Award
Phantom Stock Unit
2014-02-24+14,249→ 14,249 total
→ Common Stock (14,249 underlying)
Award
Non Qualified Stock Options (right to buy)
2014-02-24+63,233→ 63,233 total
Exercise: $11.61Exp: 2021-02-24→ Common Stock (63,233 underlying)
Award
Stock Appreciation Right
2014-02-24+7,026→ 7,026 total
Exercise: $11.61Exp: 2021-02-24→ Common Stock (7,026 underlying)

Footnotes (4)

[F1]The Non-Qualified Stock Option is scheduled to vest as follows: 15,809 options on February 24, 2015; 15,808 options on February 24, 2016; 15,808 options on February 24, 2017 and 15,808 options on February 24, 2018.
[F2]The Stock Appreciation Right is scheduled to vest as follows: 1,757 rights on February 24, 2015; 1,757 rights on February 24, 2016; 1,756 rights on February 24, 2017 and 1,756 on February 24, 2018.
[F3]Upon vesting, the recipient is entitled to a cash payment for each unit equal to the fair market value on the vesting date of one share of the Company's common stock.
[F4]The Phantom Stock Unit is scheduled to vest as follows: 3,563 units on February 24, 2015; 3,562 units on February 24, 2016; 3,562 units on February 24, 2017 and 3,562 units on February 24, 2018.

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