Rogers Christopher Byron 4

What Happened

• Christopher Rogers, EVP, Chief Strategy and Legal Officer and Secretary of PENN Entertainment (PENN), was credited with 14,404 restricted stock units on Feb 26, 2026 as a payout from a 2023 performance unit award. The grant was recorded at $0.00 per share (awarded, not purchased).
• To satisfy tax withholding on the vesting, PENN withheld 7,070 shares (disposed) at an effective value of $12.54 per share, totaling about $88,658. After withholding, the insider retained a net 7,334 shares from this award.
• This is an award/vesting transaction (not an open-market sale or purchase) and generally reflects compensation paid upon meeting performance goals rather than a trading signal.

Key Details

• Transaction date: 2026-02-26; Filing date: 2026-03-02 (filed within the standard 2 business days).
• Grant: 14,404 shares (code A) at $0.00; Withholding: 7,070 shares (code F) at $12.54, $88,658 withheld.
• Net shares retained from the award: 7,334 (14,404 granted − 7,070 withheld).
• Footnotes: F1 — units credited from a 2023 performance unit award after meeting a two-year performance goal. F2 — shares withheld by issuer to satisfy tax withholding; explicitly not an open-market sale.

Context

• This was a compensation/vesting event (performance-based restricted units) rather than a purchase (bullish) or a voluntary sale (which can signal liquidity needs or portfolio rebalancing).
• The withholding is a common, internal method companies use to satisfy tax obligations on vested equity; it should not be interpreted as an insider selling shares on the market.