Carano Anthony L. 4

What Happened Anthony L. Carano, President and Chief Operating Officer of Caesars Entertainment, was granted 93,718 restricted stock units (RSUs) on January 23, 2026. The award is reported as a derivative grant (code A) with an acquisition price of $0.00 — i.e., a compensation grant rather than a market purchase. The RSUs convert into common stock on a one-for-one basis when they vest.

Key Details

• Transaction date: January 23, 2026; Form 4 filed January 27, 2026 (filed within the typical 2-business-day reporting window).
• Grant size: 93,718 RSUs; reported acquisition price $0.00 (award).
• Vesting: RSUs vest in equal installments on January 29, 2027; January 29, 2028; and January 29, 2029. RSUs do not expire. (Footnotes F1–F2)
• Shares owned following the reported transaction: not specified in this filing (the award is reported as derivative securities until vesting).
• Plan: Granted pursuant to the Amended and Restated 2015 Equity Incentive Plan.

Context This filing documents a standard executive compensation grant rather than a purchase or sale. Because these are restricted stock units, they are a deferred equity award that will convert into common shares upon vesting; they do not represent immediately tradable shares. Such grants are common as part of executive pay and do not, by themselves, indicate a buy or sell signal.