Carano Anthony L. 4

What Happened Anthony L. Carano, President and Chief Operating Officer of Caesars Entertainment (CZR), had 11,533 restricted stock units (RSUs) vest and settle into common stock on February 17, 2026 (award/acquisition). To cover tax withholding, 4,539 of those shares were surrendered (disposed) at an effective withholding price of $18.95 per share, totaling $86,014. The award shares are reported at $0 acquisition cost because they were compensation (RSUs) rather than an open-market purchase.

Key Details

• Transaction dates: Period of report 2026-02-17; Form 4 filed 2026-02-19 (timely filing).
• Award: 11,533 RSUs vested and settled one-for-one into common shares (code A).
• Tax withholding: 4,539 shares withheld/disposed to satisfy tax obligations at $18.95/share = $86,014 (code F).
• Origin of award: RSUs granted January 27, 2023 under the Amended and Restated 2015 Equity Incentive Plan; vesting was performance-based and the Board certified achievement effective with the 10-K filed 02/17/2026 (see footnote).
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context These were earned, performance-based RSUs that vested and were settled in stock; the withholding of 4,539 shares to cover taxes is a routine, administrative step (a cashless/withholding settlement) and does not represent an open-market sale for investment reasons. RSU awards are compensation and should be viewed differently than purchases or discretionary sales by insiders.