Fanger Lewis A. 4

What Happened
Lewis A. Fanger, President, Chief Financial Officer & Treasurer and a director of Full House Resorts (FLL), exercised 50,000 stock options on May 8, 2026. The exercise price was $1.70 per share, so the exercise value was $85,000 (50,000 × $1.70). To satisfy the exercise price/tax withholding, the issuer withheld 33,074 shares (valued at $2.57 each, totaling $85,000). The filing also reports the corresponding disposition/cancellation of the derivative option instrument (50,000 units at $0.00). Net new shares received by Fanger = 50,000 acquired − 33,074 withheld = 16,926 shares.

Key Details

• Transaction date: 2026-05-08.
• Option exercise: 50,000 shares acquired at $1.70/share (total $85,000).
• Tax/exercise withholding: 33,074 shares withheld at $2.57/share (total $85,000) — reported as a disposition (code F).
• Derivative disposition: 50,000 units reported disposed at $0.00 (reflects option cancellation on exercise).
• Footnotes: F1 = issuer withheld shares to satisfy exercise price; F2 = the option fully vested on May 10, 2019.
• Shares owned after the transaction: not stated in the filing.
• Filing timeliness: the report lists the same date for the transaction and filing (no late filing noted).

Context
This was a standard option exercise with a cashless withholding to cover the exercise cost/taxes — a routine administrative step that results in fewer net new shares than gross exercised. The options were fully vested in 2019 (per footnote), so this is not a new grant. Cashless withholding and derivative cancellation are common and do not, by themselves, indicate a change in insider sentiment.