Lepori Stephanie 4

What Happened
Stephanie Lepori, Chief Administrative Officer and CAO of Caesars Entertainment, received a grant of 38,715 restricted stock units (RSUs) on January 23, 2026. The Form 4 reports the acquisition price as $0.00 (aggregate $0) because no cash was exchanged; RSUs are a derivative award that convert into common stock on a one-for-one basis upon vesting. This was an equity compensation grant rather than an open-market purchase or sale.

Key Details

• Transaction date and price: 2026-01-23; grant reported at $0.00 per share (aggregate $0) on the Form 4.
• Award type: Restricted stock units (derivative award) granted under the Amended and Restated 2015 Equity Incentive Plan.
• Vesting: RSUs vest in equal installments on Jan 29, 2027; Jan 29, 2028; and Jan 29, 2029.
• Expiration: The restricted stock units do not expire (per filing).
• Shares owned after transaction: Not specified in the filing.
• Filing timeliness: Form 4 filed on Jan 27, 2026 — within the SEC’s two-business-day reporting window for this transaction date.

Context
RSU grants are a common form of executive compensation and do not involve an immediate cash outlay or market purchase/sale. They become valuable only if and when they vest and convert to common shares; therefore, they are compensation-related rather than a direct insider buy/sell signal.