Lepori Stephanie 4

What Happened

• Stephanie Lepori, Chief Administrative Officer and CAO of Caesars Entertainment (CZR), had restricted stock units (RSUs) vest and convert into a total of 21,072 shares on January 29, 2026. Of those shares, 8,387 were surrendered/withheld and disposed at $21.28 per share to satisfy tax withholding, yielding roughly $178,475. The remaining converted shares reflect three installment awards (5,063; 6,609; 9,400) that together equal the 21,072 shares.

Key Details

• Transaction date: January 29, 2026; Form 4 filed February 2, 2026 (filed within the usual two-business-day window).
• Conversion entries (code M): 21,072 RSUs converted to common stock at $0 per share (RSUs convert 1-for-1).
• Tax withholding (code F): 8,387 shares disposed at $21.28/share for ~$178,475 to cover tax liability.
• Shares owned after the transaction: not specified in the Form 4.
• Footnotes: RSUs came from grants on Jan 27, 2023; Jan 26, 2024; and Jan 24, 2025 under the Amended and Restated 2015 Equity Incentive Plan. Each installment vested on Jan 29, 2026 and the RSUs do not expire.

Context

• This was a routine RSU vest/settlement with a portion of shares withheld/sold for taxes (a cashless-type settlement), not an open-market purchase or sale indicating new investment. Conversion of RSUs (derivative exercise code M) simply issued shares; the tax-related disposition (code F) reflects standard withholding rather than a market-directed sell.