Papanier George T. 4

What Happened

• George T. Papanier, President and director of Bally's Corporation, received 30,357 shares on March 23, 2026 when performance units vested (transaction code A). The company withheld 11,946 of those shares to satisfy tax withholding obligations (transaction code F) valued at $12.11 per share, or $144,666. Net shares delivered to Papanier were 18,411. The award resulted from performance units granted earlier (35,714 target units) that vested below target based on 2025 performance.

Key Details

• Transaction dates: March 23, 2026 (reported on Form 4 filed March 25, 2026) — filing appears timely.
• Award: 30,357 shares issued @ $0.00 reported acquisition price (performance units vesting).
• Tax withholding: 11,946 shares withheld @ $12.11 (disposed) = $144,666.
• Net shares received: 18,411 shares (30,357 issued minus 11,946 withheld).
• Footnotes: F1 explains the performance-unit grant and partial vesting; F2 explains share withholding to satisfy tax obligations.
• Shares owned after the transaction: not disclosed in the provided filing.

Context

• This was a vesting of performance-based awards, not an open-market purchase or sale. The withholding of shares to cover taxes is a routine administrative step (a cashless withholding), not a market sale decision by the insider. Performance-unit vesting reflects corporate performance metrics for 2025 rather than a direct insider trade signal.