Gary L. Carano - 01 Jan 2022 Form 4 Insider Report for Caesars Entertainment, Inc. (CZR)

Role: Exec. Chairman of the Board, Director
Signature: /s/ Jill Eaton by power of attorney
Issuer symbol: CZR
Transactions as of: 01 Jan 2022
Net transactions value: -$921,801
Form type: 4
Filing time: 04 Jan 2022, 20:07:22 UTC
Previous filing: 25 Aug 2021
Next filing: 27 Jan 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CZR	Common Stock	Options Exercise	$0	+28,397	+17%	$0.000000	195,768	01 Jan 2022	Direct
transaction	CZR	Common Stock	Tax liability	$921,801	-9,862	-5%	$93.47	185,906	01 Jan 2022	Direct
holding	CZR	Common Stock						40,000	01 Jan 2022	By Spouse
holding	CZR	Common Stock						8,604,325	01 Jan 2022	See Footnote	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CZR	Restricted Stock Unit	Options Exercise	$0	-28,397	-100%	$0.000000^*	0	01 Jan 2022	Common Stock	28,397		Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares are owned directly by Recreational Enterprises, Inc. (REI). The reporting person has a direct ownership interest in REI and an indirect ownership interest in REI through the Gary L. Carano S Corporation Trust ("S Corporation Trust") and the Gary L. Carano Qualified S Corporation Trust. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
F2	Restricted stock units convert into common stock on a one-for-one basis.
F3	The restricted stock units were granted on January 25, 2019 pursuant to the 2015 Equity Incentive Plan, subject to achievement of specified performance objectives which were determined to have been achieved by the Board of the Issuer on February 18, 2021. The restricted stock units vested on January 1, 2022.