Josh Hirsberg - 03 Feb 2023 Form 4 Insider Report for BOYD GAMING CORP (BYD)

Role: Exec. V.P., Treasurer & CFO
Signature: /s/ Uri Clinton, Attorney-in-Fact for Josh Hirsberg
Issuer symbol: BYD
Transactions as of: 03 Feb 2023
Transactions value $: -$888,800
Form type: 4
Date filed: 03 Feb 2023, 16:28
Previous filing: 26 Jan 2023
Next filing: 23 Feb 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BYD	Common Stock	Options Exercise	$158K	+16K	+4.03%	$9.86^*	413K	03 Feb 2023	Direct	F1
transaction	BYD	Common Stock	Sale	-$1.05M	-16K	-3.87%	$65.41	397K	03 Feb 2023	Direct	F2
holding	BYD	Common Stock						20.5K	03 Feb 2023	By spouse

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	BYD	Employee Stock Option (Right to Buy)	Options Exercise	$0	-16K	-100%	$0.00^*	0	03 Feb 2023	Common Stock	16K	$9.86	Direct	F3

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

Explanation of Responses:

Id	Content
F1	The purchase and sale reported on this Form 4 was completed pursuant to a Rule 10b5-1 Trading Plan adopted by the Reporting Person on 12/15/22.
F2	This transaction was effectuated pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on 12/15/22. The Rule 10b5-1 trading plan, which was structured to include several sale periods, was established as part of the Reporting Person's long-term strategy for asset diversification and financial, retirement, estate and tax planning activities over a period of time.
F3	Options granted under Boyd Gaming Corporation's 2012 Stock Incentive Plan. Vesting plan calls for options to become exercisable at the rate of 33.333% per year on the first day of each successive 12 month period commencing one year from grant date of November 7, 2013.