Todd George - 22 Sep 2022 Form 4 Insider Report for PENN Entertainment, Inc. (PENN)

Role: EVP, Operations
Signature: Harper Ko, Attorney-in-Fact for Todd George
Issuer symbol: PENN
Transactions as of: 22 Sep 2022
Net transactions value: -$291,079
Form type: 4
Filing time: 26 Sep 2022, 16:05:45 UTC
Previous filing: 03 Mar 2022
Next filing: 05 Jan 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PENN	Common Stock	Options Exercise	$0	+9,989	+25%	$0.000000	50,701	22 Sep 2022	Direct	F1
transaction	PENN	Common Stock	Disposed to Issuer	$291,079	-9,989	-20%	$29.14	40,712	22 Sep 2022	Direct

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	PENN	Phantom Stock Units	Options Exercise		+9,989	+700%		11,415	22 Sep 2022	Common Stock	9,989		Direct	F1

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

Explanation of Responses:

Id	Content
F1	Each phantom stock unit is the economic equivalent of one share of the registrant's common stock. The phantom stock units vest in three installments as follows: 7,135 phantom stock units vested on September 22, 2021, 9,989 phantom stock units vested on September 22, 2022, and 11,415 phantom stock units vest on September 22, 2023.