Saul Reibstein - Feb 6, 2023 Form 4 Insider Report for PENN Entertainment, Inc. (PENN)

Role
Director
Signature
/s/ Harper Ko, Attorney-In-Fact for Saul Reibstein
Stock symbol
PENN
Transactions as of
Feb 6, 2023
Transactions value $
-$809,658
Form type
4
Date filed
2/7/2023, 03:05 PM
Previous filing
Jan 5, 2023
Next filing
May 25, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PENN Common Stock Options Exercise $508K +39.5K +106.48% $12.87 76.5K Feb 6, 2023 Direct
transaction PENN Common Stock Sale -$1.32M -39.5K -51.57% $33.39 37.1K Feb 6, 2023 Direct F1
holding PENN Common Stock 150 Feb 6, 2023 By Spouse F2

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 Stock Options (Right to Buy) Options Exercise $0 -39.5K -100% $0.00* 0 Feb 6, 2023 Common Stock 39.5K $12.87 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $33.00 to $33.98, inclusive. The reporting person undertakes to provide to PENN Entertainment, Inc., any security holder of PENN Entertainment, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F2 The reporting person disclaims beneficial ownership of the shares owned by his spouse and this report should not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.
F3 The stock options vested in four installments on February 9, 2017, February 9, 2018, February 9, 2019, and February 9, 2020. The stock options exercised by the reporting person on February 6, 2023 were scheduled to expire on February 9, 2023.