Todd George - 03 Jan 2024 Form 4 Insider Report for PENN Entertainment, Inc. (PENN)

Signature
/s/ Joshua Sidsworth, Attorney-In-Fact for Todd George
Issuer symbol
PENN
Transactions as of
03 Jan 2024
Net transactions value
-$63,694
Form type
4
Filing time
05 Jan 2024, 16:47:47 UTC
Previous filing
26 Sep 2023
Next filing
04 Mar 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PENN Common Stock Options Exercise $75,788 +5,375 +14% $14.10 44,347 03 Jan 2024 Direct F1
transaction PENN Common Stock Disposed to Issuer $139,481 -5,375 -12% $25.95 38,972 03 Jan 2024 Direct 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 PENN Stock Appreciation Right Options Exercise $0 -5,375 -100% $0.000000* 0 03 Jan 2024 CommonStock 5,375 $14.10 Direct F1
transaction PENN Stock Options (Right toBuy) Award $0 +118,679 $0.000000 118,679 03 Jan 2024 CommonStock 118,679 $25.95 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The dispositions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person. The stock appreciation rights exercised by the reporting person on January 3, 2024 were scheduled to expire on January 4, 2024.
F2 The stock options vest in four equal annual installments beginning on January 3, 2025.