Felicia Hendrix - 03 Jan 2026 Form 4 Insider Report for PENN Entertainment, Inc. (PENN)

Role: EVP and CFO
Signature: /s/ Joshua Sidsworth, Attorney-In-Fact for Felicia Hendrix
Issuer symbol: PENN
Transactions as of: 03 Jan 2026
Net transactions value: -$104,098
Form type: 4
Filing time: 06 Jan 2026, 17:27:27 UTC
Previous filing: 24 Nov 2025
Next filing: 02 Mar 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Hendrix Felicia	EVP and CFO	825 BERKSHIRE BLVD., SUITE 200, WYOMISSING	/s/ Joshua Sidsworth, Attorney-In-Fact for Felicia Hendrix	06 Jan 2026	0001843979

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PENN	Common Stock	Tax liability	$104,098	-7,010	-5.9%	$14.85	112,438	03 Jan 2026	Direct	F1
transaction	PENN	Common Stock	Award	$0	+62,424	+56%	$0.000000	174,862	05 Jan 2026	Direct	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)	Award	$0	+118,724		$0.000000	118,724	05 Jan 2026	Common Stock	118,724	$14.85	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Reflects Common Stock withheld by the Issuer to satisfy tax withholding obligations upon the vesting of restricted stock units. This is not an open market sale of securities.
F2	Represents restricted stock units that vest in three equal annual installments beginning on January 5, 2027.
F3	The stock options vest in three equal annual installments beginning on January 5, 2027.