Gary L. Carano - Jan 28, 2022 Form 4 Insider Report for Caesars Entertainment, Inc. (CZR)

Role: Exec. Chairman of the Board, Director
Signature: /s/ Jill Eaton by power of attorney
Stock symbol: CZR
Transactions as of: Jan 28, 2022
Transactions value $: -$209,690
Form type: 4
Date filed: 2/1/2022, 06:42 PM
Previous filing: Jan 27, 2022
Next filing: Feb 25, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CZR	Common Stock	Options Exercise	$0	+7K	+3.39%	$0.00	213K	Jan 29, 2022	Direct
transaction	CZR	Common Stock	Tax liability	-$210K	-2.75K	-1.29%	$76.14	211K	Jan 29, 2022	Direct
holding	CZR	Common Stock						8.6M	Jan 28, 2022	See Footnote	F1
holding	CZR	Common Stock						40K	Jan 28, 2022	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	CZR	Restricted Stock Unit	Award	$0	+4.49K		$0.00	4.49K	Jan 28, 2022	Common Stock	4.49K		Direct	F2, F3
transaction	CZR	Restricted Stock Unit	Options Exercise	$0	-7K	-33.33%	$0.00	14K	Jan 29, 2022	Common Stock	7K		Direct	F2, F4

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

Explanation of Responses:

Id	Content
F1	These shares are owned directly by Recreational Enterprises, Inc. (REI). The reporting person has a direct ownership interest in REI and an indirect ownership interest in REI through the Gary L. Carano S Corporation Trust ("S Corporation Trust") and the Gary L. Carano Qualified S Corporation Trust. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
F2	Restricted stock units convert into common stock on a one-for-one basis.
F3	Restricted stock units were granted on January 28, 2022 pursuant to the Amended and Restated 2015 Equity Incentive Plan and will vest in equal installments on each of January 29, 2023, January 29, 2024, and January 29, 2025.
F4	The restricted stock units were granted on January 29, 2021 pursuant to the Amended and Restated 2015 Equity Incentive Plan and vested on January 29, 2022.