Gary L. Carano - Jan 24, 2023 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 24, 2023
Transactions value $: -$457,971
Form type: 4
Date filed: 1/26/2023, 07:05 PM
Previous filing: Jan 4, 2023
Next filing: Jan 31, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CZR	Common Stock	Options Exercise	$0	+22.8K	+9.65%	$0.00	259K	Jan 24, 2023	Direct
transaction	CZR	Common Stock	Tax liability	-$458K	-8.96K	-3.46%	$51.09	250K	Jan 24, 2023	Direct
holding	CZR	Common Stock						8.6M	Jan 24, 2023	See Footnote	F1
holding	CZR	Common Stock						40K	Jan 24, 2023	By Spouse
holding	CZR	Common Stock						20K	Jan 24, 2023	By Trust

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	Options Exercise	$0	-22.8K	-100%	$0.00^*	0	Jan 24, 2023	Common Stock	22.8K		Direct	F2, F3

* 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	The restricted stock units were granted on January 24, 2020 pursuant to the Amended and Restated 2015 Equity Incentive Plan and vested on January 24, 2023.