BYD Form 144: Insider proposes $8.3M sale of 100,000 Boyd Gaming shares

Rhea-AI Filing Summary

Form 144 notice from an insider of Boyd Gaming Corporation (BYD) reports a proposed sale of 100,000 shares of Common Stock through UBS Financial Services with an aggregate market value of $8,300,000. The filing shows total shares outstanding of 80,184,203, and names the approximate sale date as 08/18/2025 on the NYSE. The securities listed were acquired primarily through company equity awards (RSUs and PSUs) on dates between 12/05/2021 and 02/28/2024, totaling multiple award lots. The filer certifies no undisclosed material information and indicates no other sales in the past three months. This notice documents an anticipated insider sale and fulfills Rule 144 disclosure requirements.

Positive

• Regulatory compliance: The filer submitted a Form 144 disclosing the proposed sale, fulfilling Rule 144 notice requirements.
• Transparency on holdings: Acquisition dates and grant types (RSU/PSU) are clearly listed for the securities to be sold.

Negative

• Insider sale announced: Proposed sale of 100,000 shares (aggregate value $8.3M) could be perceived negatively by some investors despite its small size versus outstanding shares.
• No 10b5-1 plan date provided: The form text references trading plans but does not show a plan adoption date within the provided content.

Insights

Securities Analyst

TL;DR: Insider plans to sell 100,000 BYD shares (~$8.3M) via UBS on 08/18/2025; size appears modest versus total shares outstanding.

The filing discloses a single proposed sale of 100,000 common shares valued at $8.3 million and identifies the lots as company-issued RSUs and PSUs awarded between 2021 and 2024. Relative to the disclosed 80,184,203 shares outstanding, the sale represents a small percentage, suggesting limited immediate dilution or market impact. The notice is routine compliance with Rule 144 and provides clear acquisition dates and payment nature. Investors should view this as a standard insider liquidity event rather than a company performance signal, absent other disclosures.

Corporate Governance Expert

TL;DR: The filing meets disclosure obligations; it documents grant-originated holdings being liquidated, with appropriate certifications.

The filer details that the securities were acquired through RSUs and PSUs issued by Boyd Gaming Corporation and confirms absence of undisclosed material information. The statement about trading plans/Rule 10b5-1 is standard; no plan adoption date is provided in the form text. From a governance perspective, the filing demonstrates procedural transparency but does not indicate any governance or control change. The transaction appears as personal liquidity by an insider rather than a governance event.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	UBS Financial Services Inc 1000 Harbor Blvd 3rd Floor Weehawken NJ 07086	100000	8300000	80184203	08/18/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	12/05/2021	RSU	Boyd Gaming Corporation			4346	12/05/2021	Cash
Common	02/24/2023	PSU	Boyd Gaming Corporation			36502	02/24/2023	Cash
Common	02/18/2024	RSU	Boyd Gaming Corporation			3064	02/18/2024	Cash
Common	02/28/2024	PSU	Boyd Gaming Corporation			7011	02/28/2024	Cash
Common	02/28/2024	PSU	Boyd Gaming Corporation			21033	02/28/2024	Cash
Common	02/28/2024	PSU	Boyd Gaming Corporation			7011	02/28/2024	Cash
Common	02/28/2024	PSU	Boyd Gaming Corporation			21033	02/28/2024	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Boyd Gaming's (BYD) Form 144 disclose?

The Form 144 discloses a proposed sale of 100,000 common shares via UBS valued at $8,300,000, with an approximate sale date of 08/18/2025.

Who is handling the sale for BYD shares in this Form 144?

The broker listed is UBS Financial Services Inc, located at 1000 Harbor Blvd, Weehawken, NJ.

When were the shares being sold originally acquired?

The reported acquisition dates range from 12/05/2021 to 02/28/2024 and were received as RSUs and PSUs from Boyd Gaming Corporation.

How large is the proposed sale relative to outstanding shares?

The filing lists 80,184,203 shares outstanding; the proposed 100,000 share sale represents a small fraction of total outstanding shares.

Did the filer report any sales in the past three months?

The Form 144 states "Nothing to Report" for securities sold during the past three months.