Boyd Gaming director’s trust sells 30,000 BYD shares

Boyd Gaming Corp director William R. Boyd, through the William R. Boyd Gaming Properties Trust, reported an open-market sale of 30,000 shares of common stock at an average price of $84.84 per share on February 18, 2026.

Rhea-AI Filing Summary

Boyd Gaming Corp director William R. Boyd, through the William R. Boyd Gaming Properties Trust, reported an open-market sale of 30,000 shares of common stock at an average price of $84.84 per share on February 18, 2026.

After this indirect sale by the William R. Boyd Gaming Properties Trust, the filing shows 1,930,447 shares of Boyd Gaming common stock held indirectly through that trust. It also reports 15,188 shares held directly and 87,034 shares held indirectly through the Sean W. Johnson Separate Property Trust.

Insider Trade Summary

Net Seller: 30,000 shares

Net Sell 3 txns

Insider BOYD WILLIAM R

Role Director

Sold 30,000 shs ($2.55M)

Type	Security	Shares	Price	Value
Sale	Common Stock	30,000	$84.84	$2.55M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 2,017,481 shares (Indirect, By Trust); Common Stock — 15,188 shares (Direct)

Footnotes (3)

1. F1. This transaction was executed in multiple transactions ranging from $85.03 to $84.85.The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
2. F2. By the William R. Boyd Gaming Properties Trust, of which the reporting person is the trustee, settlor and beneficiary.
3. F3. By the Sean W. Johnson Separate Property Trust, dated 5/9/2019, of which the reporting person is the trustee.

FAQ

What does Boyd Gaming (BYD) director William R. Boyd’s latest Form 4 report?

The Form 4 reports that a trust associated with director William R. Boyd sold Boyd Gaming common stock. The transaction involved an open-market sale on February 18, 2026, and the filing also discloses Boyd’s remaining direct and indirect share holdings after the sale.

How many Boyd Gaming (BYD) shares were sold and at what price?

A trust associated with William R. Boyd sold 30,000 Boyd Gaming common shares in an open-market transaction. The reported average sale price was $84.84 per share, according to the Form 4 filed for the February 18, 2026 transaction date disclosed in the document.

Which entity actually sold the Boyd Gaming (BYD) shares in this Form 4?

The shares were sold by the William R. Boyd Gaming Properties Trust, as disclosed in the footnotes. William R. Boyd serves as trustee, settlor and beneficiary of this trust, so the transaction is reported as his indirect ownership activity in Boyd Gaming’s common stock holdings.

How many Boyd Gaming (BYD) shares does William R. Boyd hold after the reported sale?

After the sale, the filing shows 1,930,447 Boyd Gaming shares held indirectly through the William R. Boyd Gaming Properties Trust. It also reports 15,188 shares held directly and 87,034 shares held indirectly through the Sean W. Johnson Separate Property Trust as of the reported date.

Were there any other Boyd Gaming (BYD) transactions besides the 30,000-share sale?

The Form 4 lists the 30,000-share open-market sale plus two additional entries categorized as holdings. These holding entries simply state the post-transaction share amounts for William R. Boyd’s direct position and for his indirect position through the Sean W. Johnson Separate Property Trust.

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Accepted by SEC EDGAR 02/19/2026 - 05:49 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

BOYD WILLIAM R

(Last) (First) (Middle)

6465 S. RAINBOW BLVD.

(Street)

LAS VEGAS NV 89118

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BOYD GAMING CORP [ BYD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/18/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								15,188	D
Common Stock	02/18/2026		S		30,000	D	$84.84(1)	1,930,447	I	By Trust(2)
Common Stock								87,034	I	By Trust(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This transaction was executed in multiple transactions ranging from $85.03 to $84.85.The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

2. By the William R. Boyd Gaming Properties Trust, of which the reporting person is the trustee, settlor and beneficiary.

3. By the Sean W. Johnson Separate Property Trust, dated 5/9/2019, of which the reporting person is the trustee.

Remarks:

* The reporting person expressly disclaims beneficial ownership of any securities of the Issuer except for those securities that are owned directly by the Reporting Person or to the extent of the Reporting Person's pecuniary interest in a trust or other entity which owns such securities.

	/s/ Uri Clinton, attorney-in-fact for William R. Boyd.	02/19/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.