Boyd Gaming (NYSE: BYD) director receives 2,347-share stock award as RSUs vest

Rhea-AI Filing Summary

BOYD GAMING CORP director Christine J. Spadafor received a stock award that increased her direct holdings. On May 7, 2026, she acquired 2,347 shares of common stock at $0.00 per share through a grant classified as a non-market acquisition.

The award came via Restricted Stock Units granted under Boyd Gaming’s 2020 Stock Incentive Plan. According to the disclosure, the RSUs fully vested on the grant date and were settled one-for-one in common shares. After this transaction, Spadafor directly owns 9,994 shares of Boyd Gaming common stock.

Insights

Equity Compensation Analyst

Director received a routine, fully vested stock grant, not an open‑market trade.

The filing shows Christine J. Spadafor, a director of Boyd Gaming, receiving 2,347 shares via Restricted Stock Units at $0.00 per share. The RSUs were granted under the company’s 2020 Stock Incentive Plan and fully vested on the grant date.

This is standard board compensation rather than a discretionary market purchase or sale, so it carries limited signaling value about her view of the stock. Following settlement, she holds 9,994 shares directly, indicating the grant modestly increases her equity exposure but remains a routine governance practice.

Insider Trade Summary

Net Buyer: 2,347 shares

Net Buy 1 txn

Insider SPADAFOR CHRISTINE J.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,347	$0.00	$0.00

Holdings After Transaction: Common Stock — 9,994 shares (Direct)

Footnotes (1)

1. F1. The Restricted Stock Units ("RSUs") were granted to the Reporting Person for no consideration under Issuer's 2020 Stock Incentive Plan. The RSUs fully vested, and one share of Issuer common stock was issued for each RSU, on the date of grant.

Key Figures

Shares acquired via RSUs: 2,347 shares Grant price per share: $0.00 per share Shares owned after transaction: 9,994 shares +2 more

5 metrics

Shares acquired via RSUs 2,347 shares Common Stock grant on May 7, 2026

Grant price per share $0.00 per share Restricted Stock Units settlement price

Shares owned after transaction 9,994 shares Total direct holdings following RSU vesting

Transaction code A Grant, award, or other acquisition of Common Stock

Transaction direction acquire Non-derivative award to director

Key Terms

Restricted Stock Units ("RSUs"), 2020 Stock Incentive Plan, fully vested, Grant, award, or other acquisition

4 terms

Restricted Stock Units ("RSUs") financial

"The Restricted Stock Units ("RSUs") were granted to the Reporting Person for no consideration under Issuer's 2020 Stock Incentive Plan."

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

2020 Stock Incentive Plan financial

"were granted to the Reporting Person for no consideration under Issuer's 2020 Stock Incentive Plan."

fully vested financial

"The RSUs fully vested, and one share of Issuer common stock was issued for each RSU, on the date of grant."

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 05/11/2026 - 01:16 PM Learn about SEC filing dates

FAQ

What did BYD director Christine J. Spadafor report in this Form 4?

Christine J. Spadafor reported receiving 2,347 shares of Boyd Gaming common stock. The shares came from Restricted Stock Units that fully vested on the grant date under the company’s 2020 Stock Incentive Plan, increasing her direct ownership to 9,994 shares.

Was the BYD insider transaction a market buy or sell of shares?

The transaction was not a market buy or sell. It was an acquisition coded as a grant or award, where 2,347 shares were issued at $0.00 per share via vested Restricted Stock Units under Boyd Gaming’s 2020 Stock Incentive Plan.

How many Boyd Gaming (BYD) shares does Christine J. Spadafor own after this grant?

After the transaction, Christine J. Spadafor directly owns 9,994 shares of Boyd Gaming common stock. This total reflects the addition of 2,347 shares issued upon full vesting and settlement of Restricted Stock Units granted under the 2020 Stock Incentive Plan.

What plan governed the Restricted Stock Units granted to the BYD director?

The Restricted Stock Units were granted under Boyd Gaming’s 2020 Stock Incentive Plan. The filing notes that the RSUs were provided for no cash consideration, fully vested on the grant date, and converted into one share of common stock for each unit.

Did Christine J. Spadafor pay anything for the BYD shares she received?

She did not pay cash for the shares. The 2,347 shares were issued at $0.00 per share when Restricted Stock Units granted under the 2020 Stock Incentive Plan fully vested, representing compensation rather than an out-of-pocket stock purchase.

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^*

SPADAFOR CHRISTINE J.

(Last) (First) (Middle)

6465 S. RAINBOW BLVD.

(Street)

LAS VEGAS NEVADA 89118

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/07/2026

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

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

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

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	05/07/2026		A		2,347(1)	A	$0(1)	9,994	D

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. The Restricted Stock Units ("RSUs") were granted to the Reporting Person for no consideration under Issuer's 2020 Stock Incentive Plan. The RSUs fully vested, and one share of Issuer common stock was issued for each RSU, on the date of grant.

	Uri Clinton, as Attorney-in-Fact for Christine J. Spadafor	05/11/2026
	** 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.
* Form 4: SEC 1474 (03-26)