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  4. [Form 4] BOYD GAMING CORP Insider Trading Activity

BYD insider sale: 20,000 shares on 11/07/2025; holdings updated

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Boyd Gaming (BYD) director William R. Boyd reported an insider transaction. On 11/07/2025, he sold 20,000 shares of common stock (Transaction Code: S) at an average price of $80.36, with trades executed between $80.51 and $80.23.

Following the sale, reported beneficial ownership includes 1,960,447 shares held indirectly by the William R. Boyd Gaming Properties Trust and 87,034 shares held indirectly by the Sean W. Johnson Separate Property Trust. The table also lists 15,188 shares held directly.

Positive

  • None.

Negative

  • None.
Insider BOYD WILLIAM R
Role Director
Sold 20,000 shs ($1.61M)
Type Security Shares Price Value
Sale Common Stock 20,000 $80.36 $1.61M
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 1,960,447 shares (Indirect, By Trust); Common Stock — 15,188 shares (Direct)
Footnotes (1)
  1. This transaction was executed in multiple transactions ranging from $80.51 to $80.23.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. By the William R. Boyd Gaming Properties Trust, of which the reporting person is the trustee, settlor and beneficiary. By the Sean W. Johnson Separate Property Trust, dated 5/9/2019, of which the reporting person is the trustee.
Form 4 Insider Transactions: What Each Field Means →
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)
11/07/2025
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 11/07/2025 S 20,000 D $80.36(1) 1,960,447 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 $80.51 to $80.23.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. 11/12/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did BYD report on this Form 4?

A director reported selling 20,000 shares of Boyd Gaming common stock on 11/07/2025 with Transaction Code S (sale).

What was the sale price for the BYD shares?

The reported average price was $80.36, with trades ranging from $80.51 to $80.23.

How many BYD shares does the reporting person beneficially own after the sale?

Reported beneficial ownership includes 1,960,447 shares indirectly via the William R. Boyd Gaming Properties Trust and 87,034 shares indirectly via the Sean W. Johnson Separate Property Trust.

Does the Form 4 show any directly held BYD shares?

Yes. The table lists 15,188 BYD shares as directly held.

What is the reporting person’s relationship to Boyd Gaming?

The reporting person is a Director of Boyd Gaming.

Who signed the filing?

It was signed by /s/ Uri Clinton, attorney-in-fact for William R. Boyd, on 11/12/2025.