Caesars Entertainment (CZR) director awarded 10,369 immediately vested shares

Rhea-AI Filing Summary

Caesars Entertainment director Frank J. Fahrenkopf Jr. received a grant of 10,369 shares of common stock on January 23, 2026. The shares were awarded at a price of $0 per share as equity compensation under the Amended and Restated 2015 Equity Incentive Plan.

The award was structured as restricted stock units that immediately vested and were settled one-for-one in Caesars common stock. After this grant, Fahrenkopf beneficially owned a total of 18,271 shares of Caesars Entertainment common stock in direct ownership.

Insights

Equity Compensation Analyst

Routine director equity grant increases direct share ownership modestly.

Caesars Entertainment granted director Frank J. Fahrenkopf Jr. 10,369 shares of common stock as equity compensation, at a stated price of $0 per share. The grant came via restricted stock units that immediately vested and converted into common stock on a one-for-one basis.

This type of award is typical for board compensation and aligns directors with shareholders through direct stock ownership. Following the transaction on January 23, 2026, Fahrenkopf directly held 18,271 shares. The filing does not indicate any sale, only an increase in holdings.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider FAHRENKOPF FRANK J JR

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	10,369	$0.00	--

Holdings After Transaction: Common Stock — 18,271 shares (Direct)

Footnotes (1)

1. [object Object]

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^*

FAHRENKOPF FRANK J JR

(Last) (First) (Middle)

C/O CAESARS ENTERTAINMENT, INC.

100 WEST LIBERTY STREET 12TH FLOOR

(Street)

RENO NV 89501

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Caesars Entertainment, Inc. [ CZR ]

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)
01/23/2026

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(1)	01/23/2026		A		10,369	A	$0	18,271	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. Directors restricted stock units were granted on January 23, 2026, pursuant to the Amended and Restated 2015 Equity Incentive Plan. Pursuant to the terms of the grant, the restricted stock units immediately vested and settled in common stock, on a one-for-one basis

Remarks:

	/s/ Jill Eaton, by power of attorney	01/27/2026
	** 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.

FAQ

What did Caesars Entertainment (CZR) director Frank J. Fahrenkopf Jr. report on this Form 4?

He reported receiving 10,369 shares of Caesars Entertainment common stock. The shares were granted as equity compensation at $0 per share and increased his direct beneficial ownership to 18,271 shares after the transaction.

What type of transaction did the Caesars Entertainment (CZR) Form 4 disclose?

The Form 4 disclosed an acquisition of common stock coded as transaction type “A”. It reflects a grant of 10,369 shares via restricted stock units that immediately vested and settled into Caesars Entertainment common stock on a one-for-one basis.

How many Caesars Entertainment (CZR) shares does Frank J. Fahrenkopf Jr. own after this transaction?

After the grant, he beneficially owns 18,271 shares of Caesars Entertainment common stock. This total includes the 10,369 shares received on January 23, 2026, reported as directly held following the equity award’s settlement.

What was the price per share for the Caesars Entertainment (CZR) stock reported in this Form 4?

The reported price per share was $0. This reflects that the 10,369 shares were issued as an equity compensation grant under the company’s Amended and Restated 2015 Equity Incentive Plan, rather than purchased in the open market.

How were the Caesars Entertainment (CZR) restricted stock units structured for this director grant?

The grant consisted of directors’ restricted stock units awarded on January 23, 2026. According to the disclosure, these units immediately vested and were settled in Caesars Entertainment common stock, with each restricted stock unit converting into one share.

Does this Caesars Entertainment (CZR) Form 4 show a stock sale by the director?

No, the filing only shows an acquisition of 10,369 shares coded as “A”. It documents an equity compensation grant that increased the director’s holdings to 18,271 shares, with no disposition or sale of Caesars Entertainment stock reported.