[Form 4] Caesars Entertainment, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Caesars Entertainment CAO & Chief Administrative Officer Stephanie Lepori reported equity transactions involving company stock. On January 29, 2026, she exercised vested restricted stock units, converting 21,072 RSUs into common stock at an exercise price of $0 per share.

On the same date, she disposed of 8,387 shares of Caesars Entertainment common stock in a transaction coded "F" at $21.28 per share. After these transactions, she directly held 79,233 shares of Caesars Entertainment common stock.

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

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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^*

Lepori Stephanie

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CAO & Chief Admin. Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/29/2026

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	01/29/2026		M		21,072	A	$0	87,620	D
Common Stock	01/29/2026		F		8,387	D	$21.28	79,233	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
Restricted Stock Units	(1)	01/29/2026		M			5,063	(2)	(2)	Common Stock	5,063	$0	0	D
Restricted Stock Units	(1)	01/29/2026		M			6,609	(3)	(3)	Common Stock	6,609	$0	6,609	D
Restricted Stock Units	(1)	01/29/2026		M			9,400	(4)	(4)	Common Stock	9,400	$0	18,800	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. Restricted stock units were granted on January 27, 2023, pursuant to the Amended and Restated 2015 Equity Incentive Plan. This installment vested on January 29, 2026. The restricted stock units do not expire.

3. Restricted stock units were granted on January 26, 2024, pursuant to the Amended and Restated 2015 Equity Incentive Plan. This installment vested on January 29, 2026. The restricted stock units do not expire.

4. Restricted stock units were granted on January 24, 2025, pursuant to the Amended and Restated 2015 Equity Incentive Plan. This installment vested on January 29, 2026. The restricted stock units do not expire.

Remarks:

	/s/ Jill Eaton, by power of attorney	02/02/2026
	** 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 insider transaction did Stephanie Lepori report at Caesars Entertainment (CZR)?

Stephanie Lepori reported exercising restricted stock units and disposing of some Caesars common shares. On January 29, 2026, she converted 21,072 restricted stock units into common stock and disposed of 8,387 shares in a transaction coded “F” at $21.28 per share.

How many Caesars Entertainment shares does Stephanie Lepori hold after this Form 4?

After the reported transactions, Stephanie Lepori directly holds 79,233 shares of Caesars Entertainment common stock. This reflects the net result of converting 21,072 restricted stock units into shares and disposing of 8,387 shares in a separate transaction on January 29, 2026.

What prices were involved in Stephanie Lepori’s Caesars Entertainment Form 4 transactions?

The restricted stock units were converted to common stock at an exercise price of $0 per share. Separately, 8,387 shares of Caesars Entertainment common stock were disposed of in a transaction coded “F” at a reported price of $21.28 per share.

What do the restricted stock unit transactions mean for Caesars Entertainment (CZR) shares?

The filing shows 21,072 restricted stock units converting into Caesars Entertainment common stock on a one-for-one basis. These RSUs were previously granted under the company’s Amended and Restated 2015 Equity Incentive Plan and vested in installments that became exercisable on January 29, 2026.

What is the significance of transaction code "F" in this Caesars Entertainment Form 4?

In this Form 4, transaction code “F” indicates a disposition of shares by Stephanie Lepori. She disposed of 8,387 shares of Caesars Entertainment common stock at $21.28 per share on January 29, 2026, reducing her direct share count to 79,233 following the transactions.