Caesars (CZR) President Carano logs RSU vesting and common share disposition

Rhea-AI Filing Summary

Caesars Entertainment President and COO Anthony L. Carano reported equity award activity on January 29, 2026. He acquired 53,398 shares of common stock at $0 per share through the exercise of previously granted restricted stock units, then disposed of 21,014 shares at $21.28 per share, leaving 302,867 common shares held directly.

On the same date, several tranches of restricted stock units converted into common stock on a one-for-one basis. Grants made on January 27, 2023, January 26, 2024, and January 24, 2025 each had installments vest on January 29, 2026, leaving 45,690 restricted stock units directly held.

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^*

Carano Anthony L.

(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)
	President and COO

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		53,398	A	$0	323,881	D
Common Stock	01/29/2026		F		21,014	D	$21.28	302,867	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			14,646	(2)	(2)	Common Stock	14,646	$0	0	D
Restricted Stock Units	(1)	01/29/2026		M			15,998	(3)	(3)	Common Stock	15,998	$0	15,998	D
Restricted Stock Units	(1)	01/29/2026		M			22,574	(4)	(4)	Common Stock	22,574	$0	45,690	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).
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FAQ

What insider activity did Caesars (CZR) report for Anthony L. Carano?

Caesars reported that President and COO Anthony L. Carano acquired 53,398 common shares at $0 per share and disposed of 21,014 shares at $21.28 per share on January 29, 2026, ending with 302,867 common shares held directly.

How many Caesars (CZR) shares does Anthony L. Carano own after this Form 4?

After the reported transactions on January 29, 2026, Anthony L. Carano directly owns 302,867 shares of Caesars Entertainment common stock, according to the Form 4, reflecting his holdings after both the acquisition and disposition of shares that day.

What happened to Anthony L. Carano’s restricted stock units in Caesars (CZR)?

Restricted stock units granted in 2023, 2024, and 2025 had installments vest on January 29, 2026, converting into Caesars common stock one-for-one. Following these vesting and conversion events, Carano directly holds 45,690 restricted stock units outstanding under the company’s equity plan.

At what prices were Anthony L. Carano’s Caesars (CZR) transactions reported?

The Form 4 shows Carano acquired 53,398 Caesars common shares at $0 per share through equity awards and disposed of 21,014 common shares at $21.28 per share, all dated January 29, 2026, as part of his reported non-derivative transactions.

Which Caesars (CZR) equity plans are referenced in Anthony L. Carano’s Form 4?

The restricted stock units were granted under Caesars’ Amended and Restated 2015 Equity Incentive Plan. Installments from grants dated January 27, 2023, January 26, 2024, and January 24, 2025 vested on January 29, 2026, with units converting into common stock.

What do the transaction codes M and F mean in this Caesars (CZR) Form 4?

In this Form 4, code M indicates the exercise or conversion of derivative securities, specifically restricted stock units converting into common stock at $0. Code F indicates a disposition of common shares at $21.28 per share on January 29, 2026, affecting Carano’s direct holdings.