Entities tied to Caesars (CZR) director Michael Pegram sell 55,000 shares

Rhea-AI Filing Summary

Caesars Entertainment director Michael E. Pegram reported indirect open-market sales of company common stock through affiliated entities. Pea Peg LLC I sold 5,000 shares at a weighted average price of about $29.19 per share, and AMT Investments LLC sold 50,000 shares at about $29.20 per share. Following these transactions, AMT Investments LLC held 141,697 shares indirectly, a trust held 10,000 shares indirectly, and Pegram held 4,612 shares directly. The filing notes that the reported prices are weighted averages over multiple trades and that Pegram disclaims beneficial ownership of the securities except to the extent of his pecuniary interest.

Insights

Equity analyst

Director-linked entities reported selling 55,000 Caesars shares while retaining a sizable indirect position.

The filing shows entities associated with director Michael E. Pegram conducting open-market sales totaling 55,000 shares of Caesars Entertainment common stock around $29.20 per share. These are straightforward non-derivative sales, not option exercises or tax-related moves.

After the sales, AMT Investments LLC still held 141,697 shares indirectly, and Pegram also reported 4,612 shares held directly plus 10,000 shares held by a trust. The footnote states he disclaims beneficial ownership beyond his pecuniary interest, so the positions are primarily at the entity level.

Overall, this looks like a routine insider net-sell event, with the reporting entities retaining a substantial remaining stake. The filing does not reference trading plans or additional derivatives, so future Form 4s will provide the clearest view of any ongoing selling activity.

Insider Trade Summary

Net Seller: 55,000 shares ($1,606,031)

Net Sell 4 txns

Insider Pegram Michael E

Role null

Sold 55,000 shs ($1.61M)

Type	Security	Shares	Price	Value
Sale	Common Stock	50,000	$29.2016	$1.46M
Sale	Common Stock	5,000	$29.1901	$146K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 141,697 shares (Indirect, By AMT Investments LLC); Common Stock — 4,612 shares (Direct, null)

Footnotes (1)

1. The price reported in Column 4 is a weighted average price with shares sold in multiple transactions at prices ranging from $29.18 and $29.21 inclusive. The reporting person undertakes to provide to the Registrant, any security holder of the Registrant, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to this Form 4. The reporting person disclaims beneficial ownership of the securities, except to the extent of a pecuniary interest therein.

Key Figures

Shares sold by Pea Peg LLC I: 5,000 shares Price for Pea Peg LLC I sale: $29.1901 per share Shares sold by AMT Investments LLC: 50,000 shares +5 more

8 metrics

Shares sold by Pea Peg LLC I 5,000 shares Open-market sale of Caesars common stock

Price for Pea Peg LLC I sale $29.1901 per share Weighted average sale price

Shares sold by AMT Investments LLC 50,000 shares Open-market sale of Caesars common stock

Price for AMT Investments LLC sale $29.2016 per share Weighted average sale price

Total shares sold 55,000 shares Net-sell across reported transactions

AMT Investments LLC holdings after sale 141,697 shares Indirect ownership after transactions

Trust holdings 10,000 shares Indirect ownership by trust

Direct holdings 4,612 shares Shares held directly by reporting person

Key Terms

open-market sale, weighted average price, beneficial ownership, indirect ownership, +1 more

5 terms

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

weighted average price financial

"The price reported in Column 4 is a weighted average price"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

beneficial ownership financial

"The reporting person disclaims beneficial ownership of the securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

indirect ownership financial

"direct_or_indirect": "I","nature_of_ownership": "By AMT Investments LLC""

pecuniary interest financial

"except to the extent of a pecuniary interest therein"

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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^*

Pegram Michael E

(Last) (First) (Middle)

C/O CAESARS ENTERTAINMENT, INC.

100 WEST LIBERTY STREET 12TH FLOOR

(Street)

RENO NEVADA 89501

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/02/2026

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	06/02/2026		S		50,000	D	$29.2016(1)	141,697	I	By AMT Investments LLC(2)
Common Stock	06/02/2026		S		5,000	D	$29.1901	0	I	By Pea Peg LLC I(2)
Common Stock								10,000	I	By Trust
Common Stock								4,612	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 price reported in Column 4 is a weighted average price with shares sold in multiple transactions at prices ranging from $29.18 and $29.21 inclusive. The reporting person undertakes to provide to the Registrant, any security holder of the Registrant, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to this Form 4.

2. The reporting person disclaims beneficial ownership of the securities, except to the extent of a pecuniary interest therein.

Remarks:

	/s/ Jill Eaton, by power of attorney	06/03/2026
	** 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)

FAQ

What insider transaction did Caesars Entertainment (CZR) report for Michael E. Pegram?

Entities associated with director Michael E. Pegram sold Caesars common stock. Pea Peg LLC I and AMT Investments LLC reported open-market sales totaling 55,000 shares of Caesars Entertainment common stock, with prices around $29.20 per share, while retaining a significant indirect ownership position.

How many Caesars Entertainment (CZR) shares were sold and at what prices?

A total of 55,000 Caesars shares were sold in open-market transactions. Pea Peg LLC I sold 5,000 shares at a weighted average price of about $29.19, and AMT Investments LLC sold 50,000 shares at about $29.20, with individual trades ranging from $29.18 to $29.21.

What are Michael E. Pegram’s reported Caesars (CZR) holdings after these transactions?

Pegram-linked entities and accounts still hold a notable Caesars stake. After the sales, AMT Investments LLC held 141,697 shares indirectly, a trust held 10,000 shares indirectly, and Pegram reported 4,612 shares held directly in Caesars Entertainment common stock.

Who actually executed the Caesars (CZR) share sales reported by Michael E. Pegram?

The sales were executed by entities associated with Pegram. The filing attributes 5,000 shares sold to Pea Peg LLC I and 50,000 shares sold to AMT Investments LLC, both reported as indirect holdings rather than Pegram’s personal direct account.

What does the beneficial ownership disclaimer mean in this Caesars (CZR) Form 4?

Pegram disclaims full beneficial ownership of the reported securities. The Form 4 states he disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest, indicating the positions are primarily held through entities and may not reflect full personal control.

Were the Caesars (CZR) insider sales based on a weighted average price?

Yes, the reported prices are weighted averages over multiple trades. The Form 4 notes that the column 4 prices reflect weighted average prices for transactions executed between $29.18 and $29.21, and detailed trade-level data is available upon request from the company or the SEC staff.