Caesars Entertainment (CZR) CLO receives 42,720 RSUs in new equity grant

Rhea-AI Filing Summary

Caesars Entertainment Chief Legal Officer Edmund L. Quatmann Jr. received a grant of 42,720 restricted stock units (RSUs) on January 23, 2026. These RSUs were awarded under the company’s Amended and Restated 2015 Equity Incentive Plan as part of his equity compensation.

The RSUs convert into Caesars common stock on a one-for-one basis, meaning each unit equals one share when delivered. They will vest in three equal installments on January 29, 2027, January 29, 2028, and January 29, 2029, encouraging longer-term retention. After this grant, Quatmann beneficially owns 42,720 derivative securities directly at an exercise price of $0.

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^*

Quatmann Edmund L 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Legal Officer

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

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)	01/23/2026		A		42,720		(2)	(2)	Common Stock	42,720	$0	42,720	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 23, 2026, pursuant to the Amended and Restated 2015 Equity Incentive Plan and will vest in equal installments on each of January 29, 2027, January 29, 2028, and January 29, 2029. The restricted stock units do not expire.

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) disclose about Edmund Quatmann’s new equity award?

Caesars Entertainment granted Chief Legal Officer Edmund L. Quatmann Jr. 42,720 restricted stock units. These units convert one-for-one into common stock and were issued under the Amended and Restated 2015 Equity Incentive Plan as part of his long-term equity compensation.

How many restricted stock units were granted to the Caesars (CZR) Chief Legal Officer?

Edmund L. Quatmann Jr., Caesars’ Chief Legal Officer, received 42,720 restricted stock units. Each unit represents the right to receive one share of Caesars common stock, providing a meaningful equity-based incentive tied directly to the company’s future share performance.

What is the vesting schedule for the new Caesars (CZR) restricted stock units?

The 42,720 restricted stock units vest in three equal installments on January 29, 2027, January 29, 2028, and January 29, 2029. This multi-year vesting schedule is designed to promote long-term alignment between the executive’s interests and Caesars Entertainment shareholders.

Do the Caesars (CZR) restricted stock units granted to the CLO have an expiration date?

The restricted stock units granted to Caesars’ Chief Legal Officer do not expire. They remain outstanding subject to the specified vesting schedule, and each vested unit converts into one share of common stock, providing ongoing long-term equity exposure for the executive.

What is the conversion ratio of the Caesars (CZR) restricted stock units to common stock?

Each restricted stock unit granted to the Chief Legal Officer converts into one share of Caesars common stock. This simple one-for-one conversion ratio makes it straightforward to understand how many shares the award could ultimately deliver upon full vesting.

How many derivative securities does the Caesars (CZR) Chief Legal Officer own after this grant?

Following the grant, Edmund L. Quatmann Jr. beneficially owns 42,720 derivative securities in the form of restricted stock units. These are held directly, have a stated price of $0, and will convert into common shares as they vest over the three-year schedule.