93,718 Caesars (CZR) RSUs granted to President and COO Carano

Rhea-AI Filing Summary

Caesars Entertainment granted its President and COO, Anthony L. Carano, 93,718 restricted stock units (RSUs) on January 23, 2026. The RSUs were issued at a price of $0 as equity compensation and are held directly by Carano.

Each RSU converts into one share of Caesars common stock. The grant will vest in three equal installments on January 29, 2027, January 29, 2028, and January 29, 2029. The RSUs do not expire, and 93,718 derivative securities are reported as beneficially owned after this transaction.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Carano Anthony L.

Role President and COO

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	93,718	$0.00	--

Holdings After Transaction: Restricted Stock Units — 93,718 shares (Direct)

Footnotes (1)

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

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^*

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)
01/23/2026

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		93,718		(2)	(2)	Common Stock	93,718	$0	93,718	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 in this Form 4 filing?

Caesars Entertainment disclosed that President and COO Anthony L. Carano received 93,718 restricted stock units as equity compensation. These RSUs convert one-for-one into common stock and are reported as directly owned derivative securities following the January 23, 2026 grant.

How many restricted stock units did Anthony L. Carano receive from Caesars (CZR)?

Anthony L. Carano received 93,718 restricted stock units from Caesars Entertainment. All 93,718 RSUs are reported as beneficially owned after the transaction and represent a right to receive an equal number of Caesars common shares upon settlement, subject to vesting.

On what dates do Anthony L. Carano’s Caesars (CZR) RSUs vest?

The 93,718 restricted stock units vest in three equal installments on January 29, 2027, January 29, 2028, and January 29, 2029. This creates a multi-year incentive schedule tied to his continued service and the company’s long-term performance horizon.

What is the conversion rate of the Caesars (CZR) restricted stock units granted?

Each restricted stock unit converts into one share of Caesars Entertainment common stock. This one-for-one conversion means the 93,718 RSUs correspond to 93,718 potential common shares, assuming all units ultimately vest and are settled in stock.

Did Anthony L. Carano pay anything for the 93,718 Caesars (CZR) RSUs?

The restricted stock units were granted at a price of $0 per unit as part of equity compensation. This indicates the award was not a market purchase but a company-granted incentive under the Amended and Restated 2015 Equity Incentive Plan.

Under which plan were the Caesars (CZR) RSUs for Anthony L. Carano granted?

The 93,718 restricted stock units were granted under Caesars Entertainment’s Amended and Restated 2015 Equity Incentive Plan. This plan provides stock-based awards to executives and is designed to align management compensation with shareholder interests over multiple years.