Caesars Entertainment (CZR) CEO granted 202,924 restricted stock units

Rhea-AI Filing Summary

Caesars Entertainment reported an equity award to its Chief Executive Officer and director, Thomas Reeg. On January 23, 2026, he received 202,924 restricted stock units (RSUs) under the Amended and Restated 2015 Equity Incentive Plan, at a price of $0 per unit.

The RSUs convert into common stock on a one-for-one basis and will vest in three equal installments on January 29, 2027, January 29, 2028, and January 29, 2029. All RSUs are reported as directly owned by Reeg and do not expire.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Reeg Thomas

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	202,924	$0.00	--

Holdings After Transaction: Restricted Stock Units — 202,924 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^*

Reeg Thomas

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive 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		202,924		(2)	(2)	Common Stock	202,924	$0	202,924	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 insider transaction did Caesars Entertainment (CZR) report for its CEO?

Caesars Entertainment reported an equity grant to CEO Thomas Reeg of 202,924 restricted stock units. These RSUs were awarded at a price of $0 per unit, providing stock-based compensation that aligns his interests with shareholders through future conversion into common stock.

How many restricted stock units did Caesars CEO Thomas Reeg receive?

Thomas Reeg received 202,924 restricted stock units from Caesars Entertainment. Each unit represents the right to receive one share of common stock, creating a significant stock-based incentive that ties a portion of his compensation to the company’s long-term share performance.

When do the Caesars Entertainment CEO’s RSUs vest?

The CEO’s 202,924 restricted stock units vest in three equal installments. Vesting dates are January 29, 2027, January 29, 2028, and January 29, 2029, encouraging multi-year retention and performance alignment through a staggered schedule rather than immediate share delivery.

Under which plan were Thomas Reeg’s Caesars Entertainment RSUs granted?

The restricted stock units were granted under Caesars Entertainment’s Amended and Restated 2015 Equity Incentive Plan. This plan governs equity-based awards for executives and employees, using stock-linked compensation to support long-term incentives alongside traditional salary and bonus structures.

Do the Caesars Entertainment RSUs granted to the CEO have an expiration date?

The restricted stock units granted to the CEO do not expire. They convert into common stock on a one-for-one basis once vested, meaning their value is tied to Caesars Entertainment’s future share price performance rather than any set expiration deadline or option term.

Is the Caesars Entertainment CEO’s RSU grant reported as directly owned?

Yes. The Form 4 reports the 202,924 restricted stock units as directly owned by CEO Thomas Reeg. There is no indication of indirect ownership through entities or trusts, simplifying the relationship between the award, his personal holdings, and potential future share ownership.