Gaming & Leisure Properties (GLPI) SVP sells shares under 10b5-1 plan

Q: At what price were the GLPI shares sold in this Form 4 filing?

The shares were sold at a weighted average price of $45.04 per share , with individual trades ranging from $44.77 to $45.26 .

Q: Was the GLPI insider sale made under a Rule 10b5-1 trading plan?

Yes. The filing states the sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 05/14/2025 .

Q: What are the 30,000 LTIP Units reported in the GLPI Form 4?

The filing reports 30,000 LTIP Units , which are units of limited partnership interests in GLP Capital, L.P. that relate to GLPI stock and vest ratably over three years , subject to continued service, with no expiration date.

Q: Does Steven Ladany still have derivative exposure to GLPI after the sale?

Yes. In addition to common stock, he holds 30,000 LTIP Units , which are derivative securities linked to Gaming & Leisure Properties, Inc. common stock .

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Gaming & Leisure Properties, Inc. insider activity: SVP Chief Development Officer Steven Ladany reported selling 13,409 shares of common stock of Gaming & Leisure Properties, Inc. on 01/07/2026 at a weighted average price of $45.04 per share. The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on 05/14/2025.

After this transaction, Ladany beneficially owned 57,886 shares of common stock directly. He also held 30,000 LTIP Units of GLP Capital, L.P., which represent limited partnership interests that are tied to Gaming & Leisure Properties, Inc. stock. These LTIP Units vest ratably over a three-year period starting on the grant date, subject to his continued service, and have no expiration date.

Insider Trade Summary

Net Seller: 13,409 shares ($603,941)

Net Sell 2 txns

Insider Ladany Steven

Role SVP Chief Development Officer

Sold 13,409 shs ($604K)

Type	Security	Shares	Price	Value
Sale	Common Stock	13,409	$45.04	$604K
holding	LTIP Units	--	--	--

Holdings After Transaction: Common Stock — 57,886 shares (Direct); LTIP Units — 30,000 shares (Direct)

Footnotes (1)

This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 05/14/2025 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $44.77 to $45.26 inclusive. The reporting person undertakes to provide Gaming and Leisure Properties, Inc., any security holder of Gaming and Leisure Properties, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnote to this Form 4. Represents units of limited partnership interests ("LTIP Units") in GLP Capital, L.P. The LTIP Units will vest and become nonforfeitable ratably over the three-year period beginning on the date of grant, subject to the reporting person's continued service and have no expiration date.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 01/07/2026 - 04:57 PM

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^*

Ladany Steven

(Last)

(First)

(Middle)

845 BERKSHIRE BLVD.

SUITE 200

(Street)

WYOMISSING

19610

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Gaming & Leisure Properties, Inc. [ GLPI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/07/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	01/07/2026		S⁽¹⁾		13,409	D	$45.04⁽²⁾	57,886	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
LTIP Units	$0							⁽³⁾	⁽³⁾	Common Stock	30,000		30,000	D

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 05/14/2025

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $44.77 to $45.26 inclusive. The reporting person undertakes to provide Gaming and Leisure Properties, Inc., any security holder of Gaming and Leisure Properties, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnote to this Form 4.

3. Represents units of limited partnership interests ("LTIP Units") in GLP Capital, L.P. The LTIP Units will vest and become nonforfeitable ratably over the three-year period beginning on the date of grant, subject to the reporting person's continued service and have no expiration date.

Remarks:

	/s/Steven Ladany	01/07/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did GLPI SVP Steven Ladany report?

SVP Chief Development Officer Steven Ladany reported selling 13,409 shares of Gaming & Leisure Properties, Inc. common stock on 01/07/2026.

At what price were the GLPI shares sold in this Form 4 filing?

The shares were sold at a weighted average price of $45.04 per share, with individual trades ranging from $44.77 to $45.26.

Was the GLPI insider sale made under a Rule 10b5-1 trading plan?

Yes. The filing states the sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 05/14/2025.

How many GLPI shares does Steven Ladany own after this transaction?

Following the reported sale, Steven Ladany beneficially owned 57,886 shares of Gaming & Leisure Properties, Inc. common stock directly.

What are the 30,000 LTIP Units reported in the GLPI Form 4?

The filing reports 30,000 LTIP Units, which are units of limited partnership interests in GLP Capital, L.P. that relate to GLPI stock and vest ratably over three years, subject to continued service, with no expiration date.

Does Steven Ladany still have derivative exposure to GLPI after the sale?

Yes. In addition to common stock, he holds 30,000 LTIP Units, which are derivative securities linked to Gaming & Leisure Properties, Inc. common stock.