[Form 4] Las Vegas Sands Corp. Insider Trading Activity

Rhea-AI Filing Summary

Director Charles D. Forman reported the sale of 20,000 shares of Las Vegas Sands Corp (LVS) on 09/10/2025 at a weighted average price of $54.13 per share. After the reported disposition, the director beneficially owns 187,828 shares, held directly. The filing notes the sale occurred in multiple transactions at prices ranging from $53.84 to $54.40, and the reporting person offers to provide breakdowns of shares sold at each price on request.

Positive

• None.

Negative

• Reported sale of 20,000 shares by Director Charles D. Forman at a weighted average price of $54.13, reducing direct holdings to 187,828 shares

Insights

Financial Analyst

TL;DR: Insider sale of 20,000 LVS shares reduces direct holdings to 187,828; transaction appears routine rather than transformative.

The director's disposition of 20,000 shares represents a defined, disclosed reduction in direct ownership but does not, on its face, indicate a material change to governance or capital structure. The weighted average sale price of $54.13 and the disclosed price range provide transparency on execution. For investors, such Section 16 reporting is useful for tracking insider liquidity but requires context on overall outstanding shares to assess materiality.

Corporate Governance Expert

TL;DR: Transaction is properly reported and accompanied by explanatory footnote; no governance red flags in disclosure.

The Form 4 shows compliance with disclosure obligations, including a footnote about weighted average pricing and an offer to provide per-trade details. The director remains a visible shareholder with 187,828 shares, and the filing does not disclose any related-party or plan-based trading. From a governance standpoint, the disclosure is complete and routine.

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^*

Forman Charles D

(Last) (First) (Middle)

5420 S. DURANGO DRIVE

(Street)

LAS VEGAS NV 89113

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LAS VEGAS SANDS CORP [ LVS ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/10/2025

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
Common Stock	09/10/2025		S		20,000	D	$54.13(1)	187,828	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. The shares were sold in multiple transactions at prices ranging from $53.84 to $54.40, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, 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 this footnote.

Remarks:

	/s/ Judy Tomkins, Attorney-in-Fact	09/11/2025
	** 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 transaction did Charles D. Forman report for LVS?

The director reported a sale of 20,000 LVS shares on 09/10/2025 at a weighted average price of $54.13 per share.

How many LVS shares does Charles D. Forman own after the sale?

After the reported disposition, he beneficially owns 187,828 shares, held directly.

What price range was disclosed for the LVS share sales?

The filing discloses the shares were sold in multiple transactions at prices ranging from $53.84 to $54.40.

Did the filing include details on the pricing of each trade?

The filing states the reported price is a weighted average and the reporting person will provide per-trade details upon request.

Does this Form 4 indicate any plan-based or derivative transactions for LVS?

No derivative or plan-based transactions are reported in Table II; the filing shows a non-derivative sale of common stock.