Is this Monarch Casino Form 4 an open-market share sale by the CEO?

No open-market sales are shown. The filing reflects option exercises coded “M” and a tax-withholding disposition coded “F,” where shares were delivered to satisfy obligations, rather than discretionary selling into the market.

Monarch Casino CEO exercises options, updates stake

Monarch Casino & Resort CEO John Farahi reported a series of stock option exercises and related share withholdings.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

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Form Type

Rhea-AI Filing Summary

Monarch Casino & Resort CEO John Farahi reported a series of stock option exercises and related share withholdings. He exercised options to acquire 200,000 shares of common stock through multiple transactions coded “M”, converting derivative awards into regular shares.

To cover tax obligations, 114,748 shares of common stock were disposed of in a tax-withholding transaction coded “F” at $118.16 per share, a non-market sale to the company. Following these transactions, he holds 621,556 common shares directly and 2,521,415 shares indirectly in trusts.

Farahi also retains significant option holdings. Remaining “Options / Right to Buy” cover several tranches of 66,666–66,668 underlying shares each, with exercise prices ranging from $43.24 to $95.70 and expirations between 2029 and 2035, indicating continued long-term equity exposure.

Insider Trade Summary

200,000 shares exercised/converted

Exercise 15 txns

Insider FARAHI JOHN

Role CEO

Type	Security	Shares	Price	Value
Exercise	Options / Right to Buy	66,666	$0.00	$0.00
Exercise	Options / Right to Buy	66,668	$0.00	$0.00
Exercise	Options / Right to Buy	66,666	$0.00	$0.00
Exercise	Common Stock	66,666	$23.08	$1.54M
Exercise	Common Stock	66,668	$45.32	$3.02M
Exercise	Common Stock	66,666	$39.82	$2.65M
Exercise Price or Tax Liability	Common Stock	114,748	$118.16	$13.56M
holding	Options / Right to Buy	--	--	--
holding	Options / Right to Buy	--	--	--
holding	Options / Right to Buy	--	--	--
holding	Options / Right to Buy	--	--	--
holding	Options / Right to Buy	--	--	--
holding	Options / Right to Buy	--	--	--
holding	Options / Right to Buy	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Options / Right to Buy — 2,066,664 contracts for 466,666 underlying shares (Direct); Common Stock — 621,556 shares (Direct); Common Stock — 2,521,415 shares (Indirect, In trusts)

Key Figures

Options exercised: 200,000 shares Tax-withholding shares: 114,748 shares Direct holdings after transactions: 621,556 shares +3 more

6 metrics

Options exercised 200,000 shares Common stock acquired via derivative exercises coded “M” on 2026-04-28

Tax-withholding shares 114,748 shares Common stock delivered for tax liability at $118.16 per share

Direct holdings after transactions 621,556 shares Common stock held directly following 2026-04-28 transactions

Indirect holdings in trusts 2,521,415 shares Common stock reported as indirectly owned in trusts

Remaining option tranche 66,666 shares at $43.24 Options / Right to Buy, expiring 2029-11-01, direct ownership

Highest remaining option exercise price $95.70 Options / Right to Buy over 66,666 underlying shares, expiring 2035-12-31

Key Terms

tax-withholding disposition, derivative exercise/conversion, Options / Right to Buy, indirect ownership

4 terms

tax-withholding disposition financial

"a tax-withholding disposition coded “F” for 114,748 common shares"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

derivative exercise/conversion financial

"multiple transactions coded “M” described as derivative exercise/conversion"

Options / Right to Buy financial

"remaining “Options / Right to Buy” cover several tranches of 66,666–66,668 shares"

indirect ownership financial

"2,521,415 shares are reported as indirect ownership held in trusts"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did MCRI CEO John Farahi report in this Form 4 filing?

John Farahi reported exercising stock options to acquire 200,000 Monarch Casino & Resort shares and a related tax-withholding share disposition. The filing also updates his direct, indirect, and remaining option holdings in the company’s common stock.

How many Monarch Casino (MCRI) shares did John Farahi acquire through option exercises?

He acquired 200,000 shares of Monarch Casino & Resort common stock through multiple derivative exercise transactions coded “M”. These exercises converted outstanding options into regular shares at preset exercise prices disclosed in the filing.

What is the tax-withholding transaction reported by MCRI’s CEO?

The filing shows a tax-withholding disposition coded “F” for 114,748 common shares at $118.16 per share. These shares were delivered to cover tax liabilities related to equity awards rather than being sold in open-market transactions.

How many Monarch Casino shares does John Farahi hold after these transactions?

After the reported transactions, John Farahi holds 621,556 Monarch Casino & Resort common shares directly. He also has 2,521,415 shares reported as held indirectly in trusts, reflecting substantial ongoing ownership in the company.

What stock options does the MCRI CEO still hold following the Form 4?

Farahi retains multiple “Options / Right to Buy” positions over blocks of 66,666–66,668 underlying shares. Exercise prices range from $43.24 to $95.70, with expiration dates between 2029 and 2035, indicating remaining long-term option-based exposure.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 04/30/2026 - 08:25 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^*

FARAHI JOHN

(Last)

(First)

(Middle)

MONARCH CASINO & RESORT INC

3800 S. VIRGINIA STREET

(Street)

RENO

NEVADA

89509

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MONARCH CASINO & RESORT INC [ MCRI ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/28/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	04/28/2026		M		66,666	A	$23.08	602,970	D
Common Stock	04/28/2026		M		66,668	A	$45.32	669,638	D
Common Stock	04/28/2026		M		66,666	A	$39.82	736,304	D
Common Stock	04/28/2026		F		114,748	D	$118.16	621,556	D
Common Stock								2,521,415	I	In trusts

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)
Options / Right to Buy	$23.08	04/28/2026		M			66,666	11/01/2019	11/01/2026	Common Stock	66,666	$0	600,000	D
Options / Right to Buy	$45.32	04/28/2026		M			66,668	11/01/2020	11/01/2027	Common Stock	66,668	$0	533,332	D
Options / Right to Buy	$39.82	04/28/2026		M			66,666	11/01/2021	11/01/2028	Common Stock	66,666	$0	466,666	D
Options / Right to Buy	$95.7							12/31/2028	12/31/2035	Common Stock	66,666		466,666	D
Options / Right to Buy	$78.9							12/31/2027	12/31/2034	Common Stock	66,666		466,666	D
Options / Right to Buy	$69.15							12/31/2026	12/31/2033	Common Stock	66,668		466,666	D
Options / Right to Buy	$76.89							12/31/2025	12/31/2032	Common Stock	66,666		466,666	D
Options / Right to Buy	$73.95							12/31/2024	12/31/2031	Common Stock	66,666		466,666	D
Options / Right to Buy	$61.22							12/31/2023	12/31/2030	Common Stock	66,668		466,666	D
Options / Right to Buy	$43.24							11/01/2022	11/01/2029	Common Stock	66,666		466,666	D

Explanation of Responses:

	John Farahi	04/30/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR