[Form 4] Monarch Casino & Resort Inc Insider Trading Activity

Rhea-AI Filing Summary

Director Craig F. Sullivan filed a Form 4 disclosing a single derivative transaction in Monarch Casino & Resort (MCRI) on 24 Jul 2025. He sold 724 stock-option rights (transaction code S) with a $44.55 exercise price at $106.98 per option. Following the sale, Sullivan still directly owns 48,076 option rights across nine grant tranches carrying strike prices between $43.09 and $86.44 and expirations from 2028 to 2035. No acquisitions or dispositions of common shares were reported.

Insights

Corporate Governance Analyst

TL;DR: Minor insider option sale; negligible impact on MCRI valuation.

The reported disposal represents roughly 1.5% of Sullivan’s remaining 48,076 option rights, signalling portfolio rebalancing rather than a directional view on Monarch Casino’s fundamentals. The absence of common-share sales and the retention of substantial option exposure indicate continued alignment with shareholders. Given the modest size and derivative nature of the transaction, I classify the filing as informational with limited market relevance.

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).

1. Name and Address of Reporting Person^*

SULLIVAN CRAIG F

(Last) (First) (Middle)

(Street)

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2025

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

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
Options / Right to Buy	$44.55	07/24/2025		S			724	12/12/2018	06/12/2028	Common Stock	724	$106.98	48,076	D
Options / Right to Buy	$86.44							12/31/2025	06/30/2035	Common Stock	6,100		48,076	D
Options / Right to Buy	$68.13							12/31/2024	06/30/2034	Common Stock	6,100		48,076	D
Options / Right to Buy	$70.45							12/31/2023	06/30/2033	Common Stock	6,100		48,076	D
Options / Right to Buy	$58.67							12/31/2022	06/30/2032	Common Stock	6,100		48,076	D
Options / Right to Buy	$66.17							12/31/2021	06/30/2031	Common Stock	6,100		48,076	D
Options / Right to Buy	$44.6							03/31/2021	09/30/2030	Common Stock	6,100		48,076	D
Options / Right to Buy	$43.09							12/04/2019	06/04/2029	Common Stock	6,100		48,076	D
Options / Right to Buy	$44.55							12/12/2018	06/12/2028	Common Stock	5,376		48,076	D

Explanation of Responses:

	Craig Sullivan	07/29/2025
	** 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 insider activity did Craig Sullivan report for MCRI on 24 Jul 2025?

He filed a Form 4 showing the sale of 724 stock-option rights at $106.98 each.

How many Monarch Casino options does Sullivan still hold after the transaction?

The filing states he retains 48,076 derivative option rights.

Were any MCRI common shares bought or sold in this Form 4?

No. The report lists only derivative option transactions; no common-share activity occurred.

What is the exercise price of the options Sullivan sold?

The options have a $44.55 exercise (conversion) price.

What price did Sullivan receive for the disposed options?

Column 8 of the filing shows a $106.98 price per option right.