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

Rhea-AI Filing Summary

Craig Sullivan, a director of Monarch Casino & Resort, reported changes in his beneficial ownership on a Form 4. The earliest transaction date shown is 08/22/2025 and the form is signed on 08/25/2025. After the reported transactions, the filing shows Mr. Sullivan beneficially owns 42,700 shares of Monarch common stock.

The filing lists multiple derivative securities (stock options) tied to common stock with varying exercise prices and expiration dates, including options exercisable from 12/12/2018 through 12/31/2025 and expirations through 06/30/2035. One listed derivative transaction dated 08/22/2025 shows 5,376 underlying shares associated with an entry that includes a price of $104.9963.

Positive

• Director-level disclosure filed and signed, showing compliance with Section 16 reporting requirements
• Clear total beneficial ownership reported: 42,700 common shares following the reported transactions
• Detailed listing of option instruments with exercise prices and expirations, providing transparency about equity incentives

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine Form 4 reporting a director's holdings and multiple outstanding option grants; no explicit extraordinary event disclosed.

The filing documents a director-level reporting person, Craig Sullivan, and enumerates his beneficial ownership after transactions as 42,700 common shares. The form details several option instruments with specific exercise prices and long-dated expirations, indicating outstanding equity incentives rather than a one-off corporate action. The single transaction line dated 08/22/2025 records 5,376 underlying shares and an associated price figure, but the form does not provide additional context such as whether options were exercised, sold, or granted in that line. Given the information provided, this appears to be routine Section 16 reporting of equity positions and derivative holdings rather than a material corporate development.

Corporate Governance Expert

TL;DR: Standard insider disclosure by a director showing existing option positions and total beneficial ownership; no governance issue is evident from the form alone.

The Form 4 identifies the reporting person as a director and lists multiple option series with explicit exercise prices and expiration dates, demonstrating standard long-term equity compensation structure. The document confirms the director remains subject to Section 16 reporting and provides a signed certification. The filing does not include details of any change in board membership, related-party transactions, or departures from disclosure norms, so it reads as compliant, routine reporting.

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^*

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)
08/22/2025

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	08/22/2025		S			5,376	12/12/2018	06/12/2028	Common Stock	5,376	$104.9963	42,700	D
Options / Right to Buy	$86.44							12/31/2025	06/30/2035	Common Stock	6,100		42,700	D
Options / Right to Buy	$68.13							12/31/2024	06/30/2034	Common Stock	6,100		42,700	D
Options / Right to Buy	$70.45							12/31/2023	06/30/2033	Common Stock	6,100		42,700	D
Options / Right to Buy	$58.67							12/31/2022	06/30/2032	Common Stock	6,100		42,700	D
Options / Right to Buy	$66.17							12/31/2021	06/30/2031	Common Stock	6,100		42,700	D
Options / Right to Buy	$44.6							03/31/2021	09/30/2030	Common Stock	6,100		42,700	D
Options / Right to Buy	$43.09							12/04/2019	06/04/2029	Common Stock	6,100		42,700	D

Explanation of Responses:

	Craig Sullivan	08/25/2025
	** 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 date is reported on the MCRI Form 4?

The earliest transaction date shown is 08/22/2025.

How many Monarch (MCRI) shares does Craig Sullivan beneficially own after the reported transactions?

The Form 4 reports 42,700 shares beneficially owned following the reported transactions.

What is Craig Sullivan's relationship to Monarch Casino & Resort (MCRI)?

The filing identifies Craig Sullivan as a Director of the issuer.

Does the Form 4 list any stock options for the reporting person?

Yes. The form lists multiple derivative securities (options) with various exercise prices and expiration dates tied to common stock.

When was the Form 4 signed by the reporting person?

The signature date on the form is 08/25/2025.