PENN Entertainment Form 3 Reveals Director’s Initial 3,150-Share Stake

Rhea-AI Filing Summary

Form 3 insider filing: On 06/17/2025, newly appointed director Carlos Ruisanchez submitted his initial statement of beneficial ownership for PENN Entertainment (PENN). He discloses direct ownership of 1,200 common shares and indirect ownership of 1,950 shares held via a trust, for a total of 3,150 shares. No derivative securities are listed. The document, signed on 06/24/2025 by an attorney-in-fact, sets the baseline for future Section 16 reporting and does not reflect any purchase or sale activity.

Insights

Corporate Governance Expert

TL;DR: Routine Form 3 establishes director’s 3,150-share stake; negligible governance or valuation impact.

This filing merely records Mr. Ruisanchez’s initial ownership upon becoming a PENN director. The disclosed 3,150 shares represent a modest personal stake and do not alter control dynamics or trigger governance concerns. No derivative positions, pledging, or complex ownership structures are present. As such, the document fulfills compliance obligations without signaling strategic intent or insider sentiment changes.

Portfolio Manager

TL;DR: Neutral for investors; filing supplies baseline data, not a buy/sell signal.

Because Form 3 reports existing holdings rather than transactions, it offers limited insight into near-term stock performance. The director’s total stake is immaterial relative to PENN’s roughly 150 million shares outstanding, so dilution or insider accumulation signals are nonexistent. Investors should monitor subsequent Form 4 filings for actionable activity, but this initial disclosure alone does not warrant portfolio adjustments.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Ruisanchez Carlos

(Last) (First) (Middle)

825 BERKSHIRE BLVD., SUITE 200

(Street)

WYOMISSING PA 19610

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/17/2025

3. Issuer Name and Ticker or Trading Symbol
PENN Entertainment, Inc. [ PENN ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	1,200	D
Common Stock	1,950	I	By Trust

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Joshua Sidsworth, Attorney-in-Fact for Carlos Ruisanchez	06/24/2025
	** 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 5 (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

How many PENN shares does Carlos Ruisanchez own according to the Form 3?

The filing lists 3,150 common shares in total—1,200 held directly and 1,950 held indirectly via a trust.

Does the Form 3 include any derivative securities for PENN?

No. No options, warrants, or other derivatives are reported in the filing.

When did the ownership event occur for this PENN Form 3?

The event date is 06/17/2025, with the form signed on 06/24/2025.

What is Carlos Ruisanchez’s relationship to PENN Entertainment?

He is listed as a Director of PENN Entertainment, Inc.

Is this Form 3 filing considered a purchase of PENN stock?

No. A Form 3 does not represent a transaction; it simply declares the insider’s existing holdings at the time they become reportable.