PENN Entertainment (PENN) director converts phantom units and disposes 14,775 shares
Rhea-AI Filing Summary
PENN Entertainment, Inc. director Johnny Hartnett reported a series of equity-related transactions on August 8, 2026. He exercised 14,775 Phantom Stock Units into an equivalent number of shares of common stock, then returned 14,775 common shares to the issuer in a disposition transaction at $20.18 per share. According to the disclosure, each phantom unit entitled him to a cash payment equal to the fair market value of one share of common stock on the vesting date.
Positive
- None.
Negative
- None.
Insider Trade Summary
14,775 shares exercised/converted
Exercise
3 txns
Insider
Hartnett Johnny
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Stock Units F1 | 14,775 | -- | -- |
| Exercise | Common Stock F1 | 14,775 | -- | -- |
| Disposition | Common Stock F1 | 14,775 | $20.18 | $298K |
Holdings After Transaction:
Phantom Stock Units — 0 shares (Direct);
Common Stock — 16,835 shares (Direct)
Footnotes (1)
- F1. The reporting person receives a cash payment for each phantom stock unit equal to the fair market value on the vesting date of one share of the Company's common stock.
Key Figures
Phantom Stock Units Exercised: 14,775 units
Common Shares Acquired from Exercise: 14,775 shares
Common Shares Disposed to Issuer: 14,775 shares
+2 more
5 metrics
Phantom Stock Units Exercised
14,775 units
Phantom Stock Units converted on August 8, 2026
Common Shares Acquired from Exercise
14,775 shares
Common stock underlying exercised Phantom Stock Units
Common Shares Disposed to Issuer
14,775 shares
Disposition to issuer on August 8, 2026
Disposition Price
$20.18 per share
Price for common stock disposition to issuer
Phantom Unit Cash Settlement Basis
Fair market value of 1 share
Cash payment per Phantom Stock Unit on vesting date
Key Terms
Phantom Stock Units, fair market value, Disposition to issuer
3 terms
Phantom Stock Units financial
"The reporting person receives a cash payment for each phantom stock unit equal to the fair market value"
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
fair market value financial
"cash payment for each phantom stock unit equal to the fair market value on the vesting date"
The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.
Disposition to issuer financial
"transaction code description: Disposition to issuer"
FAQ
What insider transaction did PENN (PENN) director Johnny Hartnett report?
Johnny Hartnett reported exercising 14,775 Phantom Stock Units into 14,775 shares of common stock on August 8, 2026, followed by a disposition of 14,775 common shares back to the issuer at $20.18 per share.
How many PENN (PENN) Phantom Stock Units did Johnny Hartnett exercise?
Johnny Hartnett exercised 14,775 Phantom Stock Units on August 8, 2026. Each unit corresponded to the value of one share of PENN’s common stock and was tied to a cash payment equal to its fair market value on the vesting date.
Did Johnny Hartnett receive stock or cash for his PENN (PENN) Phantom Stock Units?
The disclosure states he receives a cash payment for each Phantom Stock Unit equal to the fair market value of one PENN common share on the vesting date, indicating the units are cash-settled rather than settled in stock retained by him.
Were Johnny Hartnett’s PENN (PENN) transactions made under a Rule 10b5-1 plan?
The filing indicates the Rule 10b5-1 plan checkbox is not affirmed for these transactions. There is no accompanying footnote stating the trades were made pursuant to a pre-arranged Rule 10b5-1 trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
