PENN Entertainment (PENN) director receives 17,077 restricted stock shares

Rhea-AI Filing Summary

PENN Entertainment director Fabio Schiavolin received a grant of 17,077 shares of common stock as restricted stock. The award was made at no cash cost to him and is classified as a non-derivative acquisition. These restricted shares are scheduled to vest on March 9, 2027, and his direct holdings after the grant total 17,077 shares.

Insider Trade Summary

Net Buyer: 17,077 shares

Net Buy 1 txn

Insider Schiavolin Fabio

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	17,077	$0.00	$0.00

Holdings After Transaction: Common Stock — 17,077 shares (Direct)

Footnotes (1)

1. F1. The securities reported are shares of restricted stock that vest on March 9, 2027.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 03/11/2026 - 08:51 PM Learn about SEC filing dates

FAQ

What insider transaction did PENN director Fabio Schiavolin report on this Form 4 for PENN?

Fabio Schiavolin reported receiving 17,077 shares of PENN common stock as a restricted stock grant. The award is a non-derivative acquisition, increasing his direct holdings to 17,077 shares immediately following the transaction reported in the filing.

When do Fabio Schiavolin’s 17,077 restricted PENN shares vest?

The 17,077 shares of restricted PENN common stock granted to Fabio Schiavolin are scheduled to vest on March 9, 2027. Until that vesting date, the shares are subject to restrictions described as restricted stock in the filing’s footnote.

Did Fabio Schiavolin buy or sell PENN shares in this Form 4 filing?

The filing shows no open-market purchases or sales of PENN shares by Fabio Schiavolin. Instead, he acquired 17,077 shares through a restricted stock grant, classified as a non-derivative grant, award, or other acquisition at a stated price of $0.0000 per share.

How many PENN shares does Fabio Schiavolin hold after this reported grant?

Following the reported restricted stock grant, Fabio Schiavolin directly holds 17,077 shares of PENN common stock. The Form 4 indicates this total in the “shares following transaction” field, reflecting his position after receiving the 17,077-share award.

What is the nature of the PENN securities granted to Fabio Schiavolin?

The securities granted are shares of PENN common stock in the form of restricted stock. A footnote states these restricted shares vest on March 9, 2027, distinguishing them from unrestricted common stock immediately available for sale.

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^*

Schiavolin Fabio

(Last) (First) (Middle)

825 BERKSHIRE BLVD., SUITE 200

(Street)

WYOMISSING PA 19610

(City) (State) (Zip)

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

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)
03/09/2026

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
Common Stock	03/09/2026		A		17,077(1)	A	$0	17,077	D

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

Explanation of Responses:

1. The securities reported are shares of restricted stock that vest on March 9, 2027.

	/s/ Joshua Sidsworth, Attorney-in-Fact for Fabio Schiavolin	03/11/2026
	** 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.