PENN Entertainment (PENN) director awarded 16,835 restricted stock shares

Rhea-AI Filing Summary

PENN Entertainment director Carlos Ruisanchez reported a grant of 16,835 shares of common stock on January 5, 2026. The filing shows these shares as restricted stock that will vest on January 5, 2027, and they were acquired at a price of $0 per share. Following this award, he beneficially owns 32,810 shares of PENN Entertainment common stock directly. The filing also notes an additional 1,950 shares held indirectly through a trust.

Insider Trade Summary

Net Buyer: 16,835 shares

Net Buy 2 txns

Insider Ruisanchez Carlos

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	16,835	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 32,810 shares (Direct); Common Stock — 1,950 shares (Indirect, By Trust)

Footnotes (1)

1. F1. The securities reported are shares of restricted stock that vest on January 5, 2027.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 01/06/2026 - 05:20 PM Learn about SEC filing dates

FAQ

What insider transaction did PENN (PENN) director Carlos Ruisanchez report?

The Form 4 shows that director Carlos Ruisanchez acquired 16,835 shares of PENN Entertainment common stock on January 5, 2026, as a restricted stock award at a price of $0 per share.

When do the restricted PENN (PENN) shares reported by Carlos Ruisanchez vest?

The footnote explains that the 16,835 shares reported are restricted stock that vest on January 5, 2027.

How many PENN Entertainment (PENN) shares does Carlos Ruisanchez own after this Form 4 transaction?

After the reported grant, Carlos Ruisanchez beneficially owns 32,810 shares of PENN Entertainment common stock directly, plus 1,950 shares held indirectly by a trust.

What is the relationship of Carlos Ruisanchez to PENN Entertainment (PENN)?

The Form 4 identifies Carlos Ruisanchez as a director of PENN Entertainment, Inc. and not a 10% owner or officer.

How are the indirect PENN (PENN) holdings of Carlos Ruisanchez structured?

The Form 4 reports 1,950 shares of PENN Entertainment common stock held indirectly, with the nature of ownership described as "By Trust".

Was there a purchase price for the restricted PENN Entertainment (PENN) shares?

No cash was paid for this award; the 16,835 restricted shares were acquired at a reported price of $0 per share, consistent with an equity grant.

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^*

Ruisanchez Carlos

(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)
01/05/2026

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	01/05/2026		A		16,835(1)	A	$0	32,810	D
Common Stock								1,950	I	By Trust

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 January 5, 2027.

	/s/ Joshua Sidworth, Attorney-In-Fact for Carlos Ruisanchez	01/06/2026
	** 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.