Red Rock Resorts (RRR) VP awarded shares and options under equity plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Red Rock Resorts, Inc. reported new equity awards to Vice President and director Lorenzo J. Fertitta. He received a restricted stock award of 148,427 shares of Class A common stock, increasing his directly held Class A shares to 241,648.
He was also granted an employee stock option for 301,205 shares of Class A common stock at an exercise price of $62.3200 per share, expiring on June 11, 2036. Both the restricted stock and option awards vest 25% on each of the first four anniversaries of June 11, 2026, subject to his continued service.
Footnotes describe substantial additional indirect holdings through entities such as FI Station, Fertitta Investment, FBM Sub 1, FBM, KVF, LNA and various trusts, for which Fertitta disclaims beneficial ownership except to the extent of any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
FERTITTA LORENZO J
Role
Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | EMPLOYEE STOCK OPTION (RIGHT TO BUY) | 301,205 | $0.00 | -- |
| Grant/Award | CLASS A COMMON STOCK | 148,427 | $0.00 | -- |
| holding | CLASS A COMMON STOCK | -- | -- | -- |
Holdings After Transaction:
EMPLOYEE STOCK OPTION (RIGHT TO BUY) — 301,205 shares (Direct, null);
CLASS A COMMON STOCK — 241,648 shares (Direct, null);
CLASS A COMMON STOCK — 45,273,322 shares (Indirect, See Footnotes)
Footnotes (1)
- Represents a restricted stock award (the "Restricted Stock Award") pursuant to the Issuer's Amended and Restated 2016 Equity Incentive Plan. The Restricted Stock Award vests 25% on each first four anniversaries of June 11, 2026, subject to the Reporting Person's continued service with the Issuer. Lorenzo J. Fertitta is a director of the Issuer, and also a beneficial owner of 10% or more of the Issuer's Class A Common Stock (assuming that all of the units of membership interest in Station Holdco LLC (the "LLC Units") beneficially owned by Lorenzo J. Fertitta were exchanged for the Issuer's Class A Common Stock) as a result of his ownership interest in FBM Sub 1 LLC ("FBM Sub 1"), Fertitta Business Management LLC ("FBM") and FI Station Investor LLC ("FI Station"). The LLC Units are exchangeable at any time and from time to time for a number of shares of the Issuer's Class A Common Stock at an exchange rate determined in accordance with the Exchange Agreement or, at the election of the Issuer, cash. The LLC Units have no expiration date. (Continued from Footnote 2) FI Station is owned by Fertitta Investment LLC ("Fertitta Investment"), KVF Investments, LLC ("KVF") and LNA Investments, LLC ("LNA"). Fertitta Investment is owned by FBM, KVF and LNA. FI Station and Fertitta Investment are managed by Fertitta Holdco LLC, which is owned and managed by Frank J. Fertitta III and Lorenzo J. Fertitta. KVF is managed by Frank J. Fertitta III and is beneficially owned by various trusts established for the benefit of his three children. LNA is managed by Lorenzo J. Fertitta and is beneficially owned by various trusts established for the benefit of his three children. FBM Sub 1 is owned and controlled by FBM. FBM is owned and controlled (i) 50% by the F & J Fertitta Family Business Trust (the "F&J Trust"), a revocable trust for which Frank J. Fertitta III has sole investment and voting power, and (ii) 50% by the L & T Fertitta Family Business Trust (the "L&T Trust"), (Continued from Footnote 3) a revocable trust for which Lorenzo J. Fertitta has sole investment and voting power. Certain Class A Common Stock of the Issuer are held by (i) The L&T Fertitta Family Trust, (ii) LNA RRR LLC ("LNA RRR") is an entity managed by Lorenzo J. Fertitta and is beneficially owned by various trusts established for the benefit of his three children and grandchildren, and (iii) the L & T Fertitta Grandchildren's 2020 Irrevocable Trust, an irrevocable trust established for the benefit of the Reporting Person's grandchildren (the "L&T 2020 Trust") for which Frank J. Fertitta IV, the Reporting Person's nephew, serves as trustee. Based on the Reporting Person's retained right to remove the trustee of the L&T 2020 Trust, the Reporting Person may be deemed to be a beneficial owner of the shares transferred to the L&T 2020 Trust. Lorenzo J. Fertitta disclaims beneficial ownership of any shares of Class A Common Stock or LLC Units beneficially owned by FI Station, Fertitta Investment, FBM Sub 1, FBM, KVF, LNA, the F&J Trust, the L&T Trust, the L&T Fertitta Family Trust, the LNA RRR, and the L&T 2020 Trust, except to the extent of any pecuniary interest therein. Represents a stock option award (the "Stock Option Award") pursuant to the Issuer's Amended and Restated 2016 Equity Incentive Plan. The Stock Option Award vests 25% on each first four anniversaries of June 11, 2026, subject to the Reporting Person's continued service with the Issuer.
Key Figures
Restricted stock award: 148,427 shares
Stock option grant size: 301,205 options
Option exercise price: $62.3200 per share
+3 more
6 metrics
Restricted stock award
148,427 shares
Class A common stock granted June 11, 2026 vesting start
Stock option grant size
301,205 options
Employee stock option for Class A common stock
Option exercise price
$62.3200 per share
Employee stock option strike price
Option expiration
June 11, 2036
Employee stock option expiration date
Direct shares after grant
241,648 shares
Class A common stock directly held after restricted stock award
Indirect Class A holdings entry
45,273,322 shares
Indirectly held Class A common stock with complex entity structure
Key Terms
restricted stock award, Amended and Restated 2016 Equity Incentive Plan, stock option award, LLC Units, +1 more
5 terms
restricted stock award financial
"Represents a restricted stock award (the "Restricted Stock Award") pursuant to the Issuer's Amended and Restated 2016 Equity Incentive Plan."
A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.
Amended and Restated 2016 Equity Incentive Plan financial
"Represents a restricted stock award (the "Restricted Stock Award") pursuant to the Issuer's Amended and Restated 2016 Equity Incentive Plan."
stock option award financial
"Represents a stock option award (the "Stock Option Award") pursuant to the Issuer's Amended and Restated 2016 Equity Incentive Plan."
LLC Units financial
"The LLC Units are exchangeable at any time and from time to time for a number of shares of the Issuer's Class A Common Stock at an exchange rate determined in accordance with the Exchange Agreement or, at the election of the Issuer, cash."
LLC units are ownership stakes in a limited liability company, similar to shares in a corporation; each unit represents a portion of the company’s profits, losses and often voting power. For investors, LLC units matter because they determine how much money and control someone gets, how easily an interest can be sold, and how income is taxed and reported — think of owning slices of a pie that also decide how the pie is cut and shared.
pecuniary interest financial
"Lorenzo J. Fertitta disclaims beneficial ownership of any shares of Class A Common Stock or LLC Units... except to the extent of any pecuniary interest therein."
FAQ
What insider transactions did Lorenzo J. Fertitta report at Red Rock Resorts (RRR)?
Lorenzo J. Fertitta reported receiving equity compensation, not open-market trades. He was granted 148,427 restricted Class A shares and 301,205 stock options, both tied to continued service and vesting over four years starting June 11, 2026.
What are the terms of Lorenzo J. Fertitta’s restricted stock award from Red Rock Resorts (RRR)?
The restricted stock award covers 148,427 Class A shares and was issued under the Amended and Restated 2016 Equity Incentive Plan. It vests 25% on each of the first four anniversaries of June 11, 2026, conditioned on his continued service with the company.
What are the key details of the stock option grant to Lorenzo J. Fertitta at Red Rock Resorts (RRR)?
He received an employee stock option for 301,205 underlying Class A shares at an exercise price of $62.3200 per share. The option vests 25% annually on each of the first four anniversaries of June 11, 2026 and expires on June 11, 2036.
Does Lorenzo J. Fertitta have indirect ownership interests in Red Rock Resorts (RRR)?
Yes. Footnotes describe indirect holdings through entities including FI Station, Fertitta Investment, FBM Sub 1, FBM, KVF, LNA and several family trusts. He disclaims beneficial ownership of those interests except to the extent of any pecuniary interest he may have.
Are the LLC Units referenced in Lorenzo J. Fertitta’s Red Rock Resorts (RRR) filing exchangeable for Class A common stock?
Yes. The filing notes that LLC Units in Station Holdco LLC beneficially owned by Lorenzo J. Fertitta are exchangeable at any time for Red Rock Resorts Class A common stock, or cash at the issuer’s election, under an exchange agreement. The LLC Units have no expiration date.