RRR insider Nichols Kord reports option exercise and stock sales

Rhea-AI Filing Summary

Nichols Kord, EVP & Chief Operating Officer of Red Rock Resorts, Inc. (RRR), reported a sequence of Class A common stock transactions. On 08/11/2025 he exercised an employee stock option with a stated conversion/exercise price of $18.32 to obtain 206,355 shares. That same day he disposed of 121,705 shares at $56.61, and on 08/12/2025 he sold an additional 42,325 shares at a weighted-average price of $58.61 (sales ranged from $58.16 to $58.93). After the reported transactions the filing shows 129,361 shares beneficially owned, reported as direct ownership. The filing notes the option had previously vested and offers to provide a detailed breakdown of sale prices on request.

Positive

• Exercise of vested option: The filing confirms an employee stock option had previously vested, enabling conversion of 206,355 shares.
• Transparent sale disclosure: Sales are reported with a weighted-average price ($58.61 for Aug 12 sales) and the filer offers to provide a detailed price breakdown on request.

Negative

• Substantial insider dispositions: The reporting person disposed of a total of 164,030 shares (121,705 and 42,325), reducing reported beneficial ownership from reported intermediate amounts down to 129,361 shares.
• No remaining derivative holdings reported: After the reported transactions the filing shows no derivative securities beneficially owned in the positions disclosed.

Insights

Securities Analyst

TL;DR: Large option exercise followed by substantial sales reduced direct holdings to 129,361 shares; material share movement disclosed.

The filing documents an exercise of 206,355 option shares at a conversion/exercise price of $18.32121,705 shares at $56.61 and 42,325 shares at a weighted-average $58.61164,030 shares. The reported sequence shows beneficial ownership changing across lines in the filing and ending at 129,361 shares direct. For investors, the filing is a clear, itemized disclosure of insider exercise and sale activity; the materiality depends on company float and outstanding share count, which are not provided in this filing.

Corporate Governance Expert

TL;DR: Disclosure complies with Section 16 reporting; footnotes confirm vesting and provide price-range transparency.

The Form 4 shows the option "previously vested" and records both the derivative-to-equity conversion and follow-on open-market disposals. The filer explicitly provides a weighted-average sale price and a promise to supply a per-trade price breakdown on request, which supports transparency. The filing lists direct ownership and indicates no remaining derivative securities in the post-transaction position reported. This is a routine, but sizeable, executive-level reporting event rather than a governance exception.

08/13/2025 - 08:00 PM

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^*

Nichols Kord

(Last) (First) (Middle)

C/O RED ROCK RESORTS, INC.

1505 SOUTH PAVILION CENTER DRIVE

(Street)

LAS VEGAS NV 89135

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Red Rock Resorts, Inc. [ RRR ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/11/2025

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
CLASS A COMMON STOCK	08/11/2025		M		206,355	A	$56.61	293,391	D
CLASS A COMMON STOCK	08/11/2025		F		121,705	D	$56.61	171,686	D
CLASS A COMMON STOCK	08/12/2025		S		42,325	D	$58.61(2)	129,361	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
EMPLOYEE STOCK OPTION (RIGHT TO BUY)	$18.32	08/11/2025		M			206,355	(1)	08/28/2026	CLASS A COMMON STOCK	206,355	$0	0	D

Explanation of Responses:

1. This stock option previously vested in accordance with the terms of the applicable vesting schedule.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $58.16 to $58.93, inclusive. The reporting person undertakes to provide to Red Rock Resorts, Inc., any security holder of Red Rock Resorts, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this Footnote 2.

	/s/ Jeffrey T. Welch	08/13/2025
	** 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 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.

FAQ

What insider transactions did Nichols Kord report for Red Rock Resorts (RRR)?

The filing reports an exercise of 206,355 option shares and disposals of 121,705 shares on 08/11/2025 and 42,325 shares on 08/12/2025.

What was the exercise price of the options Nichols Kord converted?

The conversion/exercise price shown in the filing is $18.32 per option share.

At what prices were the shares sold in the filing?

The filing reports sales at $56.61 (for 121,705 shares) and a weighted-average of $58.61 (for 42,325 shares), with the weighted-average sale range noted as $58.16–$58.93.

How many Red Rock Resorts shares does Nichols Kord beneficially own after these transactions?

Following the reported transactions the filing shows Nichols Kord beneficially owned 129,361 shares, reported as direct ownership.

Did the filing confirm vesting of the exercised options?

Yes. The filing explicitly states the stock option had previously vested in accordance with its vesting schedule.

Will the filer provide more detail on the sale prices?

Yes. The filing states the reporting person will provide, upon request, full information regarding the number of shares sold at each separate price within the stated range.