Red Rock Resorts (RRR) legal chief exercises options, uses shares to cover taxes

Rhea-AI Filing Summary

Red Rock Resorts, Inc. executive Jeffrey T. Welch, EVP and Chief Legal Officer, reported compensation-related stock activity. He exercised an employee stock option to acquire 126,731 shares of Class A common stock at an exercise price of $24.98 per share. To cover tax obligations, 84,007 shares of Class A common stock were disposed of at $56.25 per share in a tax-withholding transaction, rather than an open-market sale. The underlying stock option, which previously vested under its vesting schedule and was scheduled to expire on February 18, 2028, now shows no remaining derivative position associated with this grant.

Insights

Insider transactions analyst

Compensation-driven option exercise with shares withheld for taxes, no open‑market trading.

Executive Jeffrey T. Welch exercised an employee stock option for 126,731 shares of Class A common stock at $24.98 per share. This follows a vesting schedule already in place, indicating a routine compensation event rather than a new incentive grant.

To satisfy tax obligations, 84,007 shares were used in a tax-withholding disposition at $56.25 per share, rather than sold on the open market. Form 4 data show 0% net buy/sell activity, and no remaining options from this grant, suggesting limited informational value for short-term sentiment.

Insider Trade Summary

Net Buyer: 42,724 shares

Net Buy 3 txns

Insider Welch Jeffrey T

Role EVP and Chief Legal Officer

Type	Security	Shares	Price	Value
Exercise	EMPLOYEE STOCK OPTION (RIGHT TO BUY)	126,731	$0.00	$0.00
Exercise	CLASS A COMMON STOCK	126,731	$24.98	$3.17M
Exercise Price or Tax Liability	CLASS A COMMON STOCK	84,007	$56.25	$4.73M

Holdings After Transaction: EMPLOYEE STOCK OPTION (RIGHT TO BUY) — 0 shares (Direct); CLASS A COMMON STOCK — 351,307 shares (Direct)

Footnotes (1)

1. F1. This stock option previously vested in accordance with the terms of the applicable vesting schedule.

Key Figures

Shares acquired via option exercise: 126,731 shares Option exercise price: $24.98 per share Shares used for tax withholding: 84,007 shares +3 more

6 metrics

Shares acquired via option exercise 126,731 shares Employee stock option converted to Class A common stock

Option exercise price $24.98 per share Exercise price of employee stock option

Shares used for tax withholding 84,007 shares Tax-withholding disposition on option exercise

Tax-withholding reference price $56.25 per share Price applied to 84,007 shares for tax payment

Net buy/sell shares 0 shares Form 4 transactionSummary netBuySellShares

Option expiration date February 18, 2028 Scheduled expiration of exercised employee stock option

Key Terms

tax-withholding disposition, Exercise or conversion of derivative security, Employee Stock Option (Right to Buy), Class A Common Stock, +1 more

5 terms

tax-withholding disposition financial

"84,007 shares were used in a tax-withholding disposition at $56.25 per share"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

Exercise or conversion of derivative security regulatory

"transaction_code_description: Exercise or conversion of derivative security"

Employee Stock Option (Right to Buy) financial

"security_title: EMPLOYEE STOCK OPTION (RIGHT TO BUY)"

Class A Common Stock financial

"security_title: CLASS A COMMON STOCK"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

netBuySellShares regulatory

"transactionSummary field netBuySellShares: 0"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 05/28/2026 - 04:07 PM Accepted by SEC EDGAR 05/28/2026 - 04:05 PM Learn about SEC filing dates

FAQ

What did Red Rock Resorts (RRR) executive Jeffrey T. Welch report on this Form 4?

Jeffrey T. Welch reported exercising an employee stock option and a related tax-withholding transaction. He acquired 126,731 shares of Class A common stock and used 84,007 shares to satisfy tax liabilities, without any open-market purchases or sales disclosed in this filing.

How many Red Rock Resorts (RRR) shares did Jeffrey T. Welch acquire through option exercise?

Welch exercised an employee stock option covering 126,731 shares of Red Rock Resorts Class A common stock. The exercise was recorded at an exercise price of $24.98 per share and relates to an option grant that had already vested under its established vesting schedule.

What is the exercise price of Jeffrey T. Welch’s employee stock option in RRR?

The employee stock option exercised by Welch carried an exercise price of $24.98 per share. He converted this option into 126,731 shares of Class A common stock, reflecting previously vested compensation rather than a new grant or open-market purchase of Red Rock Resorts stock.

How were taxes handled on Jeffrey T. Welch’s Red Rock Resorts stock transaction?

Taxes were handled via a tax-withholding disposition of 84,007 shares at $56.25 per share. Instead of selling shares on the open market, shares were delivered to cover the tax liability arising from the option exercise, a common administrative mechanism for equity compensation.

Did Jeffrey T. Welch sell Red Rock Resorts (RRR) shares in the open market?

The filing does not show any open-market sales; it shows a tax-withholding disposition coded “F.” In this structure, 84,007 shares were used to pay tax obligations on the exercised option, which is different from a discretionary sale into the market by the executive.

When was Jeffrey T. Welch’s Red Rock Resorts stock option scheduled to expire?

The employee stock option Welch exercised was scheduled to expire on February 18, 2028. The Form 4 indicates that, after this exercise of 126,731 shares, there are no remaining derivative securities from this specific option grant outstanding in his reported position.

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^*

Welch Jeffrey T

(Last) (First) (Middle)

C/O RED ROCK RESORTS, INC.

1505 SOUTH PAVILION CENTER DRIVE

(Street)

LAS VEGAS NEVADA 89135

(City) (State) (Zip)

UNITED STATES

(Country)

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 and Chief Legal Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/26/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/26/2026		M		126,731	A	$24.98	435,314	D
CLASS A COMMON STOCK	05/26/2026		F		84,007	D	$56.25	351,307	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)	$24.98	05/26/2026		M			126,731	(1)	02/18/2028	Class A Common Stock	126,731	$0	0	D

Explanation of Responses:

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

	/s/ Jeffrey T. Welch	05/28/2026
	** 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.
* Form 4: SEC 1474 (03-26)