Fertitta entities sell 900K Wynn Resorts (NASDAQ: WYNN) call options

Rhea-AI Filing Summary

Entities affiliated with Tilman J. Fertitta reported selling call options relating to Wynn Resorts Ltd. on February 18, 2026. The Form 4 lists four open-market sales totaling 900,000 call options at prices ranging from approximately $5.09 to $7.62 per option.

The options are held of record by Fertitta Entertainment, LLC and Hospitality Headquarters, Inc., with Fertitta Entertainment, Inc. as their sole shareholder. Mr. Fertitta may be deemed to share beneficial ownership of these securities through his ownership of these entities.

Insider Trade Summary

Net Seller: 900,000 shares ($5,844,465)

Net Sell 4 txns

Insider FERTITTA TILMAN J, Fertitta Entertainment, Inc., Hospitality Headquarters Inc, Fertitta Entertainment, LLC

Role 10% Owner | 10% Owner | 10% Owner | 10% Owner

Sold 900,000 shs ($5.84M)

Type	Security	Shares	Price	Value
Sale	Call Option (obligation to sell)	300,000	$7.615	$2.28M
Sale	Call Option (obligation to sell)	300,000	$5.977	$1.79M
Sale	Call Option (obligation to sell)	150,000	$6.688	$1.00M
Sale	Call Option (obligation to sell)	150,000	$5.0911	$764K

Holdings After Transaction: Call Option (obligation to sell) — 300,000 shares (Indirect, See footnotes)

Footnotes (1)

1. Mr. Fertitta is the sole shareholder of Fertitta Entertainment, Inc., which is the sole shareholder of Hospitality Headquarters, Inc. and the sole indirect owner of Fertitta Entertainment, LLC. As such, Mr. Fertitta may be deemed to share beneficial ownership of the securities held of record by Fertitta Entertainment, Inc., Hospitality Headquarters, Inc. and Fertitta Entertainment, LLC. The options are held of record by Fertitta Entertainment, LLC. The options are held of record by Hospitality Headquarters, Inc.

Form 4 Insider Transactions: What Each Field Means →

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
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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^*

FERTITTA TILMAN J

(Last) (First) (Middle)

C/O FERTITTA ENTERTAINMENT, INC.

1510 WEST LOOP SOUTH

(Street)

HOUSTON TX 77027

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WYNN RESORTS LTD [ WYNN ]

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

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/18/2026

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

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

	Form filed by One Reporting Person
X	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

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
Call Option (obligation to sell)	$130	02/18/2026		S			300,000	02/18/2026	08/21/2026	Common Stock	300,000	$7.615	300,000	I	See footnotes(1)(2)
Call Option (obligation to sell)	$135	02/18/2026		S			300,000	02/18/2026	08/21/2026	Common Stock	300,000	$5.977	300,000	I	See footnotes(1)(2)
Call Option (obligation to sell)	$130	02/18/2026		S			150,000	08/21/2026	08/21/2026	Common Stock	150,000	$6.688	150,000	I	See footnotes(1)(3)
Call Option (obligation to sell)	$135	02/18/2026		S			150,000	08/21/2026	08/21/2026	Common Stock	150,000	$5.0911	150,000	I	See footnotes(1)(3)

1. Name and Address of Reporting Person^*

FERTITTA TILMAN J

(Last) (First) (Middle)

C/O FERTITTA ENTERTAINMENT, INC.

1510 WEST LOOP SOUTH

(Street)

HOUSTON TX 77027

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Fertitta Entertainment, Inc.

(Last) (First) (Middle)

1510 WEST LOOP SOUTH

(Street)

HOUSTON TX 77027

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Hospitality Headquarters Inc

(Last) (First) (Middle)

C/O FERTITTA ENTERTAINMENT, INC.

1510 WEST LOOP SOUTH

(Street)

HOUSTON TX 77027

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Fertitta Entertainment, LLC

(Last) (First) (Middle)

C/O FERTITTA ENTERTAINMENT, INC.

1510 WEST LOOP SOUTH

(Street)

HOUSTON TX 77027

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Mr. Fertitta is the sole shareholder of Fertitta Entertainment, Inc., which is the sole shareholder of Hospitality Headquarters, Inc. and the sole indirect owner of Fertitta Entertainment, LLC. As such, Mr. Fertitta may be deemed to share beneficial ownership of the securities held of record by Fertitta Entertainment, Inc., Hospitality Headquarters, Inc. and Fertitta Entertainment, LLC.

2. The options are held of record by Fertitta Entertainment, LLC.

3. The options are held of record by Hospitality Headquarters, Inc.

	/s/ Tilman J. Fertitta	02/20/2026
	Fertitta Entertainment, Inc., By: /s/ Paige Fertitta, President	02/20/2026
	Hospitality Headquarters, Inc., By: /s/ Paige Fertitta, President	02/20/2026
	Fertitta Entertainment, LLC, By: /s/ Steve Scheinthal, Vice President	02/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider activity did WYNN disclose involving Tilman J. Fertitta entities?

Entities affiliated with Tilman J. Fertitta reported selling 900,000 call options relating to Wynn Resorts Ltd. on February 18, 2026. The transactions were open-market sales executed through Fertitta-controlled entities that hold the derivative positions of record.

How many Wynn-related call options were sold in the latest WYNN Form 4?

The Form 4 shows open-market sales totaling 900,000 call options relating to Wynn Resorts Ltd. These were split across four transactions, with individual trades of 300,000, 300,000, 150,000 and 150,000 call options executed on February 18, 2026 by affiliated entities.

What prices were received for the call options sold by WYNN-related Fertitta entities?

The reported sales prices for the call options were approximately $7.615, $5.977, $6.688 and $5.0911 per option. Each price corresponds to a separate open-market transaction on February 18, 2026, as disclosed in the Form 4 filing for Wynn Resorts Ltd.

Which entities executed the Wynn Resorts call option sales reported in the Form 4?

The Form 4 states that the options are held of record by Fertitta Entertainment, LLC and Hospitality Headquarters, Inc. These entities are indirectly owned through Fertitta Entertainment, Inc., which is solely owned by Tilman J. Fertitta, who may be deemed to share beneficial ownership.

Does Tilman J. Fertitta directly hold the Wynn-related options reported in this Form 4?

The filing explains that the options are held of record by Fertitta Entertainment, LLC and Hospitality Headquarters, Inc. Tilman J. Fertitta is the sole shareholder of Fertitta Entertainment, Inc., which indirectly owns these entities, so he may be deemed to share beneficial ownership.

What type of derivative securities were sold in the recent WYNN insider transaction?

The transactions involved call options described as an obligation to sell, relating to Wynn Resorts Ltd. These derivative securities were sold in open-market transactions by entities associated with Tilman J. Fertitta, according to the detailed entries in the Form 4 filing.