Fertitta-linked entities sell call options on 600,000 WYNN RESORTS (NASDAQ: WYNN) shares

Rhea-AI Filing Summary

WYNN RESORTS LTD insider entities linked to Tilman J. Fertitta reported open‑market sales of call options over company stock. Through Hospitality Headquarters, Inc., they sold call options covering a total of 600,000 shares of common stock at strike prices of $120, $125, and $130 per share, expiring on September 25, 2026. Premiums received ranged from about $3.09 to $5.33 per option. The filing notes Mr. Fertitta may be deemed to share beneficial ownership through his control of Fertitta Entertainment, Inc. and related entities.

Insights

Equity derivatives and insider-transactions analyst

Fertitta-affiliated entities sold call options on 600,000 Wynn shares, a leveraged, directional move.

Entities associated with Tilman J. Fertitta, via Hospitality Headquarters, Inc., sold exchange-style call options on WYNN RESORTS LTD common stock. These options obligate the seller to deliver an equal number of shares at strike prices of $120, $125, and $130 by September 25, 2026.

The transactions are coded as open-market sales of derivatives, not direct stock sales. If the stock trades above the strike prices at or before expiration, the entities would face potential assignment and forgo upside above those levels in exchange for the option premiums received.

Footnotes show Mr. Fertitta controls the entities involved, so he may be deemed to share beneficial ownership of these option positions. The filing’s transaction summary indicates net selling of call options on 600,000 underlying shares, with no remaining derivative positions of this type listed in this excerpt, so the economic exposure now depends on future share-price moves relative to the strike levels.

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

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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)
03/10/2026

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)	$120	03/10/2026		S			100,000	09/25/2026	09/25/2026	Common Stock	100,000	$5.3288	100,000	I	See footnotes(1)(2)
Call Option (obligation to sell)	$125	03/10/2026		S			100,000	09/25/2026	09/25/2026	Common Stock	100,000	$4.1	100,000	I	See footnotes(1)(2)
Call Option (obligation to sell)	$130	03/10/2026		S			100,000	09/25/2026	09/25/2026	Common Stock	100,000	$3.0913	100,000	I	See footnotes(1)(2)
Call Option (obligation to sell)	$120	03/11/2026		S			150,000	09/25/2026	09/25/2026	Common Stock	150,000	$4.8343	150,000	I	See footnotes(1)(2)
Call Option (obligation to sell)	$125	03/11/2026		S			150,000	09/25/2026	09/25/2026	Common Stock	150,000	$3.7193	150,000	I	See footnotes(1)(2)

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)

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^*

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 Hospitality Headquarters, Inc.

	/s/ Tilman J. Fertitta	03/12/2026
	Fertitta Entertainment, Inc., By: /s/ Paige Fertitta, President	03/12/2026
	Hospitality Headquarters, Inc., By: /s/ Paige Fertitta, President	03/12/2026
	Fertitta Entertainment, LLC, By: /s/ Steve Scheinthal, Vice President	03/12/2026
	** 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 did Tilman Fertitta–linked entities report in this WYNN Form 4 filing?

Entities associated with Tilman J. Fertitta sold call options on Wynn Resorts stock. Through Hospitality Headquarters, Inc., they sold call options covering 600,000 common shares at strike prices of $120, $125, and $130, all expiring on September 25, 2026, receiving option premiums in cash.

How many Wynn Resorts (WYNN) shares are covered by the Fertitta call options?

The call option sales cover 600,000 Wynn Resorts common shares. The filing lists five derivative transactions in total, each labeled as a call option with an obligation to sell underlying common stock, with individual blocks of 100,000 or 150,000 shares adding up to 600,000 shares covered.

What strike prices and expiration date apply to the Fertitta WYNN call options?

The reported call options have strikes of $120, $125, and $130. All options share an exercise and expiration date of September 25, 2026. These terms mean the option buyers can require the Fertitta entities to sell Wynn stock at those strike prices until that date.

Who is the record holder of the Wynn Resorts call options in this Form 4?

The options are held of record by Hospitality Headquarters, Inc. Footnotes explain Tilman J. Fertitta is the sole shareholder of Fertitta Entertainment, Inc., which in turn owns Hospitality Headquarters, Inc., so he may be deemed to share beneficial ownership of the reported derivative positions.

Were the Fertitta transactions in WYNN shares or derivatives?

The reported transactions involve derivatives, specifically call options. Each line item is labeled "Call Option (obligation to sell)" with an underlying security of Wynn Resorts common stock. The sales reflect option premiums received rather than direct purchases or sales of the underlying shares themselves.

How does the Form 4 characterize the direction of the Fertitta WYNN trades?

The Form 4 classifies all five transactions as open-market sales. Each transaction bears code "S" with a description stating "Sale in open market or private transaction," and the normalized data flags them as sell-direction derivative trades involving call options on Wynn Resorts common stock.