Fertitta entity sells 600K Wynn Resorts call options

WYNN Resorts Ltd reported insider derivatives activity linked to major shareholder Tilman J. Fertitta.

Rhea-AI Filing Summary

WYNN Resorts Ltd reported insider derivatives activity linked to major shareholder Tilman J. Fertitta. Call options described as an “obligation to sell” were sold in open-market transactions by Fertitta Entertainment, LLC, an entity indirectly owned through Fertitta Entertainment, Inc. and Hospitality Headquarters Inc.

Across two dates in February 2026, Fertitta Entertainment, LLC sold a total of 600,000 call options on WYNN, in four separate trades of 250,000, 250,000, 50,000 and 50,000 options, at prices ranging from $4.233 to $6.214 per option. These transactions reflect indirect activity associated with a ten percent owner rather than direct trades in common stock.

Insider Trade Summary

Net Seller: 600,000 shares

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 600,000 shs ($3.23M)

Type	Security	Shares	Price	Value
Sale	Call Option (obligation to sell)	250,000	$6.214	$1.55M
Sale	Call Option (obligation to sell)	250,000	$4.752	$1.19M
Sale	Call Option (obligation to sell)	50,000	$5.55	$278K
Sale	Call Option (obligation to sell)	50,000	$4.233	$212K

Holdings After Transaction: Call Option (obligation to sell) — 600,000 contracts (Indirect, See footnotes)

Footnotes (2)

1. F1. 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. F2. The options are held of record by Fertitta Entertainment, LLC.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider options activity did WYNN Resorts (WYNN) report for Tilman Fertitta?

WYNN disclosed that entity Fertitta Entertainment, LLC, indirectly associated with ten percent owner Tilman J. Fertitta, sold call options representing an obligation to sell WYNN shares in multiple open-market transactions during February 2026, according to the Form 4 filing’s transaction details and footnotes.

How many WYNN call options were sold by the Fertitta-affiliated entity?

The Form 4 reports sales totaling 600,000 WYNN call options. These occurred in four separate trades of 250,000, 250,000, 50,000 and 50,000 options, documenting sizable derivative activity tied to a major shareholder’s affiliated entity rather than small, routine transactions.

On what dates were the Fertitta-related WYNN call option sales executed?

The reported WYNN call option sales were executed on February 13, 2026 and February 17, 2026. Each date includes two separate open-market transactions in call options that create an obligation to sell WYNN shares, as specified in the Form 4 transaction table.

What prices did the Fertitta entity receive for the WYNN call options sold?

Reported transaction prices for the WYNN call options range from $4.233 to $6.214 per option. Individual sales were recorded at $6.214, $4.752, $5.550 and $4.233, illustrating varying option premiums across the four open-market transactions during February 2026.

Who legally holds the WYNN call options involved in the Form 4 transactions?

Footnotes state that the options are held of record by Fertitta Entertainment, LLC. Tilman J. Fertitta is the sole shareholder of Fertitta Entertainment, Inc., which indirectly owns Fertitta Entertainment, LLC, so he may be deemed to share beneficial ownership of these derivative securities.

Are the WYNN Form 4 transactions direct trades by Tilman Fertitta personally?

The transactions are reported as indirectly owned and held of record by Fertitta Entertainment, LLC. Footnotes explain that Tilman J. Fertitta controls the upstream entities and may share beneficial ownership, but the options themselves are held by the affiliated LLC, not in his direct name.

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

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Accepted by SEC EDGAR 02/18/2026 - 04:30 PM Learn about SEC filing dates

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^*

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)
02/13/2026

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	02/13/2026		S			50,000	02/13/2026	08/21/2026	Common Stock	50,000	$5.55	50,000	I	See footnotes(1)(2)
Call Option (obligation to sell)	$135	02/13/2026		S			50,000	02/13/2026	08/21/2026	Common Stock	50,000	$4.233	50,000	I	See footnotes(1)(2)
Call Option (obligation to sell)	$130	02/17/2026		S			250,000	02/17/2026	08/21/2026	Common Stock	250,000	$6.214	250,000	I	See footnotes(1)(2)
Call Option (obligation to sell)	$135	02/17/2026		S			250,000	02/17/2026	08/21/2026	Common Stock	250,000	$4.752	250,000	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)

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.

	/s/ Tilman J. Fertitta	02/18/2026
	Fertitta Entertainment, Inc., By: /s/ Paige Fertitta, President	02/18/2026
	Hospitality Headquarters, Inc., By: /s/ Paige Fertitta, President	02/18/2026
	Fertitta Entertainment, LLC, By: /s/ Steve Scheinthal, Vice President	02/18/2026
	** 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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