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600K Wynn Resorts (WYNN) call options sold by Fertitta affiliate

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

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.

Positive

  • None.

Negative

  • None.
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) — 250,000 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.
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
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.
* 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.

Source: View Original Filing on SEC EDGAR

FAQ

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.

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.