[Form 4] WYNN RESORTS LTD Insider Trading Activity

Rhea-AI Filing Summary

Wynn Resorts (WYNN): Insider derivatives activity disclosed. On 11/05/2025, Tilman J. Fertitta and affiliated reporting persons filed a Form 4 reflecting sales of call options on WYNN conducted indirectly through affiliates.

Transactions: The filing lists three series of call options (each an “obligation to sell”) sold on 11/05/2025: 2,500 contracts at a $150 strike for $8.4435 per option; 2,500 contracts at a $160 strike for $6.3508; and 2,500 contracts at a $170 strike for $4.7449. Each series is exercisable on 06/18/2026 and expires on 06/18/2026, with 250,000 shares of WYNN common stock underlying each series.

Ownership is reported as indirect. Footnotes state Mr. Fertitta is the sole shareholder of Fertitta Entertainment, Inc., which owns Hospitality Headquarters, Inc. and indirectly owns Fertitta Entertainment, LLC; the options are held of record by Fertitta Entertainment, LLC.

Insights

Insider derivatives analyst

Fertitta affiliates wrote WYNN calls across three strikes on 11/05/2025.

The filing reports sales of call options with strikes at $150, $160, and $170, each dated 11/05/2025. Per the table, each tranche is 2,500 contracts and references 250,000 underlying shares, with per‑option premiums of $8.4435, $6.3508, and $4.7449. The options are shown as exercisable and expiring on 06/18/2026.

These are reported as indirect holdings, with footnotes attributing record ownership to Fertitta Entertainment, LLC and describing Mr. Fertitta’s upstream control. The transactions are categorized as sales of derivative securities, which obligate the seller to deliver shares at the strike if exercised.

The economic impact depends on future share price and holder actions. The disclosure documents terms and structure; actual exercise and share delivery, if any, would follow the 06/18/2026 timeline.

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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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)
11/05/2025

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)	$150	11/05/2025		S			2,500	06/18/2026	06/18/2026	Common Stock	250,000	$8.4435	2,500	I	See footnotes(1)(2)
Call Option (obligation to sell)	$160	11/05/2025		S			2,500	06/18/2026	06/18/2026	Common Stock	250,000	$6.3508	2,500	I	See footnotes(1)(2)
Call Option (obligation to sell)	$170	11/05/2025		S			2,500	06/18/2026	06/18/2026	Common Stock	250,000	$4.7449	2,500	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	11/07/2025
	Fertitta Entertainment, Inc., By: /s/ Paige Fertitta, President	11/07/2025
	Hospitality Headquarters, Inc., By: /s/ Paige Fertitta, President	11/07/2025
	Fertitta Entertainment, LLC, By: /s/ Steve Scheinthal, Vice President	11/07/2025
	** 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.

FAQ

What did Tilman Fertitta report trading in WYNN on 11/05/2025?

Sales of call options across three strikes: $150, $160, and $170, each in 2,500 contracts.

How many WYNN shares are referenced by the reported options?

Each option series references 250,000 shares of WYNN common stock.

What premiums were received per option contract?

Per‑option prices were $8.4435 at $150 strike, $6.3508 at $160, and $4.7449 at $170.

When do the reported options become exercisable and when do they expire?

Each series is exercisable on 06/18/2026 and expires on 06/18/2026.

How is ownership of the WYNN derivatives reported?

Ownership is indirect; the options are held of record by Fertitta Entertainment, LLC.

What is Tilman Fertitta’s relationship to WYNN noted in the filing?

The filing indicates roles including Director and 10% Owner.