Wynn Resorts director sells 4,438 shares under 10b5-1 plan at $125

Rhea-AI Filing Summary

Patricia Mulroy, a director of Wynn Resorts Ltd (WYNN), reported option exercise and share sale transactions effected under a Rule 10b5-1 trading plan. On 09/02/2025 she exercised 4,438 stock options with an exercise price of $68.25 per share and immediately sold 4,438 shares at $125.00 per share. Following the reported transactions her direct beneficial ownership is reported as 3,066 shares and another line shows 7,504 shares and an indirect holding of 8,385.34 shares associated with a family trust as reported on the form. The filing states the transactions were effected pursuant to a Rule 10b5-1 trading plan and are signed by an attorney-in-fact.

Positive

• Transactions executed under a Rule 10b5-1 trading plan, indicating prearranged and compliant trading
• Form signed by an attorney-in-fact, showing procedural execution and authorization

Negative

• Director's direct beneficial ownership decreased to 3,066 shares after the reported transactions
• Insider sold 4,438 shares, representing realized insider liquidity

Insights

Financial Analyst

TL;DR: Director exercised 4,438 options and sold 4,438 shares under a Rule 10b5-1 plan; net direct holdings materially decreased.

The filing documents a routine, prearranged insider transaction rather than an ad hoc trade. Exercising options at $68.25 and selling at $125.00 realized a substantial per-share spread, converting option value to cash while reducing direct shareholdings to 3,066 shares. The presence of an indirect family trust holding of 8,385.34 shares means total economic exposure is partly preserved off-balance direct holdings. For investors, this is an informative disclosure of insider liquidity but not, by itself, an operational signal about company fundamentals.

Corporate Governance Expert

TL;DR: Transactions were executed under a documented 10b5-1 plan and were attorney-signed, indicating procedural compliance.

The Form 4 clearly notes the trades were effected pursuant to a Rule 10b5-1 trading plan and includes an attorney-in-fact signature, which supports compliance with insider-trading controls. The report lists both direct and indirect holdings including a family trust; that distinction is important for assessing actual voting and economic exposure. This filing is a standard required disclosure of insider liquidity activity rather than a governance red flag.

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^*

Mulroy Patricia

(Last) (First) (Middle)

C/O WYNN RESORTS, LIMITED

3131 LAS VEGAS BOULEVARD SOUTH

(Street)

LAS VEGAS NV 89109

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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

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

X	Form filed by One Reporting Person
	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
Common Stock, par value $0.01 per share	09/02/2025		M		4,438(1)(2)	A	$68.25	7,504	D
Common Stock, par value $0.01 per share	09/02/2025		S		4,438(1)(2)	D	$125	3,066	D
Common Stock, par value $0.01 per share								8,385.34	I	Family Trust

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
Stock Options (right to buy)	$68.25	09/02/2025		M			4,438(1)(2)	10/19/2015	10/19/2025	Common Stock, par value $0.01 per share	4,438	$0	0	D

Explanation of Responses:

1. Represents multiple transactions for the same price.

2. The transactions reported were effected by the reporting person, pursuant to a Rule 10b5-1 trading plan.

Remarks:

	/s/ Nicholas Pannucci, attorney-in-fact for Patricia Mulroy	09/03/2025
	** 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 insider transactions did Patricia Mulroy report on the WYNN Form 4?

The Form 4 shows Ms. Mulroy exercised 4,438 stock options at an exercise price of $68.25 and sold 4,438 shares at $125.00 on 09/02/2025.

Were the transactions executed under a Rule 10b5-1 trading plan?

Yes. The filing states the transactions were effected pursuant to a Rule 10b5-1 trading plan.

What were Patricia Mulroy's reported holdings after the transactions?

The Form 4 reports 3,066 shares as direct beneficial ownership and references 7,504 shares on one line and an indirect family trust holding of 8,385.34 shares.

When were the transactions executed?

The transactions were dated 09/02/2025 and the Form 4 was signed on 09/03/2025 by an attorney-in-fact.

Who signed the Form 4 for Patricia Mulroy?

The Form 4 is signed by Nicholas Pannucci, attorney-in-fact for Patricia Mulroy.