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  4. [Form 4] WYNN RESORTS LTD Insider Trading Activity

Tilman Fertitta entities sell Wynn (WYNN) call options expiring 2026

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

Rhea-AI Filing Summary

Entities associated with Tilman J. Fertitta, a 10% owner of Wynn Resorts Ltd, reported selling call options on Wynn common stock in a series of open-market derivative transactions on February 11, 2026.

The Form 4 lists five sales of call options, each labeled an obligation to sell Wynn common stock, with strike prices of $125 to $140 and expiration dates in August 2026. Reported option sale prices range from $4.43 to $8.1035. The options are held of record by Hospitality Headquarters, Inc. and Fertitta Entertainment, LLC, which are indirectly owned through Fertitta Entertainment, Inc., and Mr. Fertitta may be deemed to share beneficial ownership of these securities.

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 ($3.83M)
Type Security Shares Price Value
Sale Call Option (obligation to sell) 200,000 $8.1035 $1.62M
Sale Call Option (obligation to sell) 100,000 $5.0184 $502K
Sale Call Option (obligation to sell) 100,000 $7.053 $705K
Sale Call Option (obligation to sell) 100,000 $5.632 $563K
Sale Call Option (obligation to sell) 100,000 $4.43 $443K
Holdings After Transaction: Call Option (obligation to sell) — 200,000 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 Hospitality Headquarters, Inc. 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)
02/11/2026
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) $125 02/11/2026 S 200,000 08/28/2026 08/28/2026 Common Stock 200,000 $8.1035 200,000 I See footnotes(1)(2)
Call Option (obligation to sell) $135 02/11/2026 S 100,000 08/28/2026 08/28/2026 Common Stock 100,000 $5.0184 100,000 I See footnotes(1)(2)
Call Option (obligation to sell) $130 02/11/2026 S 100,000 02/11/2026 08/21/2026 Common Stock 100,000 $7.053 100,000 I See footnotes(1)(3)
Call Option (obligation to sell) $135 02/11/2026 S 100,000 02/11/2026 08/21/2026 Common Stock 100,000 $5.632 100,000 I See footnotes(1)(3)
Call Option (obligation to sell) $140 02/11/2026 S 100,000 02/11/2026 08/21/2026 Common Stock 100,000 $4.43 100,000 I See footnotes(1)(3)
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 Hospitality Headquarters, Inc.
3. The options are held of record by Fertitta Entertainment, LLC.
/s/ Tilman J. Fertitta 02/13/2026
Fertitta Entertainment, Inc., By: /s/ Paige Fertitta, President 02/13/2026
Hospitality Headquarters, Inc., By: /s/ Paige Fertitta, President 02/13/2026
Fertitta Entertainment, LLC, By: /s/ Steve Scheinthal, Vice President 02/13/2026
** 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 activity did WYNN report for Tilman Fertitta on this Form 4?

Entities associated with Tilman J. Fertitta sold call options on Wynn Resorts common stock. The filing shows five open-market sales of call options, each representing an obligation to sell Wynn shares at fixed strike prices before specified 2026 expiration dates.

What type of securities were involved in Tilman Fertitta’s WYNN transactions?

The transactions involved derivative securities in the form of call options. Each option is described as a call option with an obligation to sell Wynn Resorts common stock, with clearly stated strike prices, expiration dates, and per-option sale prices in the Form 4.

Which entities actually hold the WYNN options linked to Tilman Fertitta?

The options are held of record by Hospitality Headquarters, Inc. and Fertitta Entertainment, LLC. Footnotes explain these entities are indirectly owned through Fertitta Entertainment, Inc., and Tilman J. Fertitta may be deemed to share beneficial ownership of their Wynn-related securities.

What strike and expiration terms apply to the WYNN call options sold?

The call options have strike prices between $125 and $140 with 2026 expirations. Some options expire on August 28, 2026, while others expire on August 21, 2026, as disclosed in the derivative securities table of the Form 4 filing.

Were the WYNN call option sales reported as open-market transactions?

Yes, they are reported as open-market or private sales. Each transaction uses code “S” for a sale and is described in the normalized data as an open-market sale, indicating disposals of derivative positions rather than acquisitions of additional call options.