Thomas Reeg - 01 Jan 2026 Form 4 Insider Report for Caesars Entertainment, Inc. (CZR)

Role: Chief Executive Officer, Director
Signature: /s/ Jill Eaton, by power of attorney
Issuer symbol: CZR
Transactions as of: 01 Jan 2026
Net transactions value: -$226,341
Form type: 4
Filing time: 05 Jan 2026, 18:31:35 UTC
Previous filing: 27 Feb 2025
Next filing: 27 Jan 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Reeg Thomas	Chief Executive Officer, Director	C/O CAESARS ENTERTAINMENT, INC., 100 WEST LIBERTY STREET 12TH FLOOR, RENO	/s/ Jill Eaton, by power of attorney	05 Jan 2026	0001415959

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CZR	Common Stock	Options Exercise	$0	+23,375	+7.6%	$0.000000	331,091	01 Jan 2026	By Irrevocable Family Trust	F1
transaction	CZR	Common Stock	Tax liability	$226,341	-9,607	-2.9%	$23.56	321,484	02 Jan 2026	By Irrevocable Family Trust	F1
holding	CZR	Common Stock						6,240	01 Jan 2026	By 401(k) Plan
holding	CZR	Common Stock						240,419	01 Jan 2026	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CZR	Restricted Stock Unit	Options Exercise	$0	-23,375	-50%	$0.000000	23,376	01 Jan 2026	Common Stock	23,375		By Irrevocable Family Trust	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Restricted stock units convert into common stock on a one-for-one basis.
F2	Restricted stock units were granted on January 26, 2024, pursuant to the Amended and Restated 2015 Equity Incentive Plan. This installment vested on January 1, 2026. The restricted stock units do not expire.