Form 4: Boyd Gaming Exec Realigns Share Holdings

Marianne Boyd Johnson, Executive Chairman of Boyd Gaming, reported a re-allocation of her indirect shareholdings through various trusts and limited partnerships.

Summary

• Marianne Boyd Johnson, Executive Chairman, Director, and 10% Owner of Boyd Gaming Corp (BYD), reported changes in her beneficial ownership.
• On August 18, 2025, BG-00 Limited Partnership distributed 909,091 shares of common stock to the Marianne Boyd Johnson Gaming Properties Trust and three additional beneficiaries.
• Concurrently, Marianne Boyd Johnson, as Trustee of the Marianne Boyd Johnson Gaming Properties Trust, received 300,000 shares of common stock as part of this distribution.
• Following these transactions, Marianne Boyd Johnson's direct beneficial ownership remains at 39,088 shares.
• Her indirect beneficial ownership includes 1,487,858 shares held by BG-00 Limited Partnership, 1,804,379 shares by Marianne Boyd Johnson Gaming Properties Trust, 4,800,000 shares by WSB-BYD, LLC, 25,555 shares by Justin Boyd Education Trust, 90,964 shares by Johnson Children's Trust, 1,100,000 shares by BG-SUB, LLC, and 4,004,000 shares by BYD-SST LLC.
• The reporting person disclaims beneficial ownership of any securities except for those directly owned or to the extent of her pecuniary interest in the entities holding the securities.

Sentiment

Score: 5

Explanation: The filing is a factual report of internal share re-allocation among entities controlled by the Executive Chairman, not an open market transaction or a reflection of company performance, thus indicating a neutral sentiment.

Related Party Transactions

• The filing details transactions involving the distribution and receipt of shares between BG-00 Limited Partnership and the Marianne Boyd Johnson Gaming Properties Trust, both of which are entities indirectly controlled by or related to the reporting person, Marianne Boyd Johnson.

Stakeholder Impact

• Minimal direct impact on public shareholders, as the transactions represent an internal re-allocation of existing shares among entities controlled by the Executive Chairman, rather than a sale or purchase on the open market that would affect share supply or demand.

Key Dates

Recommendation

The filing details an internal re-allocation of shares among entities controlled by the Executive Chairman and does not reflect open market transactions or provide new insights into the company's operational or financial performance, thus warranting a neutral 'hold' stance.

Keywords

Boyd Gaming, BYD, SEC Form 4, Insider Transaction, Shareholding, Executive Chairman, Marianne Boyd Johnson, Gaming, Casino