Form 4: Marianne Boyd Johnson Reports Changes in Beneficial Ownership of Boyd Gaming Corp Shares

Marianne Boyd Johnson, Executive Chairman of Boyd Gaming Corp, reports a distribution and receipt of shares, impacting her beneficial ownership.

Summary

• Marianne Boyd Johnson, Executive Chairman of Boyd Gaming Corp, filed a Form 4 detailing changes in her beneficial ownership of the company's common stock.
• On March 6, 2025, BG-00 Limited Partnership distributed 909,091 shares of common stock to the Marianne Boyd Johnson Gaming Properties Trust and three other beneficiaries.
• Marianne Boyd Johnson received 300,000 shares of common stock in distribution from BG-00 Limited Partnership on the same date.
• Following these transactions, Johnson's directly owned shares decreased by 39,088.
• Johnson's indirect ownership is held through various entities, including BG-00 Limited Partnership (2,387,949 shares), Marianne Boyd Johnson Gaming Properties Trust (1,604,379 shares), WSB-BYD, LLC (4,800,000 shares), Justin Boyd Education Trust (25,555 shares), Johnson's Children's Trust (90,964 shares), BG-SUB, LLC (1,100,000 shares), and BYD-SST LLC (4,004,000 shares).

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Management Comments

• The reporting person expressly disclaims beneficial ownership of any securities of the Issuer except for those securities that are owned directly by the Reporting Person or to the extent of the Reporting Person's pecuniary interest in a trust or other entity which owns such securities.

Industry Context

This filing is a routine disclosure required by Section 16(a) of the Securities Exchange Act of 1934, providing transparency into the holdings and transactions of company insiders. Similar filings are common for executives and major shareholders in publicly traded companies like Las Vegas Sands (LVS) and MGM Resorts International (MGM).

Comparison to Industry Standards

• Form 4 filings are standard practice for executives at publicly traded companies, such as Boyd Gaming (BYD), MGM Resorts (MGM), and Caesars Entertainment (CZR).
• The level of detail provided in this Form 4 is consistent with regulatory requirements and industry norms.
• The indirect ownership structure through trusts and LLCs is a common estate planning and asset management strategy among high-net-worth individuals, including corporate executives.

Stakeholder Impact

• The changes in beneficial ownership may be of interest to shareholders, as they provide insight into the holdings of a key executive.
• The filing ensures transparency and compliance with SEC regulations.

Key Dates