Form 4: Director Marla Kaplowitz Acquires Phantom Stock Units in PENN Entertainment

Marla Kaplowitz, a director of PENN Entertainment, acquired 12,994 phantom stock units representing the company's common stock on January 3, 2025.

Summary

• On January 3, 2025, Marla Kaplowitz, a director of PENN Entertainment, acquired 12,994 phantom stock units.
• These phantom stock units represent the right to receive a cash payment equal to the fair market value of one share of PENN Entertainment's common stock on the vesting date.
• The reporting person elected to receive the 2025 annual equity award for directors in phantom stock units.
• Following the transaction, Ms. Kaplowitz beneficially owns 12,994 derivative securities.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects a standard equity compensation practice, indicating confidence in the company's future performance.

Positives

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders, as the value is tied to the company's stock performance.

Future Outlook

The director will receive a cash payment for each phantom stock unit equal to the fair market value on the vesting date of one share of the Company's common stock.

Management Comments

• The reporting person elected to receive the 2025 annual equity award for directors in phantom stock units.

Industry Context

This filing is a routine disclosure of a director's equity compensation, which is a common practice in publicly traded companies to incentivize and align the interests of board members with shareholders.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.

Key Dates