Form 4: PENN Entertainment Director Barbara Shattuck Kohn Reports Stock Transactions

Director Barbara Shattuck Kohn of PENN Entertainment reported the acquisition and disposal of common stock and phantom stock units on January 3, 2025.

Summary

• Barbara Shattuck Kohn, a director at PENN Entertainment, engaged in several transactions involving the company's stock on January 3, 2025.
• She acquired 9,634 shares of common stock through the vesting of phantom stock units.
• She then disposed of these 9,634 shares at a price of $19.24 per share.
• Following these transactions, she directly owns 28,541 shares of common stock.
• She also owns 1,750 shares indirectly through her late spouse's estate, for which she disclaims beneficial ownership.
• Additionally, she acquired 12,994 phantom stock units, which will vest on January 3, 2026, and will be paid in cash equal to the fair market value of one share of common stock on the vesting date.
• She also had 9,634 phantom stock units vest and convert to cash.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of insider transactions, which is neither positive nor negative in itself. It is a neutral event.

Future Outlook

The reporting person 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.

Industry Context

This filing is a routine disclosure of insider transactions, which is common for publicly traded companies like PENN Entertainment. It provides transparency into the trading activities of company directors.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider trading.
• The transactions are typical for directors who receive equity compensation as part of their remuneration.
• The use of phantom stock units is a common method of equity compensation, aligning director interests with shareholder value.

Stakeholder Impact

• The transactions have a minimal impact on shareholders as they are part of a director's compensation and do not represent a significant change in ownership.

Key Dates

Keywords

PENN Entertainment, stock transactions, Form 4, insider trading, phantom stock units, director, Barbara Shattuck Kohn