Form 4: Lorenzo Fertitta Disposes of 800,000 Red Rock Resorts Shares for Estate Planning

Lorenzo Fertitta, a director and 10% owner of Red Rock Resorts, disposed of 800,000 shares of Class A Common Stock for estate planning purposes.

Summary

• Lorenzo J. Fertitta, a director, 10% owner, and Vice President of Red Rock Resorts, Inc. [RRR], filed a Form 4 on May 15, 2024, regarding changes in beneficial ownership.
• On May 13, 2024, Fertitta disposed of 800,000 shares of Class A Common Stock at a price of $50.39 per share.
• The shares were disposed of by FJF, LLC and acquired by The Frank J. Fertitta, III 2006 Irrevocable Trust, an irrevocable trust established for the benefit of Frank J. Fertitta III's three children.
• Lorenzo J. Fertitta is the trustee of this trust and has sole investment and voting power.
• The sale was made for estate planning purposes.
• Following the transaction, Fertitta beneficially owns 47,447,301 shares of Class A Common Stock indirectly through various entities.
• Fertitta disclaims beneficial ownership of these shares except to the extent of any pecuniary interest therein.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction appears to be for estate planning purposes and doesn't necessarily reflect a change in the insider's view of the company.

Industry Context

This filing reflects insider activity related to estate planning, which is a common practice among high-net-worth individuals and may not necessarily indicate a change in the insider's confidence in the company's future prospects.

Key Dates