Form 4: Wynn Resorts CEO Craig Billings Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Craig Billings, CEO of Wynn Resorts, reports the withholding of shares to cover tax obligations upon vesting of restricted stock.
Summary
- Craig Billings, the CEO of Wynn Resorts, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- The transactions involved the withholding of shares to satisfy tax obligations related to the vesting of restricted stock granted on January 12, 2022, January 12, 2023, and January 9, 2024.
- A total of 3,440, 3,293, and 3,388 shares were withheld at a price of $89.32 per share on February 28, 2025.
- Following these transactions, Billings directly owns 300,198 shares of common stock and indirectly owns 60,000 shares through a family trust.
- He also holds performance share units that convert into common stock, with 20,916 units exercisable on January 1, 2026, 21,521 units on January 1, 2027, and 24,864 units on January 1, 2028.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing (Form 4) detailing changes in beneficial ownership due to tax withholding. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the holdings and transactions of company insiders. This filing indicates standard practice of withholding shares for tax obligations upon vesting of restricted stock.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 01/12/2022 | Date of original grant of restricted stock, shares withheld on 02/28/2025. |
| 01/12/2023 | Date of original grant of restricted stock, shares withheld on 02/28/2025. |
| 01/09/2024 | Date of original grant of restricted stock, shares withheld on 02/28/2025. |
| 02/28/2025 | Transaction date for the withholding of shares to cover tax obligations. |
| 03/03/2025 | Date of filing of the Form 4. |
| 01/01/2026 | Date performance share units become exercisable. |
| 01/01/2027 | Date performance share units become exercisable. |
| 01/01/2028 | Date performance share units become exercisable. |
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