Bally's Corp — Director's Dealing 2020

Jan 3, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Twin River Worldwide Holdings, Inc. (TRWH)
CIK: 0001747079
Period of Report: 2019-12-31

Reporting Person: Papanier George T. (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-12-31	Common Stock	M	20392	—	Acquired	277896	Direct
2019-12-31	Common Stock	F	9246	$25.65	Disposed	268650	Direct
2020-01-01	Common Stock	M	5836	—	Acquired	274486	Direct
2020-01-01	Common Stock	M	15464	—	Acquired	289950	Direct
2020-01-01	Common Stock	F	9958	$25.65	Disposed	279992	Direct
2020-01-02	Common Stock	A	10836	—	Acquired	290828	Direct
2020-01-02	Common Stock	F	4914	$25.28	Disposed	285914	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-12-31	Restricted Stock Unit	$	M	20392	Disposed		Common Stock (20392.0)	Direct
2020-01-01	Restricted Stock Unit	$	M	5836	Disposed		Common Stock (5836.0)	Direct
2020-01-01	Restricted Stock Unit	$	M	15464	Disposed		Common Stock (15464.0)	Direct
2020-01-02	Restricted Stock Unit	$	A	61117	Acquired		Common Stock (61117.0)	Direct

Footnotes

F1: Restricted stock units were settled in shares of common stock on a one-for-one basis. Accordingly, there was no purchase price paid by the reporting person.

F2: On December 31, 2019, 20,392 restricted stock units vested. Twin River Worldwide Holdings, Inc. (the "Company") retained 9,246 shares of Company common stock on that date to satisfy certain tax withholding obligations in connection with the vesting.

F3: On January 1, 2020, 21,300 restricted stock units vested. The Company retained 9,958 shares of Company common stock on that date to satisfy certain tax withholding obligations in connection with the vesting.

F4: On March 24, 2017, the reporting person was granted 10,836 performance units eligible to vest at target levels of performance (with vesting of more or less shares possible based on actual performance) based on the extent to which certain financial and other strategic goals were met for the year ended December 31, 2019. Based on the performance of the Company against the applicable strategic goals, 10,836 performance units subject to such criteria vested on January 2, 2020, resulting in the issuance of 10,836 shares of the Company's common stock to the reporting person.

F5: Performance stock units were settled in shares of common stock on a one-for-one basis. Accordingly, there was no purchase price paid by the reporting person.

F6: As described in footnote 4, on January 2, 2020, the reporting person became entitled to receive 10,836 shares of the Company's common stock. The Company retained 4,914 shares of Company common stock to satisfy certain tax withholding obligations in connection with the vesting.

F7: Each restricted stock unit represents the right to receive one share of the Company's common stock upon vesting in accordance with the terms of the reporting person's restricted stock unit agreement.

F8: On April 2, 2019, the reporting person was granted 40,784 restricted stock units vesting in two equal installments on December 31, 2019 and 2020, respectively.

F9: On March 24, 2017, the reporting person was granted 17,500 restricted stock units vesting in three equal installments on January 1, 2018, 2019, and 2020, respectively.

F10: On March 24, 2017 the reporting person was granted performance share units. 15,464 performance share units were earned and converted to an equal amount of restricted stock units based on the achievement of financial performance targets of the year ended December 31, 2017. These restricted stock units vested on January 1, 2020.

F11: On January 2, 2020, the reporting person was granted 61,117 restricted stock units vesting in three equal installments on January 15, 2020, January 2, 2021, and January 2, 2022, respectively.