PENN Entertainment, Inc. — Director's Dealing 2017

Oct 10, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENN NATIONAL GAMING INC (PENN)
CIK: 0000921738
Period of Report: 2017-10-05

Reporting Person: WILMOTT TIMOTHY J (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-10-05	Common Stock	M	64416	$8.19	Acquired	520116	Direct
2017-10-05	Common Stock	S	64416	$24.14	Disposed	455700	Direct
2017-10-06	Common Stock	M	20020	$8.19	Acquired	475720	Direct
2017-10-06	Common Stock	S	20020	$24.07	Disposed	455700	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-10-05	Non Qualified Stock Options (right to buy)	$8.19	M	64416	Disposed	2018-01-03	Common Stock (64416)	Direct
2017-10-06	Non Qualified Stock Options (right to buy)	$8.19	M	20020	Disposed	2018-01-03	Common Stock (20020)	Direct

Footnotes

F1: The transactions on this Form 4 were made pursuant to a stock trading plan established pursuant to rule 10b5-1. The options subject to the transactions reported on this Form 4 would have expired on January 3, 2018.

F2: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $24.00 to $24.62. The reporting person undertakes to provide to Penn National Gaming, Inc., any security holder of Penn National Gaming, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in the footnote to this Form 4.

F3: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $24.00 to $24.29. The reporting person undertakes to provide to Penn National Gaming, Inc., any security holder of Penn National Gaming, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in the footnote to this Form 4.

F4: The option award, representing a right to purchase 200,000 shares, became exercisable in four equal installments on the anniversary date of the grant, beginning January 3, 2012 and expiring on January 3, 2018.