PENN Entertainment, Inc. — Director's Dealing 2017

Jul 25, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENN NATIONAL GAMING INC (PENN)
CIK: 0000921738
Period of Report: 2017-07-23

Reporting Person: Sottosanti Carl (EVP,Gen Counsel & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-07-23	Common Stock	M	28735	—	Acquired	54566	Direct
2017-07-23	Common Stock	D	28735	$20.5	Disposed	25831	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-07-23	Phantom Stock Units	$	M	28735	Acquired		Common Stock (28735)	Direct

Footnotes

F1: The recipient receives a cash payment for each unit equal to the fair market value on the vesting date of one share of the Company's stock. Represents the last vesting of phantom stock units granted on July 23, 2014 to all executive officers in connection with one-time equity awards made in 2014 under the Transition Award Program.