PENN Entertainment, Inc. — Director's Dealing 2017

Apr 19, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENN NATIONAL GAMING INC (PENN)
CIK: 0000921738
Period of Report: 2017-04-17

Reporting Person: SCACCETTI JANE (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-04-17	Common Stock	M	3981	—	Acquired	9281	Direct
2017-04-17	Common Stock	D	3981	$18.32	Disposed	5300	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-04-17	Phantom Stock Unit	$	M	3981	Disposed		Common Stock (3981)	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 common stock. Of the original award of phantom stock units, 3,981 units vested on April 17, 2017. The remaining phantom stock units will vest as follows: 3,981 units on each of April 17, 2018 and April 17, 2019.