PENN Entertainment, Inc. — Director's Dealing 2017

Jan 31, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENN NATIONAL GAMING INC (PENN)
CIK: 0000921738
Period of Report: 2017-01-29

Reporting Person: WILMOTT TIMOTHY J (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-01-29	Common Stock	M	9162	—	Acquired	442618	Direct
2017-01-29	Common Stock	D	9162	$13.98	Disposed	433456	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-01-29	Phantom Stock Unit	$	M	9162	Disposed		Common Stock (9162)	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.