PENN Entertainment, Inc. — Director's Dealing 2021

Apr 13, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENN NATIONAL GAMING INC (PENN)
CIK: 0000921738
Period of Report: 2021-04-12

Reporting Person: Snowden Jay A (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-04-12	Common Stock	A	300000	$0.00	Acquired	491599	Direct
2021-04-12	Common Stock	A	38897	$0.00	Acquired	530496	Direct

Footnotes

F1: The restricted stock granted to the reporting person has performance conditions tied to achievement of 60-day stock price hurdles during the period ending on December 31, 2025. The shares of restricted stock vest in annual 1/3 increments over three years following achievement of the performance conditions. To satisfy a stock price hurdle the closing price of the issuer's common stock must exceed the stock price hurdle for 60 consecutive trading days. The stock price hurdles are $132.00, 20,000 shares of common stock are earned, $140.94, 30,000 shares of common stock are earned, $186.04, 50,000 shares of common stock are earned, $245.58, 75,000 shares of common stock are earned and $324.16, 125,000 shares of common stock are earned.

F2: This is the target amount of a performance-based restricted stock award issued to the reporting person for a three-year award period. The restricted stock remains subject to forfeiture for three years following the grant date.