PENN Entertainment, Inc. — Director's Dealing 2024

Jan 5, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENN Entertainment, Inc. (PENN)
CIK: 0000921738
Period of Report: 2024-01-03

Reporting Person: NAPLES RONALD J (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-01-04	Common Stock	M	8541	—	Acquired	29128	Direct
2024-01-04	Common Stock	D	8541	$24.61	Acquired	20587	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-01-03	Phantom Stock Units	$	A	9634	Acquired	2025-01-03	Common Stock (9634)	Direct
2024-01-04	Phantom Stock Units	$	M	8541	Disposed	2024-01-04	Common Stock (8541)	Direct

Footnotes

F1: The reporting person receives a cash payment for each phantom stock unit equal to the fair market value on the vesting date of one share of the Company's common stock.

F2: The reporting person will receive a cash payment for each phantom stock unit equal to the fair market value on the vesting date of one share of the Company's common stock. The reporting person elected to receive the 2024 annual equity award for directors in phantom stock units.