SEC Form 4 · accession 0000858339-19-000003
CAESARS ENTERTAINMENT Corp · CZR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark P Frissora
Officer — President and CEO · Director
Period of report
Jan 30, 2019
Accepted (ET)
Feb 1, 2019 · 8:37 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000858339
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee stock option (right to buy)F1,F2 | $9.45 | Jan 30, 2019 | A | 150,000 | A | — | Feb 5, 2025 | Common Stock | 150,000 | 400,000 | D |
Explanation of responses
- F1On February 5, 2015, the reporting person was awarded performance-based options to purchase 200,000 shares of common stock at a 5% EBITDA performance target and 200,000 shares of common stock at a 7.5% EDITDA performance target. Each option vests in four equal installments based on the Registrant's satisfaction of the performance criteria for each of the fiscal years ending December 31, 2015, 2016, 2017, and 2018. The performance options are eligible to vest based on a catch-up provision. The performance criteria in 2017 and 2018 for both targets were met, and approved for vesting as of February 4, 2019, resulting in vesting of 50,000 shares at 5% EBITDA performance and 100,000 shares at 7.5% EBITDA performance for a total of 150,000 shares.
- F2Options are exercisable as of February 4, 2019.