SEC Form 4
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION | |||
OMB APPROVAL | |||
Washington, D.C. 20549 | |||
OMB Number: | 3235-0287 | ||
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP | Estimated average burden | ||
hours per response: | 0.5 | ||
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
1. Name and Address of Reporting Person *
CARLINO PETER M
(Last) | (First) | (Middle) |
825 BERKSHIRE BLVD SUITE 200 | ||
(Street) | ||
WYOMISSING | PA | 19610 |
(City) | (State) | (Zip) |
2. | Issuer Name and Ticker or Trading Symbol | 5. Relationship of Reporting Person(s) to Issuer | ||
PENN NATIONAL GAMING INC[ PENN ] | (Check all applicable) | |||
Director | 10% Owner | |||
3. | Date of Earliest Transaction (Month/Day/Year) | |||
Officer (give title | X | Other (specify | ||
02/09/2020 | ||||
below) | below) | |||
Chairman Emeritus | ||||
4. | If Amendment, Date of Original Filed (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable | ||
Line) | ||||
X Form filed by One Reporting Person | ||||
Form filed by More than One Reporting | ||||
Person | ||||
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) | 2. Transaction | 2A. Deemed | 3. | 4. Securities Acquired (A) or | 5. Amount of | 6. Ownership | 7. Nature | ||||||||||||||||||||||||
Date | Execution Date, | Transaction | Disposed Of (D) (Instr. 3, 4 and | Securities | Form: Direct | of Indirect | |||||||||||||||||||||||||
(Month/Day/Year) | if any | Code (Instr. | 5) | Beneficially | (D) or Indirect | Beneficial | |||||||||||||||||||||||||
(Month/Day/Year) | 8) | Owned Following | (I) (Instr. 4) | Ownership | |||||||||||||||||||||||||||
Reported | (Instr. 4) | ||||||||||||||||||||||||||||||
(A) or | |||||||||||||||||||||||||||||||
Code | V | Amount | Price | Transaction(s) | |||||||||||||||||||||||||||
(D) | (Instr. 3 and 4) | ||||||||||||||||||||||||||||||
Common Stock(1) | 02/09/2020 | M | 7,284 | A | (1) | 768,774 | D | ||||||||||||||||||||||||
Common Stock | 02/09/2020 | D | 7,284 | D | $34.32 | 761,490 | D | ||||||||||||||||||||||||
Common Stock | 4,730,923 | I(2)(3) | By | ||||||||||||||||||||||||||||
Trusts | |||||||||||||||||||||||||||||||
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned | |||||||||||||||||||||||||||||||
(e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||||||||||||||||||
1. Title of | 2. | 3. Transaction | 3A. Deemed | 4. | 5. Number | 6. Date Exercisable and | 7. Title and Amount | 8. Price | 9. Number of | 10. | 11. Nature | ||||||||||||||||||||
Derivative | Conversion | Date | Execution Date, | Transaction | of | Expiration Date | of Securities | of | derivative | Ownership | of Indirect | ||||||||||||||||||||
Security | or Exercise | (Month/Day/Year) | if any | Code (Instr. | Derivative | (Month/Day/Year) | Underlying | Derivative | Securities | Form: | Beneficial | ||||||||||||||||||||
(Instr. 3) | Price of | (Month/Day/Year) | 8) | Securities | Derivative Security | Security | Beneficially | Direct (D) | Ownership | ||||||||||||||||||||||
Derivative | Acquired | (Instr. 3 and 4) | (Instr. 5) | Owned | or Indirect | (Instr. 4) | |||||||||||||||||||||||||
Security | (A) or | Following | (I) (Instr. 4) | ||||||||||||||||||||||||||||
Disposed | Reported | ||||||||||||||||||||||||||||||
of (D) | Transaction(s) | ||||||||||||||||||||||||||||||
(Instr. 3, 4 | (Instr. 4) | ||||||||||||||||||||||||||||||
and 5) | |||||||||||||||||||||||||||||||
Amount | |||||||||||||||||||||||||||||||
or | |||||||||||||||||||||||||||||||
Number | |||||||||||||||||||||||||||||||
Date | Expiration | of | |||||||||||||||||||||||||||||
Code | V | (A) | (D) | Exercisable | Date | Title | Shares | ||||||||||||||||||||||||
Phantom | (1) | 02/09/2020 | M | 7,284 | (1) | (1) | Common | 7,284 | (1) | 0 | D | ||||||||||||||||||||
Stock Unit | Stock | ||||||||||||||||||||||||||||||
Explanation of Responses:
- 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.
- Includes 365,212 shares owned by a residuary trust for the benefit of Peter D. Carlino and Peter D. Carlino's children. The reporting person is a trustee of the residuary trust with shared voting and investment power. The reporting person disclaims beneficial ownership of the shares owned by the residuary trust, except to the extent to of his pecuniary interest therein, and this report should not be deemed an admission the reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.
- Includes 4,365,711 shares held by the Carlino Family Trust. The reporting person is a trustee of the trust with shared voting and investment power. The reporting person disclaims beneficial ownership of the shares owned by the trust, except to the extent of his pecuniary interest therein, and this report should not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.
/s/ Elliot Hoops as attorney-in- | 02/11/2020 |
fact for Peter M. Carlino | |
** Signature of Reporting Person | Date |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. * If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
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Penn National Gaming Inc. published this content on 11 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 February 2020 23:17:01 UTC