Company: CZR
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001193125-25-093716
Chunk: 53

Company: Caesars Entertainment, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 53
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 LTI grants made to executive officers during 2022 were 50% time-based RSUs vesting ratably over three years and 50% PSUs (based on dollar-denominated values). For 2022, 35% of the dollar-denominated values of the PSUs were based on our annual Adjusted EBITDA achievement for 2022, 2023 and 2024, and 65% were based on the Company’s three-year relative TSR ranking against the S&P 500, measured over a three-year period ending December 31, 2024. The 2022 PSU grant achieved an overall payout of 71.7% of the targeted number of awards as detailed below. 2022 Adjusted EBITDA PSU Following the end of the three-year performance period, the 2022 Adjusted EBITDA PSUs vested on January 29, 2025, with an average attainment of 98.1% of the applicable Adjusted EBITDA targets which resulted in a payout percentage of 90.5% of the target grants. The payout of the 2022 Adjusted EBITDA PSU was approved by the Compensation Committee based on Adjusted EBITDA of 92.3%, 100.4%, and 101.5%, of the following annual targets for the each of the years ended December 31, 2024, 2023 and 2022, respectively: $4,050 million for 2024, $3,954 million for 2023, $3,893 million for 2022. 2022 rTSR PSU At the end of the three-year performance period, it was determined that the ending average stock price over the 20-daytrading period prior to December 31, 2024, of $35.46 ranked in the 3rd percentile, which did not meet the threshold of the 35th percentile. The Compensation Committee considered the significant long-term value creation activities undertaken during the performance period, including the completion of new gaming facilities and major rebranding of existing properties, divestitures of non-coreassets, and strengthening of our balance sheet through debt reduction, refinancing to manage interest rates and the extension of related debt maturities. In addition, the executive team completed the divestiture of William Hill International and reinvested in our Digital segment with expansion of online sports betting and iGaming into new jurisdictions, development of new iGaming products with the launch of our Ca