Company: CZR
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001193125-25-093716
Chunk: 51

Company: Caesars Entertainment, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 51
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 Adjusted EBITDA to be achieved for such Performance Year (each, a “Performance Year Target”). The percentage at which each Performance Year Target has been achieved will be averaged following the end of the full three-year performance period in order to calculate the cumulative percentage of achievement of the overall Adjusted EBITDA goals (the “Cumulative Percentage”). The average of three successive one-yearperiods is applied because the structure allows the most realistic Adjusted EBITDA performance targets to be set by management and the Compensation Committee with consideration of the most current financial information providing strong shareholder alignment. Based on the payout percentage (the “Payout Percentage”) applicable to the Cumulative Percentage, a number of PSUs as a percentage of the target number of PSUs granted in respect of the Adjusted EBITDA metric (the “EBITDA Target Award”) will remain eligible to vest subject to continued employment at the end of the total three-year performance period. The Adjusted EBITDA performance target and actual achievement is disclosed annually in our CD&A. Please reference “Annual Incentives (Cash-Based Bonus Plan)” on page 35 for the fiscal year 2024 Adjusted EBITDA performance target and actual achievement. The payout slopes for this portion of the 2024 LTI awards are the same as the payout slopes established for the 2024 annual incentive plan (i.e., 90% achievement results in 50% payout, 100% achievement results in 100% payout and 115% achievement and above results in 200% payout).

| • |     | If the Cumulative Percentage is less than 90%, then the Payout Percentage related to the EBITDA Target Award will be 0%. |

| • |     | Straight-line interpolation will be used to determine the Payout Percentage for any Cumulative Percentage between 90% and 100% and between 100% and 115%, based upon the Payout Percentages set forth above. |

The Compensation Committee reserves the authority to make appropriate adjustments to the calculations and determinations of the applicable performance targets/level of achievement. The 2024 annual LTI grants to the NEOs were as follows:

| EXECUTIVE NAME          |     | TARGET AS A % 
 OF SALARY     |     |   | RSU* TARGET 
 GRANT VALUE |     |   | PSU* TARGET 
 GRANT VALUE |
|:------------------------|:----|:--------------|:----|:--|------------:|:----|:--|