Company: CZR
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001193125-25-093716
Chunk: 49

Company: Caesars Entertainment, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 49
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 our CEO and other

| 36 |     | 2025 PROXY STATEMENT |

#### NEOs were based 65% on rTSR performance, and 35% based on Adjusted EBITDA performance. The Compensation Committee adjusted the equity compensation mix of PSUs by decreasing the magnitude of the overlapping metrics between the STI program, which includes Adjusted EBITDA performance, and the LTI program in order to address shareholder feedback.Based on a thorough review of Aon’s independent market data described above, the Compensation Committee established annual target LTI levels which were used to determine the target grant date value of LTI awards made to executive officers during 2024.Consistent with the Compensation Committee’s evaluation of each executive officer’s base salary described above, the Compensation Committee determined to increase the 2024 target grant date LTI award opportunity (as a percentage of base salary) for Messrs. Reeg, Anthony L. Carano and Quatmann, and Ms. Lepori. Mr. Yunker’s 2024 target grant date LTI award opportunity remained unchanged from his 2023 LTI award opportunity. Target LTI award opportunity increases were based on a combination of external competitive market data from the annual Aon study and internal alignment objectives.Each NEO’s target grant date LTI award opportunity for 2024 is set forth in the table below:EXECUTIVE NAME2024 LTI AWARD TARGET OPPORTUNITY(AS A % OF BASE SALARY)2023 LTI AWARD TARGET OPPORTUNITY(AS A % OF BASE SALARY)ChangeThomas R. Reeg475%450%25 ptsBret Yunker300%300%No ChangeAnthony L. Carano325%300%25 ptsEdmund L. Quatmann, Jr.250%200%50 ptsStephanie Lepori250%200%50 ptsThe LTI award target opportunity shown above does not include the Contract Renewal Award granted to each NEO during 2024. For additional information regarding the Contract Renewal Award granted to each NEO in consideration for their agreement to extend their employment agreements with the Company, see “2024 Executive Officer Employment Agreement Extensions”.Relative Total Shareholder Return (“rTSR”)The portion of the 2024 annual LTI awards that is based on rTSR is intended to motivate our senior management team to maximize the wealth accumulation of our shareholders by outperforming the S&P 500. rTSR is critical because it ties executive officer compensation to