Company: CZR
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001193125-25-093716
Chunk: 39

Company: Caesars Entertainment, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 39
---
”), and 20% on Adjusted EBITDA performance, both measured over a three-year period. Prior to 2024, the long-term incentive PSUs for our CEO and other 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 short-term incentive (“STI”) program, which includes Adjusted EBITDA performance, and the long-term incentive (“LTI”) program in order to address shareholder feedback. The Compensation Committee believes that the threshold levels of performance that must be met before any PSUs are earned are rigorous and challenging. The other 50% of our CEO’s and other NEOs’ long-term incentive grants in 2024 was in the form of time-based restricted stock units (“RSUs”), which vest ratably over three years subject to continued employment. 2024 Contract Renewal Awards In addition to regular annual compensation, as discussed below and previously disclosed in our 2024 proxy statement, the Compensation Committee sought to extend the term of employment for each of our executive officers. The Compensation Committee views the current members of the executive leadership team as being critical to the Company’s success and ability to drive shareholder value. As a result, the Compensation Committee believes that the retention of the current management team as a cohesive unit is critical to the successful execution of the Company’s strategic plan. To align with this goal, and to further align our NEOs interests with those of shareholders, we amended the employment agreements for each of the NEOs to extend the term of employment by two years, with automatic one-yearrenewals thereafter. As consideration for each of our executive officer’s agreement to extend their employment term, each NEO was granted a “sign-on”equity award of time-based RSUs (“Contract Renewal Awards” and each, a “Contract Renewal Award”) in the following amounts: Mr. Reeg 70,126, Mr. Anthony L. Carano 82,509, Mr. Yunker 57,754, Mr. Quatmann 49,505 and Ms. Lepori 14,750. The Contract Renewal Awards vest in equal one-thirdinstallments over the remaining three-year term of employment on each of the first three anniversaries of January 1, 2024, subject to the NEO’s continued service on each applicable vesting date. See “2024 Executive Officer Employment Agreement