Company: CZR
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001590895-25-000068
Chunk: 648

Company: Caesars Entertainment, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1A
Chunk 648
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8,230 $46.88 Granted161,688 33.42 Performance Adjustment27,314 Vested(99,377)41.66 Forfeited(20,699)39.86 Unvested outstanding as of December 31, 2024397,156 33.42 ____________________(a)This represents the weighted-average grant date fair value for PSUs where the grant date has been achieved or the price of our common stock as of the balance sheet date for PSUs where a grant date has not been achieved.Market-Based Stock Unit ActivityDuring the year ended December 31, 2024, the Company granted MSUs to employees of the Company with an aggregate fair value of $26 million. On the vesting date, recipients will receive between 0% and 200% of the granted MSUs in the form of Company Common Stock based on the achievement of specified market and service conditions. Based on the terms and conditions of the awards, the grant date fair value of the MSUs was determined using a Monte Carlo simulation model. Key assumptions for the Monte Carlo simulation model are the risk-free interest rate, expected volatility, expected dividends and correlation coefficient. The effect of market conditions is considered in determining the grant date fair value, which is not subsequently revised based on actual performance. 

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CAESARS ENTERTAINMENT, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

A summary of the MSUs activity for the year ended December 31, 2024 is presented in the following table:UnitsWeighted Average Grant Date Fair Value (a)Unvested outstanding as of December 31, 2023872,019 $85.11 Granted435,536 58.56 Performance Adjustment(154,420)Vested(18,713)63.99 Forfeited(38,318)77.95 Unvested outstanding as of December 31, 20241,096,104 73.15 ____________________(a)Represents the grant date fair value determined using a Monte Carlo simulation model.Stock Option ActivityThere was no stock option activity during the year ended December 31, 2024.Stock Option ExercisesYears Ended December 31,(Dollars in millions)202420232022Option Exercises:Number of options exercised— 88 43,384 Cash received for options exercised$— $— $1 Aggregate intrinsic