Company: CZR
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001590895-25-000068
Chunk: 504

Company: Caesars Entertainment, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 504
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 date the Company’s stockholders approved the amendment. As of December 31, 2024, the Company had approximately 10 million shares available for grant under the 2015 Plan. Equity awards granted to employees and executive officers generally vest within one to three years from the grant date either ratably on each anniversary, or entirely at the end of the service period. Awards may also contain performance conditions in addition to time based vesting conditions. Performance awards relate to the achievement of defined levels of performance and will vest and become payable at the end of the vesting period. Performance awards may contain targeted performance levels, which may ultimately vest within a range of 0% to 200% of the target award, based on defined operating metrics or market performance as compared to a peer group. RSUs granted to non-employee directors generally vest immediately and are issued on the vesting date, or may be deferred.

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

Total stock-based compensation expense in the accompanying Statements of Operations was $94 million, $104 million and $101 million during the years ended December 31, 2024, 2023 and 2022, respectively. These amounts are included in Corporate expenses in the Company’s Statements of Operations.Restricted Stock Unit ActivityDuring the year ended December 31, 2024, the Company granted RSUs to employees of the Company with an aggregate fair value of $88 million. Each RSU represents the right to receive payment in respect of one share of the Company’s Common Stock. A summary of the RSUs 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, 20231,922,419 $60.11 Granted (b)2,020,005 43.77 Vested(1,055,671)62.64 Forfeited(217,942)49.06 Unvested outstanding as of December 31, 20242,668,811 47.64 ____________________(a)Represents the weighted-average grant date fair value of RSUs, which is the share price of our common stock on the grant date.(b)Included are 45,800 RSUs granted to non-employee members of the Board during the year ended December 31