Company: CZR
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001590895-25-000068
Chunk: 97

Company: Caesars Entertainment, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 97
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, 2024.Performance Stock Unit ActivityDuring the year ended December 31, 2024, the Company granted PSUs to employees of the Company with an aggregate fair value of $5 million as of December 31, 2024. On the vesting date, recipients will receive between 0% and 200% of the target number of PSUs granted, in the form of Company Common Stock, based on the achievement of specified performance conditions and terms of the underlying award agreement. The fair value of the PSUs is based on the market price of our common stock when a mutual understanding of the key terms and conditions of the awards between the Company and recipient is achieved. The awards are remeasured each period until such an understanding is reached.A summary of the PSUs 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, 2023328,230 $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. 

Table of Contents89

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

A summary of the MS