Company: CZR
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001193125-25-093716
Chunk: 40

Company: Caesars Entertainment, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 40
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 Extensions” below.

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| Majority of CEO and NEO Total Target Compensation is At-Risk Approximately 87% of our CEO’s and approximately 80% of our other NEOs’ 2024 annual total target compensation was variable or “at-risk”, meaning the NEOs’ right to receive such payment, and the amount of such payment, depends on either the achievement of corporate objectives or stock price performance and continued employment. The Compensation Committee believes that these proportions of variable or at-risk compensation enhance the strong link between pay and performance for our CEO and other NEOs and the alignment of interests with those of the Company and its shareholders.   Our targeted pay mix (fixed salary vs. variable pay) reflects a combination of competitive market conditions and strategic business needs. The target total compensation opportunities based on 2024 compensation levels that were considered “at-risk” are shown below (percentages in the following charts may not add due to rounding):           (1)   Performance-based compensation (in the form of target annual bonus and PSUs) as a percentage of target total compensation for the CEO and other NEOs are approximately 56% and 52%, respectively. The value of the Contract Renewal Awards is excluded. |

Results of 2024 Advisory Vote on Executive Compensation (“Say-on-Pay”) The Compensation Committee and our Board considered the results of the advisory, non-bindingshareholder vote to approve executive compensation presented at our 2024 annual meeting of shareholders, where approximately 82% of votes cast approved the compensation program described in our proxy statement for the 2024 annual meeting of shareholders. We currently hold such say-on-payvotes on an annual basis. The Compensation Committee takes seriously its role in the governance of our compensation programs and values thoughtful input from our shareholders, and will consider the results of future say-on-payvotes in connection with making future compensation-related decisions to the extent it deems it appropriate to do so. Our shareholders previously expressed a desire for less overlapping performance goals in our executive compensation program. As described further below under “Changes to Equity Grants—2025 Awards,” beginning in 2025, we no longer grant PSUs based on Adjusted EBITDA performance, which is included as a performance goal for our STI program, and have granted PSUs that may be earned based on free cash flow achievement. The executive team and members of management continue to engage with our shareholders over various topics, including our executive compensation and other corporate governance matters. We believe our shareholders are supportive of