Tilman J. Fertitta, a director and 10% owner of Wynn Resorts Ltd, filed a Form 4 on November 3, 2026, disclosing the sale of call options (obligation to sell) on Wynn Resorts common stock across two transactions dated October 30 and November 2, 2026.

Key Highlights

  • First transaction: 600,000 call options with a $94 exercise price were disposed of on October 30, 2026, at a price of $2.0351 per option, expiring May 3, 2027.
  • Second transaction: 20,000 call options with a $98 exercise price were disposed of on November 2, 2026, at a price of $2.1794 per option, also expiring May 3, 2027.
  • Total options disposed: 620,000 call options across the two transactions, each representing the obligation to sell Wynn Resorts common stock.
  • Remaining beneficial ownership: Following the transactions, 600,000 and 20,000 derivative securities are listed as beneficially owned following the reported transactions, held indirectly.
  • Indirect ownership structure: The options are held of record by Hospitality Headquarters, Inc., with Fertitta deemed to share beneficial ownership through his sole ownership of Fertitta Entertainment, Inc.
  • Transaction code: Both disposals carry transaction code S, indicating sales on the open market or in a private transaction.

Fertitta's Call Option Sales in Wynn Resorts: Structure and Details

According to the filing, Tilman J. Fertitta, identified as a director and 10% owner of NASDAQ:WYNN (Wynn Resorts Ltd), disposed of call options representing an obligation to sell the company's common stock in two separate transactions. The first involved 600,000 call options at an exercise price of $94, sold on October 30, 2026, at $2.0351 per option. The second covered 20,000 call options at an exercise price of $98, sold on November 2, 2026, at $2.1794 per option. Both sets of options carry an expiration date of May 3, 2027, and each option corresponds to Wynn Resorts common stock.

The filing discloses that the options are held of record by Hospitality Headquarters, Inc. Per the explanation of responses, Fertitta is the sole shareholder of Fertitta Entertainment, Inc., which is the sole shareholder of Hospitality Headquarters, Inc. and the sole indirect owner of Fertitta Entertainment, LLC. The filing states that "Mr. Fertitta may be deemed to share beneficial ownership of the securities held of record by Fertitta Entertainment, Inc., Hospitality Headquarters, Inc. and Fertitta Entertainment, LLC."

The form was filed jointly on behalf of Tilman J. Fertitta, Fertitta Entertainment, Inc., Hospitality Headquarters, Inc., and Fertitta Entertainment, LLC, all sharing the address of 1510 West Loop South, Houston, Texas 77027. All four entities are identified as 10% owners in relation to Wynn Resorts Ltd, according to the filing.

What Was Disclosed

The filing reports two disposals of call options (obligation to sell) on Wynn Resorts common stock by entities associated with Tilman J. Fertitta, covering 600,000 options on October 30, 2026, and 20,000 options on November 2, 2026, both expiring May 3, 2027.