Monarch Casino (MCRI) chief exercises options; 51,175 shares used for taxes

Rhea-AI Filing Summary

MONARCH CASINO & RESORT INC President Bob Farahi exercised stock options and settled related taxes in shares. On April 23, 2026, he exercised options covering 66,667 shares of common stock through derivative exercises coded "M".

To cover the exercise price or tax obligations, 51,175 shares of common stock were disposed of in a tax-withholding transaction coded "F" at $116.65 per share, which is not an open-market sale. After these transactions, he directly owns 197,178 common shares and indirectly holds 961,774 shares in trusts.

Farahi continues to hold option awards for 100,000 underlying shares of common stock with exercise prices of $69.15, $78.90, and $95.70, expiring between 2033 and 2035.

Insights

Equity compensation analyst

Routine option exercise with tax withholding; no open‑market trades disclosed.

Bob Farahi, President of Monarch Casino & Resort, exercised options for 66,667 shares of common stock via derivative transactions coded "M". These are standard equity compensation events, converting option awards into actual shares.

A separate "F"‑code transaction shows 51,175 shares delivered at $116.65 per share to cover the exercise price or tax liability, which is not an open‑market sale. Following these moves, Farahi directly holds 197,178 shares and indirectly holds 961,774 shares in trusts, while retaining options on 100,000 additional shares expiring between 2033 and 2035. Overall, this looks like routine compensation management rather than a directional market bet.

Insider Trade Summary

Net Buyer: 15,492 shares

Net Buy 8 txns

Insider FARAHI BOB

Role President

Type	Security	Shares	Price	Value
Exercise	Options / Right to Buy	33,334	$0.00	$0.00
Exercise	Options / Right to Buy	33,333	$0.00	$0.00
Exercise	Common Stock	66,667	$116.65	$7.78M
Exercise Price or Tax Liability	Common Stock	51,175	$116.65	$5.97M
holding	Options / Right to Buy	--	--	--
holding	Options / Right to Buy	--	--	--
holding	Options / Right to Buy	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Options / Right to Buy — 333,333 shares (Direct); Common Stock — 197,178 shares (Direct); Common Stock — 961,774 shares (Indirect, In trusts)

Key Figures

Options exercised: 66,667 shares Tax-withholding shares: 51,175 shares at $116.65 Direct common shares after: 197,178 shares +3 more

6 metrics

Options exercised 66,667 shares Derivative exercises coded "M" on April 23, 2026

Tax-withholding shares 51,175 shares at $116.65 F-code disposition to cover exercise price or taxes

Direct common shares after 197,178 shares Direct ownership following reported transactions

Indirect common shares 961,774 shares Held in trusts after reported transactions

Remaining option awards 100,000 underlying shares Options expiring 2033–2035

Option exercise prices $69.15, $78.90, $95.70 Exercise prices for remaining options

Key Terms

tax-withholding disposition, derivative exercise/conversion, Options / Right to Buy, indirect ownership, +1 more

5 terms

tax-withholding disposition financial

"transaction_action": "tax-withholding disposition""

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

derivative exercise/conversion financial

"transaction_action": "derivative exercise/conversion""

Options / Right to Buy financial

""security_title": "Options / Right to Buy""

indirect ownership financial

""ownership_type": "indirect""

exercise price financial

""conversion_or_exercise_price": "69.1500""

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 04/24/2026 - 07:23 PM Learn about SEC filing dates

FAQ

What did Monarch Casino (MCRI) President Bob Farahi report in this Form 4?

Bob Farahi reported exercising stock options for 66,667 shares of Monarch Casino common stock and a related tax-withholding share disposition. These transactions convert option awards into actual shares as part of his equity compensation package.

How many Monarch Casino (MCRI) shares did Bob Farahi acquire through option exercises?

He exercised options coded "M" tied to 66,667 underlying shares of Monarch Casino common stock. These derivative exercises convert previously granted options into owned shares under the company’s equity compensation arrangements.

Were any Monarch Casino (MCRI) shares sold on the open market in this Form 4?

The filing shows an "F"-code tax-withholding disposition of 51,175 shares at $116.65 each, used to cover exercise price or tax liability. This type of transaction is not an open-market sale to third-party investors.

What are Bob Farahi’s Monarch Casino (MCRI) share holdings after these transactions?

After the reported transactions, Bob Farahi directly owns 197,178 shares of Monarch Casino common stock and indirectly holds 961,774 shares in trusts. These positions reflect his ongoing equity stake in the company following the option exercises.

What option awards does Bob Farahi still hold in Monarch Casino (MCRI)?

He retains options on 100,000 underlying shares of Monarch Casino common stock, with exercise prices of $69.15, $78.90, and $95.70. These options have expiration dates ranging from 2033 through 2035, indicating a long-dated incentive structure.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

FARAHI BOB

(Last) (First) (Middle)

MONARCH CASINO & RESORT INC

3800 S. VIRGINIA STREET

(Street)

RENO NEVADA 89502

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MONARCH CASINO & RESORT INC [ MCRI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/23/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/23/2026		M		66,667	A	$116.65	248,353	D
Common Stock	04/23/2026		F		51,175	D	$116.65	197,178	D
Common Stock								961,774	I	In trusts

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Options / Right to Buy	$73.95	04/23/2026		M			33,334	12/31/2024	12/31/2031	Common Stock	33,334	$0	133,333	D
Options / Right to Buy	$76.89	04/23/2026		M			33,333	12/31/2025	12/31/2032	Common Stock	33,333	$0	100,000	D
Options / Right to Buy	$95.7							12/31/2028	12/31/2035	Common Stock	33,333		100,000	D
Options / Right to Buy	$78.9							12/31/2027	12/31/2034	Common Stock	33,334		100,000	D
Options / Right to Buy	$69.15							12/31/2026	12/31/2033	Common Stock	33,333		100,000	D

Explanation of Responses:

	Bob Farahi	04/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)