Red Rock Resorts (NASDAQ: RRR) sets five-year deal for new general counsel

Rhea-AI Filing Summary

Red Rock Resorts, Inc. announced that Chief Legal Officer Jeffrey T. Welch will retire and step down from his officer role effective September 8, 2026. He will remain employed in a non-officer position through December 31, 2026, continuing his annual base salary of $900,000 and a 2026 bonus, with existing equity awards unchanged.

The company has appointed J. Colby Williams, a long-time attorney and co-founder of Campbell & Williams, as Executive Vice President and General Counsel, expected to start on or around September 8, 2026. Williams has a fixed five-year employment term with an annual base salary of at least $1,200,000, a discretionary bonus targeted at 125% of salary, and an initial equity award targeted at no less than 400% of base salary. If terminated without cause, he is eligible for 12 months of salary continuation and health coverage, subject to a release of claims. The company states there were no disagreements with Mr. Welch.

Insights

Corporate governance analyst

Red Rock Resorts outlines an orderly CLO transition with defined pay and protections for the incoming general counsel.

The company is managing legal leadership succession by transitioning Jeffrey Welch from Chief Legal Officer to a non-officer role through December 31, 2026, while bringing in J. Colby Williams as Executive Vice President and General Counsel on a five-year contract.

Williams’ package includes a base salary of $1,200,000, a target bonus of 125% of salary, and an initial equity grant of at least 400% of salary, plus 12 months of salary and health coverage if terminated without cause. These terms are typical for senior legal roles, and the filing notes no disagreements with the departing officer, suggesting a planned transition rather than a dispute-driven change.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Key Figures

Welch base salary: $900,000 annual salary Williams base salary: $1,200,000 annual salary Williams bonus target: 125% of base salary +5 more

8 metrics

Welch base salary $900,000 annual salary Paid through December 31, 2026 during transition period

Williams base salary $1,200,000 annual salary Minimum base salary under five-year employment agreement

Williams bonus target 125% of base salary Discretionary annual bonus target percentage

Initial equity award target 400% of base salary Target grant value for Williams’ initial equity award

Severance salary continuation 12 months of base salary If Williams is terminated without cause

Health coverage continuation 12 months of coverage or cash Group health insurance continuation for Williams on without-cause termination

Employment term Five-year fixed term Williams’ employment agreement term, effective at start date

Welch retirement effective date September 8, 2026 Date Welch steps down as Chief Legal Officer

Key Terms

employment agreement, restrictive covenant obligations, non-competition and non-solicitation, American College of Trial Lawyers, +2 more

6 terms

employment agreement financial

"Mr. Williams has entered into an employment agreement with the Company"

restrictive covenant obligations financial

"Mr. Williams’ employment agreement also contains certain restrictive covenant obligations"

non-competition and non-solicitation financial

"non-competition and non-solicitation restrictions with respect to a defined “restricted area”"

American College of Trial Lawyers other

"In March 2025, Mr. Williams was inducted into the American College of Trial Lawyers."

Item 404(a) of Regulation S-K regulatory

"not a party to any transactions listed in Item 404(a) of Regulation S-K."

emerging growth company regulatory

"Emerging growth company"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

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Understanding 8-K Material Events →

false 0001653653 0001653653 2026-06-12 2026-06-12

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 12, 2026

Red Rock Resorts, Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-37754		47-5081182
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

1505 South Pavilion Center Drive, Las Vegas, Nevada 89135

(Address of principal executive offices)

Registrant’s telephone number, including area code: (702) 495-3000

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A Common Stock, $0.01 par value		RRR		NASDAQ Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 12, 2026, Red Rock Resorts, Inc. and Station Casinos LLC (together, the “Company”) announced that Jeffrey T. Welch is retiring and will step down from his role as Chief Legal Officer of the Company effective September 8, 2026. After September 8, 2026, Mr. Welch will continue to be employed by the Company in a non-officer position and will provide transition and other services through December 31, 2026 and, in consideration for providing such services, will continue to receive payment of his annual base salary of $900,000 through December 31, 2026, as well as a bonus for the period of January 1, 2026 through December 31, 2026. Mr. Welch’s existing equity awards will continue to be governed in accordance with their existing terms. There were no disagreements between Mr. Welch and the Company.

In connection with Mr. Welch’s departure, the Company announced that J. Colby Williams, age 56, has been appointed to the role of Executive Vice President and General Counsel, effective upon commencement of his employment with the Company, which is anticipated to be on or around September 8, 2026. Mr. Williams is a co-founder and senior partner of Campbell & Williams and has worked as an attorney at Campbell & Williams for nearly thirty years. Mr. Williams has held an AV “Preeminent” ranking for two decades, which is the highest rating for legal skill and ethical practices designated by Martindale-Hubbell. In March 2025, Mr. Williams was inducted into the American College of Trial Lawyers. Mr. Williams holds a Bachelor of Arts degree from the University of Arizona and a J.D. from Arizona State University. Mr. Williams does not have any family relationships with any of the Company’s directors or executive officers and is not a party to any transactions listed in Item 404(a) of Regulation S-K.

Mr. Williams has entered into an employment agreement with the Company, which provides for a fixed five-year term, which will become effective as of, and subject to, his commencement of employment with the Company. Under his employment agreement, Mr. Williams is entitled to an annual base salary of not less than $1,200,000 and a discretionary annual bonus based on a target of 125% of his base salary. In the event of termination of employment for any reason, Mr. Williams will be entitled to accrued and unpaid obligations under his employment agreement, such as unpaid salary, any annual bonus awarded but not yet paid, rights under applicable benefit programs and plans and reimbursement for previously-incurred expenses. Mr. Williams will not be entitled to any additional payments or benefits if his employment is terminated by the Company for “cause” or by Mr. Williams. If Mr. Williams’ employment is terminated by the Company without “cause”, he will be entitled to receive additional payments consisting of a cash payment equal to the annual base salary in effect at the time of termination (paid in 12 equal monthly installments) and continuation of group health insurance coverage for 12 months (or a cash payment made in lieu of continued coverage). Receipt of the additional payments is subject to the execution of a release of claims against the Company. Mr. Williams’ employment agreement also contains certain restrictive covenant obligations, including indefinite confidentiality obligations and non-competition and non-solicitation restrictions with respect to a defined “restricted area” through the first anniversary of termination of employment. In connection with his appointment to General Counsel, Mr. Williams will be eligible to receive a discretionary annual long-term incentive award and will receive an initial equity award with a target grant value not less than 400% of Mr. Williams’ annual base salary.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: June 12, 2026

Red Rock Resorts, Inc.
By:		/s/ Stephen L. Cootey
		Stephen L. Cootey
		Executive Vice President, Chief Financial Officer and Treasurer

FAQ

What executive change did Red Rock Resorts (RRR) announce in this 8-K?

Red Rock Resorts announced that Chief Legal Officer Jeffrey T. Welch will retire from his officer role on September 8, 2026. He will stay in a non-officer position through December 31, 2026 to provide transition and other services under his existing compensation terms.

Who is the new Executive Vice President and General Counsel at Red Rock Resorts (RRR)?

Red Rock Resorts appointed J. Colby Williams as Executive Vice President and General Counsel, expected to start on or around September 8, 2026. Williams is a co-founder and senior partner at Campbell & Williams with nearly thirty years of legal experience and notable professional recognitions.

What are the key compensation terms for J. Colby Williams at Red Rock Resorts (RRR)?

J. Colby Williams will receive an annual base salary of at least $1,200,000 and a discretionary annual bonus targeted at 125% of salary. He is also eligible for an initial equity award with a target value of at least 400% of his annual base salary under the employment agreement.

Does Jeffrey T. Welch receive continued compensation after stepping down at Red Rock Resorts (RRR)?

Yes. Jeffrey T. Welch will continue employment in a non-officer role through December 31, 2026, receiving his annual base salary of $900,000 and a 2026 bonus. His existing equity awards remain governed by their current terms during this transition period.

What severance does J. Colby Williams receive if terminated without cause at Red Rock Resorts (RRR)?

If terminated without cause, J. Colby Williams is entitled to a cash amount equal to his then-current annual base salary, paid over 12 months, plus 12 months of group health insurance coverage or cash in lieu, contingent on signing a release of claims.

Are there non-compete or restrictive covenants in J. Colby Williams’ agreement at Red Rock Resorts (RRR)?

Yes. His employment agreement includes indefinite confidentiality obligations and non-competition and non-solicitation restrictions within a defined restricted area through the first anniversary of his employment termination, aligning with typical protections for senior legal executives.

Filing Exhibits & Attachments

3 documents

Other Documents

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