Red Rock Resorts (RRR) CEO Fertitta granted 148K shares and 301K options
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Red Rock Resorts, Inc. Chief Executive Officer Frank J. Fertitta III reported new equity awards. He received a restricted stock award of 148,427 shares of Class A common stock at no purchase price, granted under the company’s Amended and Restated 2016 Equity Incentive Plan.
The restricted stock vests 25% on each of the first four anniversaries of June 11, 2026, subject to his continued service. He also received a stock option award for 301,205 shares of Class A common stock at an exercise price of $62.32 per share, expiring on June 11, 2036, with the same four-year, 25%-per-year vesting schedule.
Following these grants, Fertitta directly holds 241,648 shares of Class A common stock and 301,205 employee stock options, and has additional large indirect holdings through various LLCs and family trusts, for which he disclaims beneficial ownership except to the extent of any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
FERTITTA FRANK J III
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | EMPLOYEE STOCK OPTION (RIGHT TO BUY) | 301,205 | $0.00 | -- |
| Grant/Award | CLASS A COMMON STOCK | 148,427 | $0.00 | -- |
| holding | CLASS A COMMON STOCK | -- | -- | -- |
Holdings After Transaction:
EMPLOYEE STOCK OPTION (RIGHT TO BUY) — 301,205 shares (Direct, null);
CLASS A COMMON STOCK — 241,648 shares (Direct, null);
CLASS A COMMON STOCK — 45,273,322 shares (Indirect, See Footnotes)
Footnotes (1)
- Represents a restricted stock award (the "Restricted Stock Award") pursuant to the Issuer's Amended and Restated 2016 Equity Incentive Plan. The Restricted Stock Award vests 25% on each first four anniversaries of June 11, 2026, subject to the Reporting Person's continued service with the Issuer. Frank J. Fertitta III is a director of the Issuer, and also a beneficial owner of 10% or more of the Issuer's Class A Common Stock (assuming that all of the units of membership interest in Station Holdco LLC (the "LLC Units") beneficially owned by Frank J. Fertitta III were exchanged for the Issuer's Class A Common Stock) as a result of his ownership interest in FBM Sub 1 LLC ("FBM Sub 1"), Fertitta Business Management LLC ("FBM") and FI Station Investor LLC ("FI Station"). The LLC Units are exchangeable at any time and from time to time for a number of shares of the Issuer's Class A Common Stock at an exchange rate determined in accordance with the Exchange Agreement or, at the election of the Issuer, cash. The LLC Units have no expiration date. (Continued from Footnote 2) FI Station is owned by Fertitta Investment LLC ("Fertitta Investment"), KVF Investments, LLC ("KVF") and LNA Investments, LLC ("LNA"). Fertitta Investment is owned by FBM, KVF and LNA. FI Station and Fertitta Investment are managed by Fertitta Holdco LLC, which is owned and managed by Frank J. Fertitta III and Lorenzo J. Fertitta. KVF is managed by Frank J. Fertitta III and is beneficially owned by various trusts established for the benefit of his three children. LNA is managed by Lorenzo J. Fertitta and is beneficially owned by various trusts established for the benefit of his three children. FBM Sub 1 is owned and controlled by FBM. FBM is owned and controlled (i) 50% by the F & J Fertitta Family Business Trust (the "F&J Trust"), a revocable trust for which Frank J. Fertitta III has sole investment and voting power, and (ii) 50% by the L & T Fertitta Family Business Trust (the "L&T Trust"), (Continued from Footnote 3) a revocable trust for which Lorenzo J. Fertitta has sole investment and voting power. Certain Class A Common Stock of the Issuer are held by (i) The Frank J. Fertitta, III and Jill Ann Fertitta Family Trust (the "F&J Fertitta Family Trust"), a revocable trust established for the benefit of Frank J. Fertitta III and Jill Ann Fertitta and for which Frank J. Fertitta III is co-trustee and has shared investment and voting power, (ii) KVF RRR LLC ("KVF RRR") is an entity managed by Frank J. Fertitta III and is beneficially owned by various trusts established for the benefit of his three children and grandchildren and (iii) the F & J Fertitta Grandchildren's 2020 Irrevocable Trust, an irrevocable trust established for the benefit of the Reporting Person's grandchildren (the "F&J 2020 Trust") for which Lorenzo J. Fertitta Jr., the Reporting Person's nephew, serves as trustee. Based on the Reporting Person's retained right to remove the trustee of the F&J 2020 Trust, the Reporting Person may be deemed to be a beneficial owner of any shares transferred to the F&J 2020 Trust. Frank J. Fertitta III disclaims beneficial ownership of any shares of Class A Common Stock or LLC Units beneficially owned by FI Station, Fertitta Investment, FBM Sub 1, FBM, KVF, LNA, the F&J Trust, the L&T Trust, the F&J Fertitta Family Trust, the KVF RRR, and the F&J 2020 Trust, except to the extent of any pecuniary interest therein. Represents a stock option award (the "Stock Option Award") pursuant to the Issuer's Amended and Restated 2016 Equity Incentive Plan. The Stock Option Award vests 25% on each first four anniversaries of June 11, 2026, subject to the Reporting Person's continued service with the Issuer.
Key Figures
Restricted stock award: 148,427 shares
Stock option award size: 301,205 options
Option exercise price: $62.32 per share
+4 more
7 metrics
Restricted stock award
148,427 shares
Class A Common Stock grant on June 11, 2026 vesting over four years
Stock option award size
301,205 options
Employee stock option grant on Class A Common Stock
Option exercise price
$62.32 per share
Exercise price for 301,205 employee stock options
Option expiration
June 11, 2036
Expiration date of the Stock Option Award
Direct shares after grant
241,648 shares
Class A Common Stock directly held following the grants
Indirectly held shares
45,273,322 shares
Class A Common Stock indirectly owned through entities and trusts
Options after grant
301,205 options
Total employee stock options held after the award
Key Terms
restricted stock award, Amended and Restated 2016 Equity Incentive Plan, Stock Option Award, LLC Units, +2 more
6 terms
restricted stock award financial
"Represents a restricted stock award (the "Restricted Stock Award") pursuant to the Issuer's Amended and Restated 2016 Equity Incentive Plan."
A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.
Amended and Restated 2016 Equity Incentive Plan financial
"Represents a restricted stock award ... pursuant to the Issuer's Amended and Restated 2016 Equity Incentive Plan."
Stock Option Award financial
"Represents a stock option award (the "Stock Option Award") pursuant to the Issuer's Amended and Restated 2016 Equity Incentive Plan."
LLC Units financial
"The LLC Units are exchangeable at any time and from time to time for a number of shares of the Issuer's Class A Common Stock at an exchange rate determined in accordance with the Exchange Agreement or, at the election of the Issuer, cash."
LLC units are ownership stakes in a limited liability company, similar to shares in a corporation; each unit represents a portion of the company’s profits, losses and often voting power. For investors, LLC units matter because they determine how much money and control someone gets, how easily an interest can be sold, and how income is taxed and reported — think of owning slices of a pie that also decide how the pie is cut and shared.
Exchange Agreement financial
"The LLC Units are exchangeable ... at an exchange rate determined in accordance with the Exchange Agreement or, at the election of the Issuer, cash."
A written deal in which two parties agree to swap assets, securities or obligations under set terms—think of it as a formal swap or trade contract. For investors it matters because such agreements can change who owns what, alter a company’s capital structure, affect future cash flows or dilute existing shares, and therefore influence value and risk in a straightforward, contract-driven way.
beneficial owner financial
"Frank J. Fertitta III is a director of the Issuer, and also a beneficial owner of 10% or more of the Issuer's Class A Common Stock..."
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
FAQ
What new equity awards did Red Rock Resorts (RRR) CEO Frank J. Fertitta III receive?
Frank J. Fertitta III received 148,427 restricted Class A shares and stock options for 301,205 shares. Both awards were granted at no upfront cost under the company’s 2016 equity plan and represent part of his long-term incentive compensation.
How do the new restricted stock awards for RRR CEO Fertitta vest?
The 148,427-share restricted stock award vests 25% on each of the first four anniversaries of June 11, 2026. Vesting is contingent on Fertitta’s continued service with Red Rock Resorts, aligning the award with long-term retention and performance.
What are the key terms of Frank Fertitta’s new Red Rock Resorts stock options?
The stock option award covers 301,205 Class A shares at an exercise price of $62.32 per share. The options vest 25% annually on each of the first four anniversaries of June 11, 2026, and expire on June 11, 2036, if not exercised.
What are Station Holdco LLC units mentioned in the Red Rock Resorts Form 4?
Station Holdco LLC units are membership interests exchangeable into Red Rock Resorts Class A common shares or cash, under an exchange agreement. They have no expiration date and help explain Fertitta’s status as a large beneficial owner through related entities.