Golden Entertainment, Inc. Files Definitive Proxy Statement (DEF 14A)

TL;DR

<b>Golden Entertainment, Inc. has filed its Definitive Proxy Statement for the fiscal year ended December 31, 2023.</b>

AI Summary

GOLDEN ENTERTAINMENT, INC. (GDEN) filed a Proxy Statement (DEF 14A) with the SEC on April 10, 2024. Filing is a Definitive Proxy Statement (DEF 14A) for Golden Entertainment, Inc. The reporting period for the filing is the fiscal year ended December 31, 2023. The company was formerly known as Lakes Entertainment Inc. and Lakes Gaming Inc. The filing includes details on equity awards reported and adjusted for PEO and Non-PEO members for the years 2020-2023. Information on equity awards granted and vested during the years 2020-2023 is also detailed.

Why It Matters

For investors and stakeholders tracking GOLDEN ENTERTAINMENT, INC., this filing contains several important signals. This filing provides shareholders with crucial information regarding executive compensation, board nominations, and other corporate governance matters, enabling informed voting decisions. The detailed breakdown of equity awards offers insight into the company's incentive structures and potential future dilution, which is important for investors assessing long-term value.

Risk Assessment

Risk Level: low — GOLDEN ENTERTAINMENT, INC. shows low risk based on this filing. The filing is a routine proxy statement, providing standard disclosures without immediate financial or operational concerns.

Analyst Insight

Review the executive compensation details and equity award grants to understand potential shareholder value and dilution.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-04-10 — Filing Date (Date of submission)

Key Players & Entities

• GOLDEN ENTERTAINMENT, INC. (company) — Filer
• LAKES ENTERTAINMENT INC (company) — Former company name
• LAKES GAMING INC (company) — Former company name

FAQ

Industry Context

Golden Entertainment operates in the amusement and recreation services sector, specifically within the casino and gaming industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information relevant to shareholders.

What Investors Should Do

1. Analyze executive compensation packages and equity awards for potential alignment with shareholder interests.
2. Review board member nominations and proposals to understand corporate governance direction.
3. Assess the company's historical equity award practices for insights into future dilution and incentive strategies.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a proxy statement, and does not directly compare financial performance to a prior filing in the same way an 8-K or 10-K would.

Filing Documents

• gden-20240410.htm (DEF 14A) — 1066KB
• gden-20240410_g1.jpg (GRAPHIC) — 52KB
• gden-20240410_g10.jpg (GRAPHIC) — 39KB
• gden-20240410_g11.jpg (GRAPHIC) — 138KB
• gden-20240410_g12.jpg (GRAPHIC) — 71KB
• gden-20240410_g13.jpg (GRAPHIC) — 32KB
• gden-20240410_g2.jpg (GRAPHIC) — 23KB
• gden-20240410_g3.jpg (GRAPHIC) — 669KB
• gden-20240410_g4.jpg (GRAPHIC) — 803KB
• gden-20240410_g5.jpg (GRAPHIC) — 20KB
• gden-20240410_g6.jpg (GRAPHIC) — 21KB
• gden-20240410_g7.jpg (GRAPHIC) — 28KB
• gden-20240410_g8.jpg (GRAPHIC) — 30KB
• gden-20240410_g9.jpg (GRAPHIC) — 29KB
• 0001071255-24-000046.txt (&nbsp;) — 6576KB
• gden-20240410.xsd (EX-101.SCH) — 4KB
• gden-20240410_def.xml (EX-101.DEF) — 5KB
• gden-20240410_lab.xml (EX-101.LAB) — 7KB
• gden-20240410_pre.xml (EX-101.PRE) — 5KB
• gden-20240410_htm.xml (XML) — 227KB

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 21

Executive Compensation

Executive Compensation 23 Compensation Discussion and Analysis 23 Compensation Committee Report 34 2023 Summary Compensation Table 35 202 3 Grants of Plan-Based Awards 36 202 3 Outstanding Equity Awards at Fiscal Year-End 38 202 3 Option Exercises and Stock Vested 40 Pension Benefits 40 Non-Qualified Deferred Compensation 40 Executive Employment Agreements and Equity Award Acceleration 40 Payments Upon Termination or Change-In-Control 43 Chief Executive Officer Pay Ratio 45 Pay Versus Performance 45 Narrative Disclosure To Pay Versus Performance Table 48 Non-binding Advisory Vote on Executive Compensation (Proposal Two) 51 Ratification of the Appointment of Independent Registered Public Accounting Firm (Proposal Three) 52 Independent Registered Public Accounting Firm 53 Audit and Non-Audit Fees 53 Pre-Approval of Audit and Non-Audit Services 53 Report of the Audit Committee 54 Certain Relationships and Related Transaction 55 Review and Approval of Related Party Transactions 55 Related Party Transactions 55 Proposals of Shareholders 57 Other Matters 58 Delivery of Proxy Materials to Households 58 Solicitation 58 Other Business 58 GOLDEN ENTERTAINMENT, INC. 6595 S. Jones Boulevard Las Vegas, Nevada 89118 PROXY STATEMENT Annual Meeting of Shareholders to be Held May 23, 2024 This proxy statement is furnished in connection with the solicitation of proxies by the Board of Directors of Golden Entertainment, Inc. to be used at our 2024 annual meeting of shareholders ("Annual Meeting") to be held at 4:00 p.m. Pacific Time on Thursday, May 23, 2024, f or the purposes set forth in the Notice of Annual Meeting of Shareholders. The Annual Meeting will be completely virtual. You may attend the meeting, vote your shares and submit questions electronically during the meeting via live webcast at proxydocs.com/GDEN. The approximate date on which this proxy statement and the accompanying proxy a

: Gender Identity

Part I: Gender Identity Directors 1 5 0 0

: Self-Identified Demographic Background

Part II: Self-Identified Demographic Background African American or Black 0 0 0 0 Alaskan Native or Native American 0 0 0 0 Asian 0 1 0 0 Hispanic or Latinx 0 0 0 0 Native Hawaiian or Pacific Islander 0 0 0 0 White 1 4 0 0 Two or More Races or Ethnicities 0 0 0 0 LGBTQ+ 0 Did Not Disclose Demographic Background 0 Board Qualifications and Expertise Matrix The table below summarizes the qualifications and expertise areas of our Board of Directors. We believe that the collective key set of skills of our Board of Directors obtained through the years of industry and other relevant experiences help us to achieve the performance goals and guide us to a long-term operational success. 4 Qualifications & Expertise Blake L. Sartini Andy H. Chien Ann D. Dozier Mark A. Lipparelli Anthony A. Marnell Terrence L. Wright Public Company International Business Corporate Governance Capital Allocation/ Corporate Financing Financial Literacy Information Services and Technology Legal/ Regulatory/ Public Policy Marketing/ Sales/ Business Development Risk Management Strategic Planning Human Resources, Executive Compensation, and Talent Management Senior Leadership Cybersecurity/ Data Privacy ESG and Climate Risks Industry Experience Shareholders Advocacy Age/Tenure Age 65 48 56 58 50 74 Tenure 8 2 4 8 5 8 Set forth below is biographical information for each person nominated as a director, including a description of certain experience, qualifications and skills that led our Corporate Governance Committee and our Board of Directors to determine that these individuals should serve as our directors. Name and Age of Director Biographical Information Blake L. Sartini Mr. Sartini joined Golden as Chairman of the Board and Chief Executive Officer in July 2015 in connection with the merger with Sartini Gaming, Inc. (the "Sartini Gaming Merger") and served as the President of Golden from that time until August 2019. Prior to the merger, Mr. Sartini served as the

View Full Filing

View this DEF 14A filing on SEC EDGAR