PENN Entertainment Appoints New SVP, Chief Accounting Officer

TL;DR

PENN names Todd George as new CAO, starting March 25th with $325k salary + stock.

AI Summary

PENN Entertainment, Inc. announced on March 20, 2024, the appointment of Todd George as Senior Vice President, Chief Accounting Officer, and Corporate Controller, effective March 25, 2024. George will receive an annual base salary of $325,000 and will be eligible for an annual cash incentive award. He will also receive a restricted stock unit award valued at $150,000.

Why It Matters

This appointment signals a key leadership change in financial oversight for PENN Entertainment, impacting financial reporting and internal controls.

Risk Assessment

Risk Level: low — The filing details a routine executive appointment and compensation, posing no immediate significant risk to the company.

Key Numbers

• $325,000 — Annual Base Salary (For new SVP, Chief Accounting Officer Todd George.)
• $150,000 — Restricted Stock Unit Award (Initial award value for Todd George.)

Key Players & Entities

• PENN Entertainment, Inc. (company) — Registrant
• Todd George (person) — Appointed Senior Vice President, Chief Accounting Officer, and Corporate Controller
• $325,000 (dollar_amount) — Todd George's annual base salary
• $150,000 (dollar_amount) — Value of restricted stock unit award for Todd George
• March 25, 2024 (date) — Effective date of Todd George's appointment

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share PENN The Nasdaq S

Filing Documents

• tm249457d1_8k.htm (8-K) — 32KB
• tm249457d1_ex99-1.htm (EX-99.1) — 9KB
• 0001104659-24-037307.txt ( ) — 215KB
• penn-20240320.xsd (EX-101.SCH) — 3KB
• penn-20240320_lab.xml (EX-101.LAB) — 33KB
• penn-20240320_pre.xml (EX-101.PRE) — 22KB
• tm249457d1_8k_htm.xml (XML) — 4KB

02 Departure of Directors or Certain Officers; Election of

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 20, 2024, following an extensive search process, the Board of Directors (the "Board") of PENN Entertainment, Inc. (the "Company") increased the size of the Board from nine directors to ten directors and subsequently elected Anuj Dhanda to fill the vacancy, subject to customary regulatory approvals and requirements pending licensure. Mr. Dhanda was elected as a Class I director and will stand for election at the 2024 annual meeting of shareholders. Mr. Dhanda currently serves as Executive Vice President and Chief Technology and Transformation Officer for Albertsons, a Fortune 100 Idaho-based chain of grocery stores with locations across the United States. In his current role, Mr. Dhanda is responsible for IT architecture, application platforms, supply chain modernization, data analytics, infrastructure and information security. Mr. Dhanda's experience includes integrating the technology systems of Albertsons and Safeway in connection with the merger of the two companies in 2015 and overseeing Albertsons' recent transition to a cloud system. Prior to joining Albertsons, Mr. Dhanda served as Senior Vice President of Digital Commerce and Chief Information Officer at Giant Eagle, a leading retailer in the Midwest, where he was accountable for managing aspects of technology apps, architecture and infrastructure. Additionally, Mr. Dhanda held Chief Information Officer roles at PNC Financial Services for nearly 15 years. Mr. Dhanda has been active in numerous professional and philanthropic causes, including as a member of the CIO Council for Greylock; member of the President's Council for Oracle; former Chairman of the Board at the Mattress Factory Museum; board member of the Carnegie Museum of Art; and board member of United Way of Allegheny County. Mr. Dhanda has been recognized by CIO100 and was an honore

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure On March 21, 2024, the Company issued a press release announcing Mr. Dhanda's election to the Board, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, is being furnished to the SEC and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. This information shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference to such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description of Exhibit 99.1 Press release dated March 21, 2024 of PENN Entertainment, Inc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

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: March 21, 2024 PENN ENTERTAINMENT, INC. By: /s/ Christopher Rogers Christopher Rogers Executive Vice President, Chief Strategy Officer and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR